Apnoka CA Apnoka CA

Navigate the World of Finance and Money with Ease! apnokaca.com is a One-Stop solution for all legal & Financial blogs & updates! Empowering You with Knowledge to Make Informed Decisions! Stay Ahead for the latest legal and financial with apnokaca.com!

An exclusive national news network with a Delhi base is labeled apnokaca. Its English-language channels target the legal and financial sectors. To make legal and financial services simple to understand for our readership & viewers is our objective.

Patparganj, Delhi (HQ)

305 3RD FLOOR PLOT NO 51, Hasanpur, I.P.Extension, 110092
Myitronline Global Services
# 2024

12 posts in `2024` tag

Income Tax Breaks Coming Soon? Focus on Rs 15 Lakh Earners

To lessen the financial burden on middle-class and upper-middle-class income groups, the government is looking into tax breaks for those making up to Rs 15 lakh a year. Reduced tax rates, higher standard deductions, and updated tax slabs are some of the suggested changes. These adjustments may simplify compliance, boost economic growth, and raise disposable income. This proposed change is a positive start toward promoting economic resilience and resolving taxpayer concerns, even though obstacles like revenue impact and structural overhaul still exist.

Breaking Down Capital Gains Tax Adjustments in the 2024 Budget

Both citizens and non-resident individuals will be impacted by the substantial changes to the capital gains tax structure brought about by the Indian Union Budget 2024. The changes, including uniform tax rates, TDS adjustments, and investment ramifications, are covered in detail in this blog. Learn how to modify tactics to conform to the most recent rules.
Card image
GST

New GST Rates on Popcorn: What You Need to Know

Significant adjustments to the Goods and Services Tax (GST) rates for popcorn have been recommended by the GST Council. By establishing consistent prices for packaged and unbranded popcorn, this amendment seeks to streamline compliance and guarantee equity. The adjustments may have an effect on government income, corporate profit margins, and consumer prices. Find out how the food and beverage sector may be impacted by this change and how companies may maintain compliance.
Card image
GST

Essential GST Updates for Businesses and Taxpayers (Dec 10–16, 2024)

All of the major GST announcements and updates that were released between December 10 and December 16, 2024, are compiled in this blog. Input Tax Credit explanations, GST rate adjustments, e-invoicing updates, GSTR-1 filing extensions, and new features like filing NIL returns by SMS are all included. To guarantee seamless compliance and prevent fines, be informed.

EPF Withdrawal 2024: Eligibility, Rules, and Tax Implications Explained

When an employee retires or needs money, the Employees' Provident Fund (EPF) provides it. This guide describes the 2024 EPF withdrawal regulations, including eligibility, types of withdrawals, tax ramifications, necessary paperwork, and more. Find out about new developments such as AI-based claim settlements and how to guarantee a seamless EPF withdrawal procedure.

Simplification of the Income Tax Act 1961: No New Rates, Just Easier Compliance

Without altering tax rates, the ongoing review of the Income Tax Act of 1961 seeks to enhance compliance and streamline tax regulations. This project aims to improve digital integration, eliminate out-of-date provisions, and make the Act easier to use. It is anticipated to be finished by mid-December 2024, and taxpayers can anticipate more transparency and lower compliance expenses.

All You Need to Know About Short-Term Capital Gains and Tax Reforms in 2024

Selling assets such as stocks, mutual funds, or real estate during a brief holding period results in short-term capital gains, or STCG. The STCG taxation regulations, their effects, and the most recent revisions for 2024 are examined in this blog. Stricter crypto transaction monitoring, simplified ITR forms, updated STT rates, and improved reporting for high-value transactions are among of the major changes. Discover how to compute STCG, comprehend tax ramifications, and investigate methods for efficiently reducing tax obligations.

Important Dates for December 2024 Income Tax and GST Compliance

Businesses and taxpayers need to be on the lookout for important income tax and GST compliance deadlines in December 2024 as the year draws to a close. Financial stability may be impacted by penalties and interest for missing deadlines. To help you stay organized and avoid penalties, this blog offers a comprehensive chart of all significant compliance dates.

Reduced TDS Rates: Beneficial to Both People and Businesses

In order to lessen the tax burden on different types of payments, the TDS rates under Sections 194-IB, 194-DA, 194-G, 194-H, 194-M, and 194-O have recently changed. The TDS rate for insurance commissions, life insurance payouts, lottery commissions, brokerage fees, and rent payments will be lowered from 5% to 2% as of October 1, 2024, and April 1, 2025. A 2% tax under Section 194M will also be applied to payments made by non-auditable businesses to contractors and professionals. In addition, Section 194-O will apply a reduced TDS rate of 0.75% to e-commerce transactions. These adjustments aim to increase tax compliance across a range of industries and enhance liquidity for professionals, small enterprises, and individuals.
Card image
GST

Understanding the New RCM Rules for Rental of Immovable Property

This blog post explains the recent changes to the Reverse Charge Mechanism (RCM) for property rentals in India. Landlords of commercial properties are now responsible for paying GST on behalf of unregistered tenants. The changes take effect on October 10, 2024. Businesses must update their accounting systems and seek professional advice to ensure compliance.
Card image
GST

2024: Managing GST Refund Requests: A Comprehensive Guide for Companies

This article offers a thorough overview of managing GST refund requests in 2024, including information on the revised procedures, qualifying standards, required paperwork, and filing guidelines. It also discusses typical errors and difficulties that companies go into while submitting GST refund claims. Keep yourself updated on significant developments to guarantee effective cash flow and tax law compliance.

Form 1 of DTVSV 2024: Online Filing, Deadlines, and Penalties

Form 1 for the Declaration of Taxable Value of Securities (DTVSV) 2024 is now available for online submission. By October 31, 2024, taxpayers who own securities as of March 31, 2024, must submit this form. Up to December 31, 2024, a late return may be submitted; however, there will be a ₹1,000 penalty. In the event that the form is not submitted by the stipulated deadline, there will be a penalty of ₹10,000 and potential interest on unpaid taxes. Find out how to easily file Form 1 online and make sure you're following the DTVSV rules.