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# taxcompliance

12 posts in `taxcompliance` tag

Interpreting the CBDT’s Seventh Amendment Rules, 2025: Section 194T and Its TDS Effects.

The 7th Amendment Rules 2025 established by the CBDT introduces Section 194T, which requires a 10% TDS on salaries, bonuses, commissions, and other earnings. Understand its implications, necessary compliance measures, and how both businesses and individuals should adjust.

Scrutiny on Rental Income: Tax Notices for TDS Non-Compliance on High Rent

The Income Tax Department is intensifying its efforts against non-compliance regarding TDS deductions for rental payments that exceed 50,000 per month. Understand Section 194IB, the penalties for failing to deduct, and the procedures to follow when addressing tax notices.

Rental Earnings Being Evaluated: Income Tax Notifications for Non-Withdrawal of TDS on Elevated Rent

The Income Tax Department is intensifying its efforts against non-compliance regarding TDS deductions for rental payments that exceed 50,000 per month. Understand Section 194IB, the penalties for failing to deduct, and the procedures to follow when addressing tax notices.

HRA Notice Alert! How to Respond and Prevent Future Issues

This detailed guide outlines the reasons taxpayers are issued HRA scrutiny notices, particularly for claims exceeding 5L. It also covers how to react by verifying claims, settling any unpaid TDS under Section 194IB, modifying ITR, and providing CA certificates to prevent penalties and future audits.

Safe Harbour Guidelines & Income Tax Changes for AY 2025-26

The blog explores the important updates brought forth by Notification No. 21/2025 for the assessment year 2025-26, focusing on the amended Safe Harbour Rules under Section 92CB. It emphasizes crucial modifications, criteria for eligibility, and actionable steps for taxpayers to achieve compliance and minimize disputes.
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GST

GST Rules 42-43 Explained: How Interest Qualifies as Exempt Supply

This guide outlines how interest income is treated under GST as exempt supply according to Rules 42-43, addressing ITC effects, compliance obligations, and the implications for financial institutions.

Last Notice! Alert from the Income Tax Department: Submit your ITR for AY 2023-24 by March 31, 2025 - Avoid Higher Taxes and Interest!

This important reminder highlights the crucial deadline of March 31, 2025, for submitting your ITR for AY 2023-24. Discover the penalties associated with late submissions, typical errors to steer clear of, and a detailed guide to help you file your tax return promptly.

Section 142(1) Income Tax Notice: Why You Received It & How to Respond

This blog offers a comprehensive explanation of Section 142(1) of the Income Tax Act, 1961, detailing the reasons for the issuance of notices, the appropriate ways to respond, and the repercussions of failing to comply. Discover how to effectively handle tax notices and maintain adherence to tax regulations.
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GST

Navigating the GST Waiver Program: An All-Inclusive Guide to SPL 01, SPL 02, DRC-03, and Frequently Encountered Problems

This blog offers a comprehensive overview of the GST Waiver Scheme, highlighting key forms such as SPL 01 and SPL 02, along with alternative payment options like DRC-03 and DRC-03A. It also discusses frequent technical challenges encountered on the GST portal and outlines significant deadlines for tax payments and waiver applications.
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GST

Mandatory ISD Registration Under GST from April 1, 2025: Who is Affected?

This blog offers a detailed examination of the compulsory ISD registration under GST, which begins on April 1, 2025. It discusses the importance, the registration procedure, and the effects on businesses. Keep yourself updated and compliant with this thorough guide.

Intimation Notice Under Section 143(1): What It Means and How to Respond

This blog offers a detailed overview of the Intimation Notice as per Section 143(1) of the Income Tax Act. It outlines the various types of notices, what they include, their significance, and the actions to take when you receive one. Follow this thorough guide to ensure compliance and address any discrepancies.

Act Now! March 31, 2025, is the Last Date for Section 43B(h) Compliance

Section 43B(h) requires MSMEs to make timely payments for tax deductions. Businesses must comply by March 31, 2025, or face financial consequences. Learn about the consequences and procedures for compliance.