Under the GST regime, proper documentation is crucial for compliance and accurate tax reporting. Two important...
Debit Note and Credit Note: A Detailed Overview of GST Treatment.
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Government Update
Understanding the Wage Components Included in EPF Calculations.
The Employees’ Provident Fund (EPF) scheme is a mandatory retirement savings plan for employees in India, regulated by...
Section 40A(3A) of the Income Tax Act: Implications of Cash Transactions in Business.
Introduction The Indian tax landscape has undergone significant changes over the years, aiming to curb tax evasion and...
Input Tax Credit under GST – Important Points.
Introduction In the GST regime, Input Tax Credit (ITC) plays a crucial role in avoiding the cascading effect of taxes....
What is Capital Gains Tax in India: Types, Tax Rates, Calculation, Exemptions & Tax Saving.
Capital gains tax in India is a significant aspect of the income tax system, affecting both individuals and...
Deferred Tax Asset & Deferred Tax Liability: A Complete Guide
Deferred Tax Liabilities and Assets (AS 22): Deferred Tax Liability (DTL): Arises when taxable income is lower than...
EPFO Exemption: TDS Impact on Employee Perquisites.
Navigating the complexities of tax deduction at source (TDS) regulations can be challenging for autonomous bodies and...
Evidentiary Breach: Invalidating Cash Deposit Assessments Arising from Chartered Accountant’s Misuse of KYC.
Assessment years 2011-12 and 2015-16 Flow of Events: Initial Findings Revenue observes significant cash deposits in...
Important Update for Maharashtra Establishments from Maharashtra Labour Welfare Board.
New employee and employer contribution rates for the Maharashtra Labour Welfare Fund are now in effect, and online...
Tax Treatment of Lump Sum Settlement Payments Following Employment Termination, Without Further Obligation from Employer.
Case Study: Rahul's Tax Troubles After Termination: Introduction: Mr. Rahul, a dedicated employee at INX Media, faced...
Practical Case Studies on Old vs. New Income Tax Regime.
Introduction: In the bustling city of Mumbai, India, resides Priya, a middle-class working professional. She finds...
Is the New Tax Regime appealing enough? : Practical difficulty of New Tax Regime.
Background: Utilization Trends of the New Tax Regime The dual objectives outlined in the budget speech for the new tax...
Comparative analysis of Old Tax Regime and New Tax Regime.
The Hon’ble Finance Minister in her speech mentioned five major announcements impacting personal income tax rates and...
Changes In Income Tax Return Form No 1 to 4 for Assessment Year 2024-25.
No change in the applicability: The CBDT has not amended R12 of the Income-tax Rules, 1962, which outlines the...
Understanding the Latest Updates on PAN Inoperability: What You Need to Know!
The Ministry of Finance in India recently issued a crucial update that impacts millions of taxpayers and businesses....
TDS Rate Chart: Assessment Year: 2025-2026 Financial Year: 2024-2025.
Presenting the upcoming TDS Rate Chart for AY 2025–26, FY 2024–25! This TDS Rate Chart will help you understand the...
Amendments to Maharashtra State Tax on Professions, Trades, Callings, and Employments Rules 2024.
The Finance Department of Maharashtra recently issued the Maharashtra State Tax on Professions, Trades, Callings and...
Gujarat’s Minimum Wage Revisions for April-September 2024.
Introduction: Gujarat, one of India’s industrially progressive states, recently announced revisions to its minimum...
Maharashtra State Government Directive regarding Payment of Compensation to Voters for their Participation in Lok Sabha General Elections 2024.
State Government Directive regarding Payment of Compensation to Voters for their Participation in Lok Sabha General...
Aadhar Card is Not Proof Of Date Of Birth, School Leaving Certificate Can Be Considered To Determine Pension: Gujarat High Court
1. Introduction of the Case: The court order identifies the case as a Special Civil Application No. 16484 of 2022,...