The TDS rates proposed in the Union Budget 2024 were approved in the Finance Bill and thus the revised TDS…
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Insights
Macro Economic Factors- September 2024
Macroeconomic indicators for September 2024 indicate sustained economic growth, with inflation remaining below the RBI’s target of 4% for the…
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Circulars – Key Clarifications as recommended by 54th GST Council Meeting
Circulars (Circular no.230,231,232 & 233) clarifying the various issues as recommended by the 54th GST council meeting. Download PDF:-
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Lower Tax Rate under India-Spain DTAA for Royalty and FTS
The Government of India (GOI) has issued Notification conferring lower tax rate benefit of 10% under the India-Spain Double Taxation Avoidance…
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Basic Understanding of IND AS 116
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Macro Economic Factors- March 2024
February 2024 catalogued a great set of numbers with GDP observing ambitious growth rate of 8.4% and the RBI MPC…
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Mandatory Registration- Input Service Distributor
Applicability of ISD- Clause 11 Chapter IV Finance Act 2024 Download PDF:-
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Processing of returns of income validly filed electronically with refund claims for AY 2021–22 beyond the prescribed time limit in non-scrutiny cases.
The CBDT issued an Order on March 01, 2024, to address issues with processing income tax returns of the Assessment…
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Macro Economic Factors- February 2024
The Macro-Economic indicators for the month signaled at a strong economic growth across all sectors of the economy. Industrial activity…
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Interim Budget- Input Service Distributor
Proposed Amendment- Distribution of ITC by the Input Service Distributor Download PDF:-
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Addition of clause (h) of Section 43B: Income Tax Implication on delay payment to Micro and Small Enterprises Registered under MSME Act,2006.
As per the Amendment made by the Finance Act, 2023 clause (h) has been inserted under section 43B, emphasizing that…
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APR Compliance – Requirement of Audit of Foreign Entity
Introduction of the new OI Rules has made it mandatory to file APR based on the audited financial statements of…
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Macro Economic Factors- January 2024
Macro-Economic indicators for the month reflects expansion throughout the economy at a moderate pace. While CPI inflation is again creeping…
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Date Extension- ITC Reversal, Reclaim and Order under section 73
CBDT extends time limit for passing order under section 73 and ITC reversal and reclaim Download PDF:-
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Feedback for High-Value Transaction Under e-Campaign on Compliance Portal
Under e-campaign, the income tax department sends emails/SMS to identified taxpayers to verify their financial transactions related to information received…
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Macro Economic Factors- December 2023
The Macro-Economic indicators for the month gave mixed signals. Foreign trade numbers have declined due to the global slowdown, but…
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