# business
12 posts in `business` tag
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Key Updates on Presumptive Taxation in the Income Tax Bill 2025
Small enterprises, professionals, and independent contractors would all be impacted by the substantial changes to presumptive taxation brought about by the Income Tax Bill 2025, especially under Section 58. Important adjustments include clarifications on deductible costs, conformity with tax simplification objectives, and limitations on loss set-offs. This blog examines the ramifications of these modifications, how they affect taxpayers, and practical measures for financial planning and compliance.
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By Krishna
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How Section 44AD Helps Small Businesses Save Time and Money on Taxes
Section 44AD of the revenue Tax Act provides a presumptive taxation structure for small enterprises in India, enabling them to report revenue based on a specified proportion of sales. This blog discusses eligibility, benefits, income computation, and how it makes tax compliance easier by eliminating the need for comprehensive recordkeeping and tax audits.
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By Krishna
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GST Amnesty Scheme: Essential Elements & Due Dates
The GST Amnesty Scheme is a relief initiative by the government for taxpayers who have missed GST return filings or face compliance issues. This blog explains its key features, eligibility, advantages, and deadlines to help businesses take advantage of the scheme and avoid penalties.
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By Krishna
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A Complete Guide to GST Registration in India for 2024–2025
With an emphasis on Rule 8 of the CGST Rules, 2017 and the significance of Aadhaar identification, this blog offers a comprehensive reference to GST registration in India for 2024–2025. It goes over important commercial factors, the registration procedure, and the most recent upgrades.
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By Krishna
Due Date Calendar for February 2025: Key Tax & Compliance Deadlines
There are several tax filing and compliance dates in February 2025 that businesses, professionals, and individuals must meet. There could be fines, interest, and legal repercussions for missing deadlines. To help taxpayers stay in compliance with regulatory requirements, this blog offers a thorough due date calendar that covers GST, TDS, PF, ESI, MSME, and ROC filings.
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By Krishna
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Budget 2025 Brings 0% Tax for MSMEs Earning Up to 2 Crores
A ground-breaking tax reform was proposed in Budget 2025, offering companies with yearly sales up to 2 crores a 0% tax rate. This policy lessens the regulatory obligations for professionals, startups, and MSMEs by aligning with the presumptive taxation regime under Sections 44AD and 44ADA. For the benefit of small enterprises throughout India, the project seeks to increase entrepreneurship, simplify tax compliance, and encourage digital transactions.
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By Krishna
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India’s Budget 2025: Game-Changing Policies for MSMEs
Through improved loan availability, tax breaks, digital transformation, and export promotion, the Union Budget 2025 has implemented a number of initiatives to support India's MSME sector. The introduction of Digital MSME India, the expansion of the PLI program, the reduction of GST compliance requirements, and a ₹50,000 crore investment in the CGTMSE are some of the major projects. Discover how these reforms will empower small firms and spur their expansion by reading on.
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By Krishna
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Union Budget 2025: New GST Rules, ITC Changes & MSME Benefits
Significant GST reforms were implemented in the Union Budget 2025, with an emphasis on increasing transparency, reducing the tax burden on small enterprises, and boosting compliance. Stricter ITC claim regulations, e-invoicing requirements for companies with ₹5 crore in revenue, updated GST rates, and higher GST registration limits for MSMEs are some of the major changes. Although companies must adjust to more stringent laws, these changes seek to simplify compliance, increase economic growth, and streamline procedures.
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By Krishna
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Budget 2025's TDS & TCS Big Relief: A Revolution for Taxpayers
Significant TDS & TCS reforms are introduced in the Union Budget 2025 with the goals of easing tax compliance, lowering financial burdens, and fostering economic expansion. Lower TDS rates, lower TCS on foreign transactions, and more exemptions for small taxpayers are some of the main attractions.
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By Krishna
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Big Relief for Taxpayers: CBIC Waives Late Fees for GSTR-9C Filing
Late costs for GSTR-9C files that were postponed from FY 2017–18 to FY 2022–23 have been forgiven by the Central Board of Indirect Taxes and Customs (CBIC). The 55th meeting of the GST Council accepted this plan, which permits taxpayers to file outstanding taxes by March 31, 2025, without incurring penalties. Businesses gain from the waiver because it promotes compliance, lessens financial strains, and streamlines the GST system. Discover its significance, qualifying requirements, and detailed application procedure in this extensive blog.
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By Krishna
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GSTR-1 Updates: Mandatory HSN Code Reporting Explained for Taxpayers
With effect from February 2025, the GSTN has implemented Phase-3 modifications for HSN code reporting in GSTR-1 and GSTR-1A. These modifications are intended to improve compliance, guarantee standardization, and increase data accuracy. Businesses may face initial difficulties, but there are substantial long-term advantages. To guarantee a seamless transfer, get ready today.
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By Krishna
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FORM CSR-2 Deadline Extended: What Businesses Need to Know
The FORM CSR-2 filing date has been extended by the Ministry of Corporate Affairs (MCA) to March 31, 2025. This extension ensures openness and adherence to the Companies Act of 2013 by giving businesses more time to meet CSR reporting requirements. Read our in-depth blog to find out more about FORM CSR-2, its significance, and the effects of this expansion.
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By Krishna