How to manage repayments effectively on a personal loan of three lakhs Taking a Rs. 3 lakh personal loan can be a great way to meet short-term financial needs such as home repairs, education expenses, or even a dream holiday. But once the loan is approved, the real challenge begins — managing your repayments smartly. …
Procedure of Member’s Voluntary Winding Up under the Companies Act, 1956 A Members’ Voluntary Winding Up is a mode of voluntary liquidation initiated by the members (shareholders) of a solvent company — that is, a company capable of paying its debts in full within a specified period. This procedure is governed by Sections 484 to …
Top 10 Financial Transactions That Can Trigger Income Tax Scrutiny : The Income Tax Department keeps a close watch on high-value financial transactions. Many individuals and professionals may not realize that even routine financial activities can raise red flags if not properly reported. Taxpayer must Compliance today prevents scrutiny tomorrow. Stay informed. Stay compliant. Stay …
Overview of the Internal Audit Iceberg Concept Apache Iceberg introduces a powerful feature called Integrated Audits, which allows organizations to validate data before publishing it to production, ensuring high data quality and trustworthiness. Internal Audit Iceberg includes a high-performance table format for large-scale analytics. Supports multiple engines like Spark, Trino, Flink, Presto, Hive. & Enables …
Anti-Money Laundering (AML) and Sanctions Compliance Framewor Anti-Money Laundering (AML) Compliance : Anti-Money Laundering regulations are designed to prevent the concealment and movement of illicit funds through legitimate financial channels. Criminal entities often attempt to “launder” illegal proceeds to disguise their origins and integrate them into lawful economic activities. Non-compliance with AML regulations can expose …
Simplified GST Registration Scheme for small and low-risk businesses in India, A new optional scheme approved by the GST Council on 3 September 2025 to simplify GST registration for “small and low-risk” applicants. The idea is to grant GST registration automatically by the system (with minimal manual checks) for eligible applicants, instead of long/complex verification. …
GST is applicable on dinner coupons issued to members COUPONS (FOR COMMUNITY LUNCH/DINNER/PARTY) SUPPLY IS CONCERN: Supply of Dinner Coupons by Society/Association When a NGO/ / Society / Club / Association collects money from its members and provides them dinner coupons (for community lunch/dinner/party), it is considered a supply of service under GST. Even though …
GST Changes Coming in GST from October 2025 No Auto ITC in GSTR-2B : Until now: Input Tax Credit (ITC) auto-appeared in GSTR-2B (based on suppliers’ filing). From Oct 2025: ITC won’t auto-flow. This is to be noted that as per New Rule: Only invoices that you accept in IMS (Invoice Management System) will count …
New cheque clearing process in India starting from October 4, 2025 Existing System (Until Oct 3, 2025) : Clearing Method: Batch clearing Switch to Continuous Clearing (on‐realisation) : The current batch-wise settlement model for cheques will be replaced with a continuous clearing system. Rather than waiting for a fixed “cheque-clearance slot,” cheques presented during the …
Overview on Tax Treatment on Gratuity in India What is Gratuity? Gratuity is a lump sum paid by an employer to an employee in recognition of long-term service, governed by the Payment of Gratuity Act, 1972. It becomes payable on retirement, resignation, death, or disablement after at least 5 years of continuous service (not needed …