Statutory Compliance Calendar – September 2025 5th September : SEZ: MPR filing. 7th September FEMA: ECB 2 Return. Income Tax: TDS/TCS remittance for August 2025. STPI: SERF. SEZ: SERF. 10th September GST: GSTR-7 (TDS) for August 2025. GST: GSTR-8 (TCS) for August 2025. GST: GST SRM-II (Special procedure for manufacturers of pan masala & tobacco products). …
Crypto F&O in India: Must Know About – How to Report in ITR? As Indian investors dive into crypto derivatives, few pause to consider the tax implications. Unlike spot trading, crypto Futures & Options raises tricky questions around classification, income treatment, and reporting. Here’s a breakdown of how these transactions are treated under Indian tax …
Made a Political Donation? Income Tax Dept Tightens Scrutiny Many taxpayers who claimed deductions under Section 80GGC (political donations) are now receiving income tax notices. Section 80GGC allows individuals to claim deductions for contributions to registered political parties or electoral trusts. However, due to a surge in fake or unsupported claims, the Income Tax Department …
Common Issues on Monitoring & Peer Review for Insolvency Professionals (IPs) Monitoring and peer review are key tools adopted by the Insolvency and Bankruptcy Board of India and Insolvency Professional Agencies to ensure compliance, transparency, and professional conduct by Insolvency Professionals. Common issues observed in Monitoring & Peer Review of Insolvency Professionals are identified Based …
How to Surrender Your PAN Card A person should hold only one PAN (Permanent Account Number) under the Income Tax Act. If you have been inadvertently allotted more than one PAN or need to cancel/surrender one, here’s the process: A PAN card is a vital financial identity in India. Every taxpayer must ensure they hold …
Next-Gen GST Reform : Ease of Living & Aatmanirbhar Bharat The Government of India has rolled out the Simplified GST Registration Scheme, GST refund marking a next-generation reform to strengthen the vision of Ease of Living and Aatmanirbhar Bharat. GST 2.0 is designed not just for taxation ease, but as a nation-building reform that’s fueling …
Filing ITR & Claiming TDS Refund for a Deceased Parent Obtain Proof That You Are the Legal Heir Apply through the local tehsildar / municipal corporation office for a legal heir certificate. Submit an application form, death certificate, PAN of deceased, your PAN, address proof, bank account details, and documents proving your relationship. Once verified, the tehsildar …
Central Board of Direct Taxes have indeed raised the exemption threshold for undisclosed foreign assets Following this legislative change, the Central Board of Direct Taxes has amended its internal instruction (dated August 18, 2025) to align prosecution thresholds with the revised penalty limits. Now, prosecution u/s 49 and 50 will not be initiated where penalties …
Section 7 Vs Section 9 IBC – Key Differences Every Creditor Must Know The Insolvency and Bankruptcy Code, 2016 has revolutionized the debt recovery landscape in India. Among its provisions, Section 7 (for financial creditors) and Section 9 (for operational creditors) are most frequently invoked before the National Company Law Tribunal’s. While both sections allow …
Old vs New Tax Regime: Evaluate each year before choosing. With ITR filing season around the corner, here’s the biggest question for every salaried individual. Should I opt for the Old Regime or the New Regime? After Budget 2023 & 2024, the New Regime has become the default, offering Lower slab rates Higher standard deduction …