# compliance
12 posts in `compliance` tag
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.
Tax Reforms for Equity: Simplifying TDS and Enhancing Income Exemption
Middle-class taxpayers may benefit greatly from the plan to streamline the TDS structure and raise the income tax exemption level to Rs 5.7 lakh. These adjustments seek to promote justice and economic growth by bringing taxing rules into line with inflation trends and removing obstacles to TDS compliance. The present situation, difficulties, and possible effects of these reforms are examined in this blog.
Understanding Cash Transaction Limits in India 2025: Key Rules and Penalties
The Income Tax Department of India has imposed severe cash transaction limitations for 2025 in order to combat black money, promote digital payments, and increase financial transparency. The Section 269ST limits cash revenues to ₹2 lakh, business costs to ₹10,000, and restricts contributions, real estate transactions, and loan repayments. Violations result in severe fines. Learn how to maintain compliance, avoid penalties, and contribute to a transparent financial system.
GST Updates: Key Changes and Announcements for the Week of 14th–20th January 2025
Significant changes were made to the GST this week (January 14–20, 2025) for both taxpayers and companies. Highlights include clarifications on e-invoicing thresholds, rate modifications for EV batteries and BPO services, GST Council meeting outcomes, and extensions for GSTR-3B reporting deadlines. To assist stakeholders in successfully navigating these changes, the blog discusses notices, compliance tactics, industry responses, and impending deadlines.
Revised GST Arrest Guidelines: Justice for Honest Taxpayers
The CBIC has issued new rules for GST arrests, aimed for safeguarding honest taxpayers from arbitrary proceedings. These regulations categorize violations, require prior authorization, and emphasize respect for individual rights in order to promote openness, accountability, and a balance between enforcement and justice.
CBIC Introduces New Guidelines for GST Arrest and Bail in 2025
The CBIC has updated the arrest and bail standards for GST 2025, concentrating on fairness, transparency, and legal compliance. Taxpayers now have protection against arbitrary arrests and clearer bail provisions. These amendments aim to boost business confidence and protect taxpayer rights.
ITR Amendments Made Easy: New January 15, 2025 Deadline
To provide aid to taxpayers, the Income Tax Department has extended the deadline for filing the ITR until January 15, 2025. Those revising special rate incomes or fixing Section 87A rebate issues will especially benefit from this prolongation. Find out how to take advantage of this chance, avoid penalties, and file amended taxes.
Taxation Under Section 41: A Guide to Profits and Balances
The Income Tax Act's Section 41 guarantees that any recoveries or remissions of previously claimed deductions are taxable. This thorough book highlights the significance of openness in India's taxation system by outlining its laws, real-world applications, and significant court decisions.
GST Compliance: Important January 2025 Deadlines
In order to help taxpayers remain on top of the deadlines for GSTR-3B, GSTR-1, CMP-08, and other crucial forms, this blog summarizes the crucial dates for completing GST returns in January 2025. It also gives advice for seamless compliance and insights on how to prevent penalties through timely filing.
Unlocking Benefits: All About the Section 128A Waiver Scheme
The blog talks about the noteworthy evolution of the GSTN's Section 128A Waiver Scheme, which was implemented to make it easier for taxpayers to comply. It emphasizes important aspects including the elimination of late fines and penalties, the introduction of GST SPL 01 and GST SPL 02 forms, and a thorough application procedure. It also outlines the scheme's advantages, such as cost savings and easier compliance.
Taxpayer Benefits from Leasehold Rights GST Exemption Ruling
The recent court ruling on the GST taxation of leasehold rights has given taxpayers much-needed clarification and respite. This important decision exempts leasehold rights from GST as it acknowledges them as immovable property transactions. It gives the potential for reimbursements for previous transactions, lessens the tax burden, and lowers compliance challenges. Examine how this choice promotes ease of doing business while affecting taxpayers and enterprises.
Changes to GSTR-1 Filing Effective January 2025: A Detailed Guide
New GSTR-1 filing requirements take effect in January 2025. GSTR-3B reconciliation alignment, auto-populated data, improved e-commerce transaction reporting, and updated HSN code reporting criteria are some of the major changes. Find out how businesses may adjust and how taxpayers are impacted by these changes.