Meaning, Applicability & Filing Process of Form 15CA & 15CB When an individual or business sends money to a Non-Resident Indian (NRI) or a foreign entity, the sender is often required to file Form 15CA and Form 15CB with the Income Tax Department. These forms are vital for tracking foreign remittances and ensuring compliance with …
TDS Rules on Virtual Digital Assets (VDAs) u/s 194S of the Income Tax Act, 1961, Crypto & Income Tax in India (Post July 1, 2022) : TDS is Advance tax collected by exchanges like ZebPay on behalf of the Government. TDS deducted on On every sale or transfer of Virtual Digital Assets (VDAs) from July …
GST Council meetings in September and the possible GST reforms: Prime Minister Narendra Modi on Monday chaired a high-level meeting, which included top Union ministers, secretaries and economists, to deliberate on the roadmap for next-generation reforms, one of the key announcements he had made in his August 15 address Goverment moves ahead with the two-slab …
ICAI deferred Phase III & Phase IV of the Peer Review Mandate The Institute of Chartered Accountants of India (ICAI) has extended the enforcement deadlines for Phases III and IV of its peer review mandate. Originally scheduled for April 2024 and April 2025, the new deadlines have been revised to 1 July 2025 for Phase …
55th GST Council meeting issuance of 8 Notifications by CBIC The 55th GST Council meeting and subsequent issuance of eight notifications by the CBIC on January 16, 2025, reflect ongoing efforts to refine and enhance the GST framework. These aim to streamline tax rates, exemptions, compliance mechanisms, and definitions to ensure greater clarity and fairness …
Harmonized system of nomenclature (HSN) in Goods and Services Tax HSN CODE IS REQUIRED ON ALL B2B INVOICES FOR EVERY TAXPAYER. HSN codes to be declared under the GST in present circumstances Note: A registered person with a cumulative turnover of up to 5 crores rupees in the past financial year is not required to …
GSTN Advisory on the Waiver Scheme under Section 128A, issued on January 14, 2025: Taxpayers should review their eligibility and take immediate steps to leverage the waiver scheme for smoother GST compliance. For more details, visit the advisory section of the GST portal. For guidance on filing applications and other updates, refer to the GST …
Statutory Compliance Register required as per the Companies Act, 2013. The Statutory Compliance Register required as per the Companies Act, 2013, consolidates various statutory registers required for the company to maintain for compliance. This combined approach simplifies record-keeping while ensuring that all mandated registers are up-to-date and readily available for inspection by stakeholders or authorities. Here’s …
Right2Vote is a GOI Tested & Certified eVoting platform The information highlights the credentials and certifications of the Right2Vote eVoting platform, which emphasizes its compliance with security, quality, and government standards. Below are the key points summarized: Certification and Testing—eVoting Platform STQC Certification: Certified by the Standardization Testing and Quality Certification (STQC) Directorate under the …
NRIs, PIOs, and foreign nationals – Foreign Remittances and Tax Implications This notification, FEMA 13 (R)/2016-RB, issued by the Reserve Bank of India on April 1, 2016, governs the remittance of assets outside India under the Foreign Exchange Management Act (FEMA), 1999. The regulations provide a framework for NRIs, PIOs, and foreign nationals to remit …