Advantages of Taking a Gold Loan Against Your Jewellery A gold loan can be a practical solution if you need quick access to funds. By pledging your gold jewellery as collateral, you could unlock its value without having to sell it. This type of loan is not only easy to avail but also comes with …
Summary on the ITR-U & Amendments in the Budget 2025 Introduction: ITR-U allows taxpayers to rectify mistakes or omissions in previously filed returns, including original, belated, or revised returns under Section 139(8A) of the Income Tax Act. It serves as an option for taxpayers to ensure accurate tax filing and compliance. With the Budget 2025 …
Moratorium under Insolvency and Bankruptcy Code (IBC), 2016 The moratorium is a key feature of IBC, ensuring the Corporate Debtor’s assets remain protected during CIRP, thereby maximizing resolution opportunities. It balances creditors’ rights with the debtor’s need for restructuring, preventing disruptive enforcement actions. The moratorium is a temporary suspension of legal proceedings and enforcement actions …
Overview on Mandatory Requirement of AFA under IBC Code This document provides an overview of the Authorisation for Assignment under the IBBI (Insolvency Professionals) Regulations, outlining its meaning, eligibility criteria, procedural aspects, and key do’s and don’ts for Insolvency Professionals. The AFA is a crucial requirement for insolvency professionals under the Insolvency and Bankruptcy Code, …
No More 54EC benefits for depreciable assets under Income Tax Bill 2025 The proposed changes in the new Income Tax Bill 2025 regarding Section 54EC deductions reflect a significant shift in how capital gains reinvestment exemptions will be treated, particularly concerning depreciable assets. Old Interpretation on 54EC Benefits under Pre-2025 Bill U/s 54EC of the …
Whether NGO allowed permissible commercial activities & investment modes? The proposed Income Tax Bill, 2025, indeed aims to provide clarity for non-profit organizations (NPOs) on issues such as permissible commercial activities and investment modes. While these provisions are expected to bring more certainty and help reduce litigation, the call for further clarification is valid. Would …
Can Employees Be Made Liable If TDS Is Deducted But Not Paid by the Employer? Background & Legal Framework Section 199 of the Income Tax Act: TDS deducted by the employer and paid to the government is treated as tax paid on behalf of the employee. The CBDT is authorized to issue rules regarding TDS credit to …
GST Applicability on Inter-Unit Transfers, Job Work, Repairs or Return of Goods Transportation of Goods for Job Work : Goods can be sent by the principal (owner of goods) to a job worker for processing, repair, or any work that transforms or enhances the goods. (Rule 45 and 55 of the CGST Rules, 2017). Documentation: …
MCA has extended the deadline for Pvt Ltd co to dematerialize their securities to June 30, 2025 This is to inform you that the Ministry of Corporate Affairs has extended the deadline for private companies to dematerialize their securities to June 30, 2025, through an amendment to Rule 9B of the Companies (Prospectus and Allotment …
Taxation on Sale of Property under Income Tax Bill, 2025 The New Income Tax Bill, 2025, introduced in the Lok Sabha on February 13, 2025, aims to simplify and modernize India’s tax laws. While the bill largely aligns with the existing provisions of the Income-tax Act, 1961, it introduces certain changes concerning the taxation of …