Under Section 51 of the GST Act, specified entities must deduct TDS at 2% for payments exceeding ₹2.5 lakh. Exemptions include unregistered suppliers, exempt goods, and small contracts. Deductors must adhere to filing deadlines and compliance norms, while suppliers can claim TDS as ITC, fostering transparency and tax compliance.

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.

To maintain tax compliance, encourage transparency, and identify tax evasion, the GST department uses Form 26AS, AIS, and ITR data in an integrated approach. To stay out of trouble with the law, taxpayers must make sure that their reports are correct and that they are regularly reconciled. Read this blog to understand the process, its effects, and how to maintain compliance.

The new TDS rate chart for AY 2025–2026, which details the relevant rates for residents and non-residents, has been made public by the CBDT. Important clauses, noteworthy modifications, compliance dates, and advice on implementing the most recent TDS rates into your financial procedures are all highlighted in this article. To guarantee timely tax filing and prevent fines, be informed.

This blog explains the complexity of income tax surcharges and marginal relief in India. It defines surcharges, their rates under both the old and new tax regimes, and the idea of marginal relief, which ensures high-income taxpayers are not unduly punished. It also offers taxpayers advice on how to properly manage their tax liabilities.

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.

By declaring that no structural modifications to the capital gains tax system are under consideration, the government has reassured private investors and High Net Worth Individuals (HNIs). This ruling, which was announced on January 22, 2025, gives investors much-needed confidence and guarantees stability in India's tax system. The blog discusses the basics of capital gains tax, making a distinction between short-term capital gains (STCG) and long-term capital gains (LTCG), and stressing the significance of the government's resolve to preserve the current framework. Stability in tax policy, the maintenance of investment incentives, and increased market trust are important lessons learned that guarantee investors may smoothly organize their finances.

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.

The Government of India has extended the deadline for the Vivad se Vishwas Scheme 2024 till January 31, 2025, giving taxpayers extra time to resolve their tax problems peacefully. This method, designed to reduce litigation and improve compliance, allows taxpayers to resolve concerns without incurring fines or interest. The expansion is intended to increase participation and contribute to India's objective of streamlining its tax system.

The CBDT has published Notification No. 9/2025, which prescribes criteria for non-resident cruise ship operators under the presumptive taxation scheme established by the Finance (No. 2) Act of 2024. This announcement details the qualifying criteria, journey conditions, and vessel characteristics for taking advantage of the regime. Its goal is to streamline compliance, improve India's cruise tourist industry, and harmonize tax rules with international norms.

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.

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.