Top 5 Changes in Form 3CD (AY 2025-26) Top 5 Changes in Income Tax Audit Form 3CD for AY 2025-26 (FY 2024-25) based on the CBDT notification and expert commentary are mentioned here under: what is change in MSME Payments – Clauses 22 & 26 : Clause 22 now requires disclosure of timely vs. delayed …
What happen If Taxpayers in case Bank A/c Frozen in GST for Over 1 Year. Under Section 83(2) of the CGST Act “Every such provisional attachment shall cease to have effect after the expiry of a period of one year from the date of the order.” This means any provisional attachment of a bank account …
Taxability Under GST for E-Commerce Sale of Services Definition & Models of E-Commerce Electronic Commerce (Section 2(44)): Supply of goods/services over digital networks. E-Commerce Operator (Section 2(45)): Any person managing a digital platform for e-commerce. Business Models: Marketplace Model: Amazon, Flipkart. Inventory Model: Tata Cliq, Pantaloons. Aggregator Model: Uber, Swiggy, Urban Company. GST Registration Requirements- …
For an under-construction house, the tax treatment of home loan interest is a bit different from a ready-to-move property. Interest During Construction (Pre-Construction Interest) Not deductible during construction. It’s Called Pre-construction Interest. You cannot claim interest deduction U/s 24(b) until the construction is complete. Once construction is completed (i.e., you get possession or the completion …
CBDT Extends Tax Exemption Window for SWFs & Pension Funds The Central Board of Direct Taxes (CBDT) has officially extended the timeline for income tax exemptions under Section 10(23FE) of the Income Tax Act for Sovereign Wealth Funds (SWFs) and Pension Funds. The new deadline for qualifying investments is now March 31, 2030, up from …
How Restricted Stock Units vs Employee Stock Options taxation in India Types of ESOPs & Related Stock-Based Incentives Employee Stock Option Scheme (ESOS) : Employee Stock Option Plan allows employees the right (not obligation) to buy company shares at a predetermined price after a vesting period. Employees must decide whether to exercise based on the …
GST rate on Hospitality Industry/ Hotel Rooms in India The hospitality & tourism industry in India is expected to rise from INR 15.24 lakh crore (US$ 234.03 billion) in 2017 to INR 32.05 lakh crore (US$ 492.21 billion) by 2028. Implementation of GST has helped the sector by reducing costs for customers, harmonising taxes, and …
Why OIDAR is treated differently under GST Online Information Database Access and Retrieval (OIDAR) refers to services delivered over the internet in an automated way, with minimal human intervention, and that would not be possible without IT. Examples: Internet advertising, Cloud services, E-books, movies, music, software downloads, Online gaming, Digital data storage. If the service cannot …
Smart Term Insurance Picks for the Self-Employed Being self-employed is like walking a tightrope; you enjoy the thrill of independence, but you also carry the weight of responsibility without the safety net of a steady salary. Entrepreneurs, freelancers, and business owners know this all too well. While your business might be thriving today, tomorrow is …
FADA : Rs. 2,500 Cr Loss Risk from Compensation Cess Credits in GST 2.0 Transition The Federation of Automobile Dealers Associations has sounded the alarm over a potential INR 2,500 crore loss to auto dealers due to the impending removal of compensation cess without clear transitional guidelines. These credits, currently lying in dealers’ books, are …