Complete Understanding of Section 44BBD of the Income-tax Act, 1961 – New Presumptive Tax Regime for Non-Residents Introduction The Finance Bill, 2025, introduces Section 44BBD, which establishes a presumptive taxation regime for non-resident entities providing technology and services to Indian companies operating in the electronics manufacturing sector. This move simplifies tax compliance for foreign entities …
Investment in NHAI, REC, PFC, & IRFC Bonds For Capital Gain Exemption U/s 54EC Section 54EC of the Income Tax Act allows income tax taxpayers to claim an exemption on long-term capital gains arising from the sale of land, buildings, or both by investing in specified 54EC Capital Gain Bonds. If a person has sold …
Critical concerns faced by MSMEs & Exporters under GST A parliamentary panel flags issues faced by Micro, Small & Medium Enterprises, exporters under Goods and Services Tax. Micro, Small & Medium Enterprises and exporters face several critical concerns under the Goods and Services Tax Regime, affecting their compliance, cash flow, and operational efficiency. This report …
CIRP Amendments Regulations Impact on CoC, Homebuyers, & MSME The recent amendments to the Insolvency Resolution Process for Corporate Persons Regulations by the Insolvency and Bankruptcy Board of India have introduced key changes that will impact the Committee of Creditors, homebuyers, and Micro, small, and medium enterprises. These amendments, effective from 3rd February 2025, aim …
Registrar of Companies Compliance Calendar for Private Limited Companies Pvt Ltd Co. & LLO FY 2025-26 The ROC operates under India’s MCA and is responsible for Company registration and record maintenance and Enhancing transparency, accountability, & Corporate governance in businesses also Ensuring compliance with the Co. Act, 2013. Avoiding Penalties Non-compliance leads to heavy fines, …
Bombay High Court : Directive to ICAI for former CA professional ethics enforcement This Bombay High Court ruling in Principal Commissioner of Income Tax vs. M/s Buniyad Chemicals Ltd. underscores the regulatory responsibilities of The Institute of Chartered Accountants of India set up by an act of parliament. The Institute of Chartered Accountants of India …
FAQs on Goods and Services Tax Registration Can I have one goods and services tax number for 2 businesses in the same state? Yes, if both businesses fall under the same Permanent account number & are not categorized as distinct business verticals, they can operate under a single goods and services tax number. However, if they …
TDS on Payments to Partners Section 194T (w.e.f. 1.04.2025) Payments Covered U/s 194T : The Union Budget 2024 introduced Section 194T, which mandates Tax Deducted at Source (TDS) on certain payments made by a firm to its partners. This provision aims to increase tax compliance and transparency in partner remuneration and other payments. The following …
India’s Senior Citizens are a happy Lot This is a comprehensive overview of the status of senior citizens in India, covering demographics, life expectancy, economic activity, literacy rates, disabilities, and crime rates. It highlights key challenges and government initiatives to support elderly welfare. However, there are areas where India lags behind compared to the U.S., …
Guidance on Peer Review Process for Insolvency Professionals. The Peer Review Policy issued by the ICAI (IIIPI) provides a structured framework for evaluating the performance of Insolvency Professionals. Peer Review Process for IPs is an important mechanism for ensuring compliance, improving professional standards, and maintaining transparency in insolvency resolution processes. The IBBI has been working …