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.

Both citizens and non-resident individuals will be impacted by the substantial changes to the capital gains tax structure brought about by the Indian Union Budget 2024. The changes, including uniform tax rates, TDS adjustments, and investment ramifications, are covered in detail in this blog. Learn how to modify tactics to conform to the most recent rules.

Selling assets such as stocks, mutual funds, or real estate during a brief holding period results in short-term capital gains, or STCG. The STCG taxation regulations, their effects, and the most recent revisions for 2024 are examined in this blog. Stricter crypto transaction monitoring, simplified ITR forms, updated STT rates, and improved reporting for high-value transactions are among of the major changes. Discover how to compute STCG, comprehend tax ramifications, and investigate methods for efficiently reducing tax obligations.

In order to lessen the tax burden on different types of payments, the TDS rates under Sections 194-IB, 194-DA, 194-G, 194-H, 194-M, and 194-O have recently changed. The TDS rate for insurance commissions, life insurance payouts, lottery commissions, brokerage fees, and rent payments will be lowered from 5% to 2% as of October 1, 2024, and April 1, 2025. A 2% tax under Section 194M will also be applied to payments made by non-auditable businesses to contractors and professionals. In addition, Section 194-O will apply a reduced TDS rate of 0.75% to e-commerce transactions. These adjustments aim to increase tax compliance across a range of industries and enhance liquidity for professionals, small enterprises, and individuals.

This blog post provides a comprehensive overview of the latest GST updates in India, including changes to e-invoicing, GST rates, ITC, annual return filing deadlines, and more.

This article offers a thorough overview of managing GST refund requests in 2024, including information on the revised procedures, qualifying standards, required paperwork, and filing guidelines. It also discusses typical errors and difficulties that companies go into while submitting GST refund claims. Keep yourself updated on significant developments to guarantee effective cash flow and tax law compliance.

The Income Tax Department will implement new TDS (Tax Deducted at Source) laws on October 1, 2024, with the goal of reducing tax evasion and enhancing compliance. Raised TDS thresholds for independent contractors, new real estate sales regulations, cash payments, and rent payments to non-resident landlords are some of these modifications. To ensure that taxpayers stay compliant, this blog offers a thorough summary of all the latest regulations and how they affect different transactions.

Stay ahead of the tax game! Discover the 5 key changes in TDS provisions that impact you and your business. From salaried individuals to business owners, this blog post covers it all. Read now and stay updated!

As the first quarter of the 2024-25 financial year ends, it's essential for taxpayers and businesses in India to be aware of important tax deadlines in July 2024. This blog provides a comprehensive guide on critical due dates set by the Income Tax Department and GST authorities. It covers deadlines for TDS deposits, TDS certificates, income tax returns, and GST filings, helping you stay compliant and avoid penalties.

This blog post provides a detailed overview of Section 133(6) of the Income Tax Act and how to handle an income tax notice issued under this provision. It covers the key points of the law, common reasons for receiving such a notice, and the steps to respond properly. The post emphasizes the importance of compliance, the consequences of non-compliance, and the role of professional assistance. Taxpayers will learn how to navigate the process of responding to a Section 133(6) notice to ensure they meet their obligations and avoid any adverse consequences.

Tax Collected at Source (TCS) under Section 206C of the Income Tax Act, 1961, is a crucial aspect of the Indian taxation system. This blog provides an in-depth look at TCS, detailing the specified goods and transactions, applicable rates, exemptions, compliance requirements, and recent amendments. By understanding these provisions, businesses can ensure compliance and avoid penalties. Stay informed about the latest updates and implications of non-compliance with this comprehensive guide.

This article provides comprehensive insights into the recent amendments to income tax regulations for the fiscal year 2024-25. It covers changes in slab rates, rebate limits, surcharge rates, and other important aspects that taxpayers need to be aware of for effective tax planning.