Section 194C TDS on Contractor Payment: Rates & Limits
Section 194C TDS on Contractor Payment Section 194C of the Income Tax Act, 1961, addresses Tax Deducted at Source (TDS) on payments to contractors and sub-contractors. This section ensures that tax is collected on time by making the payer deduct tax before making certain payments for work contracts. The term “contract” under Section 194C also […]
Income Tax Changes From 1st April 2025 with New Tax Rules
When India takes off into the financial year 2025-26, taxpayers will be confronted with one of the greatest changes in Income Tax Rules in recent years. As Finance Minister Nirmala Sitharaman makes some new changes under the redefined Income Tax framework, it is important that every unionized and entrepreneurial ear deciphers how these Income Tax […]
GST, Corporate Tax, and International Tax Changes Every CA Should Keep Up in 2025
The GST regime revolution, the new amendments of corporate tax and the dynamic international tax regulations are changing the way business is taxed and the way you advise the business in 2025. The following are significant modifications to inform your clients. GST Changes: What is Changing and What You Should Recommend? Purchased Slab Structure The […]
The New Income Tax Bill 2025 Explained: Key Takeaways!
The Indian Union Finance Minister Nirmala Sitharaman introduced a new income tax bill in the Parliament, i.e. in the Lok Sabha on February 13, 2025, around 2 pm. This bill aims to update tax laws to make it easier for people to follow the rules and lower the burden on taxpayers against the original Income […]
Interim budget 2025 for Indirect and Direct taxation
Interim Budget 2025 for Indirect and Direct taxation Part B Part B of the union budget 2025, released on February 1, 2025, outlines proposed tax changes, split into two sections: indirect and direct taxes. The indirect tax proposals aim to simplify customs duties, support local manufacturing, and provide relief to citizens, especially for medicines and […]
Navigating the Intricacies of Income Tax
To grasp the basic principles of income tax, we must first define it. It is an annual tax which is imposed on both individuals as well as businesses operating within the society by the government of the country. Income tax is the primary source of income for the government and the funds are used for […]
A New Look into the Income Tax Return System
If you are familiar with income taxes but you haven’t gotten a clear understanding of it, this blog is just for you. Basically it is a tax levied on the people as well as the businesses which operate within our society by the government of the country. The funds which are thus received are used […]