BUDGET 2025-2026
On
February 1, 2025, India's Finance Minister presented the Union Budget for the
fiscal year 2025-2026. Themed "Sabka Vikas" (Inclusive Growth), it
focuses on economic growth, tax relief, and investments in key sectors like
agriculture, MSMEs, innovation, and infrastructure.
- 8th Feb 2025
- Category: Taxation
- views: 80
Section 194T Compliance is Mandatory from 1st April 2025!
Effective from 1st April 2025, the Income Tax Act
introduces a new compliance requirement under Section 194T for payments made to
partners. If a firm makes payments such as salary, bonus, commission, or
interest to its partners exceeding ?20,000 during a financial year, it will be
liable to deduct TDS (Tax Deducted at Source) at the rate of 10%.
- 21st Jan 2025
- Category: Taxation
- views: 94
Time of Supply in GST
The Time of Supply under GST determines when GST
liability arises. Understanding these rules is essential for timely compliance
and accurate tax payments.
- 16th Jan 2025
- Category: Taxation
- views: 68
Place of Supply in GST
The Place of Supply under GST is essential for
determining whether a transaction is intra-state or inter-state, which decides
the type of tax—SGST and CGST for intra-state or IGST for inter-state.
Understanding these rules ensures compliance and correct tax application.
- 10th Jan 2025
- Category: Taxation
- views: 78
