Section 194LBC: New TDS Rates on Securitization Trust Income
Introduction Section 194LBC was introduced by Finance Act, 2016 with effective from June 1, 2016. It applies to securitization trusts, […]
TDS Rates: Updated Chart As Per Budget 2025
TDS rates are the percentages at which tax is deducted from various types of payments made to individuals or entities.
Income Tax For Senior Citizens: Limit Doubled For FY 2025-26
Income Tax for Senior Citizens above 75 years are exempt from paying income tax. Who are called Senior Citizens? Senior
80GGC: IT Dept Begins Verification of Donation Deductions
Section 80GGC is a part of Chapter VI-A of the Income Tax Act, 1961 which include deduction towards donations made
GSTR-3B: Liability Editing Still Allowed for Now
GSTR-3B is a summary of supplies made during the month along with GST to be paid. It discloses summary of
Invoice Management System: Key Scenarios for GSTR-2B Generation
Invoice Management System (IMS) is a new functionality developed on the GST portal which allows taxpayers to manage their invoices
Reporting of HSN Codes in GSTR-1: New Rules for 2025
Starting with the February 2025 return period, Table 12 of GSTR-1 and 1A has been updated to Phase-III HSN reporting
Section 16(4) of CGST Act: ITC Demand Order Rectification Now Enabled
General Rule for ITC Every registered persons can claim ITC on goods or services used for business purposes which are
GSTR-9 Late Fees: Cost of Delay in Filing
GSTR-9 late fees is levied when a taxpayer delayed in filing return beyond the due date. It is charged per
Belated Return: Due Date Extended To 15th January 2025
Belated Return means the tax return which is filed after the original due date specified by the Income Tax Department.
Credit Note and IMS: Key Changes from 55th GST Council Meeting
Credit note is issued when a supplier need to reduce the value of an invoice already issued. It may be
GST Interest and Penalty Waiver: Tips To File SPL-02 Is Here
GST Interest and Penalty Waiver Scheme under Section 128A provides provide a big relief to the taxpayers for reducing the