The Government under the leadership of Honourable Prime Minister Mr. Modi believes in “Sabka Saath, Sabka Vikas, Sabka Vishwas and Sabka Prayas”. In line with this, government brought in updated return facility in 2022 for…
Effective from April 1, 2026, Section 44BBD introduces a special provision for taxing non-residents providing services or technology for electronics manufacturing in India. Key Provisions: Applicability: Non-residents offering services/technology to resident companies setting up electronics…
Government proposed to reduce the compliance burden for small charitable trusts/institutions by increasing their period of registration from 5 years to 10 years. It is also proposed that disproportionate consequences do not arise for minor…
Presently tax-payers can claim the annual value of self-occupied properties as nil only on the fulfillment of certain conditions. Considering the difficulties faced by taxpayers, government proposed to allow the benefit of two such self-occupied…
An amendment has been made to clarify the responsibilities of authorized dealers and overseas tour program package sellers under the Liberalised Remittance Scheme. Previously, they were required to collect income tax of twenty percent on…
GST Practioneers need to gear up for changes in GST Return filing procedures. Reporting of HSN codes in Table 12 of GSTR-1 & 1A is being implemented from February 2025 return period. Table-12 has been…
The Central Government, on the recommendations of the Council, hereby waives the amount of late fee referred to in section 47 of the said Act in respect of the return to be furnished under section…
🔹Manual entry of HSN has been replaced by choosing correct HSN from given Drop down 🔹Table-12 has been bifurcated into two tabs namely B2B and B2C, to report these supplies separately. 🔹Validation regarding values of…