Compliance Calendar: January 2025 Compliance Deadlines for January 2025 7 January 2025 TDS/TCS Deposit Deposit TDS/TCS deducted or collected for December 2024, except for Sections 194-IA, 194-IB, 194M, and 194S. Quarterly TDS Deposit for October to December 2024 for taxpayers permitted under Sections 192, 194A, 194D, and 194H. GST Filing (GSTR-7 & GSTR-8) File returns …
Implementing the Digital Personal Data Protection Act, 2023 The draft Digital Personal Data Protection Rules, 2025, introduced by MeitY, provide the much-needed framework for implementing the Digital Personal Data Protection Act, 2023. Sixteen months after the new Digital Personal Data Protection Act, 2023 (hereinafter referred to as the “Act”), the Ministry of Electronics and Information …
Section 87A Rebate Restored- utility update disallowed rebate on Special Rate Income The Income Tax Department’s announcement about the updated utilities for ITR-2 and ITR-3 incorporating Section 87A rebate provisions is a notable development, especially for taxpayers dealing with income taxed at special rates such as Short-Term Capital Gains u/s 111A and Long-term capital gains …
GSTN Clarification on GST Portal Issues/ Errors Encountered The Goods and Services Tax Network (GSTN) has recently addressed several issues encountered on the GST portal: Duplicate Invoices in GSTR-2B: Some taxpayers have reported duplicate invoices in their GSTR-2B for September and October 2024. This duplication resulted from a technical glitch in the Invoice Matching System …
SWOT Analysis- is tool of self-assessment framework for CFOs The “SWOT Analysis” focuses on a structured self-assessment framework for CFOs, enabling them to evaluate personal and professional challenges, strengths, weaknesses, opportunities, and threats. Executive Summary & Main part of SWOT analysis: CFOs face challenges including: Balancing strategic and operational demands: Managing long-term strategies while ensuring …
Recommendations from the 55th GST Council Meeting The GST Council, chaired by Finance Minister Nirmala Sitharaman, made significant recommendations aimed at streamlining GST operations, reducing tax rates, and facilitating trade compliance. These recommendations provided by the GST Council cover a wide range of updates and policy changes, aiming to revise tax rates, streamline compliance processes, …
SME IPOs Overview Small and medium enterprises can raise capital by offering shares to the public through SME IPOs. These IPOs enable SMEs to list their shares on specific SME platforms of stock exchanges, namely NSE Emerge and BSE SME, designed exclusively for smaller enterprises. SME IPOs serve as a gateway for small businesses to …
Understanding the Consequences of CPE Non-Compliance for Chartered Accountants from 2024 Onwards Continuing professional Education is essential for Chartered Accountants, serving as a cornerstone for maintaining the integrity and competence of the profession. The Institute of Chartered Accountants of India has underscored the significance of CPE by introducing structured consequences for non-compliance, starting from the …
SEBI Proposes modernizing India’s financial ecosystem by leveraging govt backed digital infrastructure (DigiLocker) The Securities and Exchange Board of India proposal to integrate DigiLocker for managing securities and mutual fund holdings represents a forward-looking initiative aimed at reducing unclaimed assets and streamlining the transfer of financial holdings to rightful heirs. Securities and Exchange Board of …
Overview Data Protection Impact Assessment (DPIA) A Data Protection Impact Assessment is a systematic process for identifying, analyzing, and mitigating risks related to the processing of personal data. It enables organizations to ensure compliance with data protection laws while balancing business operations and privacy obligations. A DPIA is a proactive privacy risk assessment aimed at …