A Common Misconception Recent changes in India’s income tax structure, particularly the introduction of rebates, have led to some confusion among taxpayers regarding their obligations to file Income Tax Returns (ITRs). Under the new tax regime…
The GSTN has issued Advisory dated 03.03.2025, regarding Enhancements in Biometric Functionality – Allowing Directors to Opt for Biometric Authentication in Their Home State. This update from GSTN enhances flexibility in the biometric authentication process…
As per amendment in section 200(3) of the Income-tax Act vide Finance Act, (No. 2) 2024, no correction statement shall be delivered after the expiry of six years from the end of the financial year…
The Authority for Advance Rulings, Tamil Nadu in the case of M/S. A2MAC1 INDIA PRIVATE LIMITED vide Order No. TN/29/ARA/2024 dated 06.12.2024, ruled that input tax credit on the purchase of motor vehicles used for providing taxable outward supply…
The State GST (SGST) Department has asked government departments, agencies and local self-government departments to take note of the changes in GST-TDS return filing applicable from April 1, 2025. As per the Rule 37 of…
Section 194T establishes a new framework for TDS on payments made by firms to their partners. The provisions of Section 194T are scheduled to take effect from April 1, 2025. Under this provision, any payment…
GSTN issued Advisory on New E-Way Bill (EWB) System Update – Enrolment for Unregistered Dealers (ENR-03) The GSTN has issued an Advisory dated 15.02.2025, regarding Introduction of Form ENR-03 for Enrolment of Unregistered Dealers/Persons in…