# eco
12 posts in `eco` tag
Big Win for Indian Startups: 187 Approved for Tax Exemption Under Revised 80-IAC
The DPIIT has approved 187 startups for income tax exemption under the revised Section 80-IAC. This grants 100% tax deduction on profits for 3 years out of 10, under an updated framework with extended eligibility and a streamlined application process. This move boosts financial relief and growth for eligible Indian startups.
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By Krishna
Official Clarification: UPI Transactions Above 2,000 Remain GST-Free
The Indian government affirms there is no GST on UPI transactions exceeding 2,000. This post clarifies that the confusion arose from NPCI's March 2023 introduction of interchange fees (up to 1.1%) specifically for merchant payments over ₹2,000 made via PPI wallets; this fee is not GST and isn't paid by customers. Standard bank-to-bank UPI remains free due to the MDR waiver. The government actively supports UPI growth through incentive schemes.
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By Krishna
our Guide to the Income Tax Intimation Password (Section 143(1))
This guide explains the purpose of an Income Tax Intimation notice received under Section 143(1) after filing your ITR. It details why the document is password-protected and provides the precise password format: your PAN number in lowercase followed immediately by your Date of Birth in DDMMYYYY format. Learn the step-by-step process to open the encrypted PDF, understand the calculation comparison within, and know what actions to take based on whether it shows a refund, demand, or no change.
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By Krishna
What's New in GST Registration? Breakdown of the April 2025 CBIC Circular
This blog post details the updated GST registration guidelines issued by the CBIC on April 17, 2025. It explains the challenges faced by businesses, outlines the typical solutions introduced (like risk-based approaches, standardized procedures, and clearer rules for verification), discusses the anticipated benefits such as faster processing and reduced compliance burden, and advises businesses on navigating the new regulations effectively. The goal is to clarify how these changes aim to simplify the process and reduce harassment, thereby improving the ease of doing business in India.
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By Krishna
Understanding the Supreme Court’s Review of CGST Act Section 168A
The Supreme Court is reviewing the legality of CGST Act Section 168A, which allows deadline extensions for tax compliance. This blog delves into the implications for taxpayers, the legal challenges, and potential outcomes of this significant case.
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By Krishna
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Old vs. New Tax Regime: Which Option Suits You Best for FY 2025-26?
The Indian tax system offers two regimes—old and new—each with distinct slab rates, deductions, and exemptions. This blog compares both regimes, using examples to help you decide which one suits you best for FY 2025-26. Learn how to minimize your tax liability based on your income and investments.
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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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Finance Bill 2025 An explanation of the main points and tax reforms
Key tax and financial reforms that affect people, companies, and the economy are included in the Finance Bill 2025, which was issued together with the Union Budget. It provides clarification on crypto taxation, simplified GST, lowered corporate taxes, and updated income tax slabs.
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By Krishna
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New Tax Slabs in Budget 2025: Comprehensive Overview and Analysis
The most significant adjustment to income tax slabs brought about by the Union Budget 2025 was the exemption of income up to ₹12 lakhs from taxes. Additional changes include a higher standard deduction of ₹75,000 and lower tax rates for those making between ₹8 lakhs and ₹24 lakhs. The goals of these measures are to streamline the tax filing process, promote savings and investments, and give middle-class taxpayers financial relief. The new tax system and its effects on people and the economy as a whole are covered in this blog.
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By Krishna
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Union Budget 2025–2026: Key Highlights, Expectations, and Economic Impact
The Union Budget 2025–2026, to be presented by Finance Minister Nirmala Sitharaman on February 1, 2025, is expected to set the financial roadmap for the coming fiscal year. Key areas of focus include changes in taxation, infrastructure development, digital economy growth, and social welfare programs. With rising expectations from businesses and taxpayers, this budget will play a crucial role in shaping India’s economic future. Stay tuned for key announcements and live updates on Budget Day.
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By Krishna
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GST Relief for Hospitality Sector: Budget 2025 Key Expectations
In anticipation of important changes including infrastructure status, GST rationalization, digital single-window clearance, talent development programs, and sustainability incentives, the Indian hotel industry is looking forward to Budget 2025. These adjustments have the potential to greatly increase industry expansion, improve worldwide competitiveness, and assist small and medium-sized businesses (SMEs). Explore the main expectations for the next budget by reading on.
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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