India Financial Consultancy -

January 25, 2025 / Business Services

Govt Plans Social Security Scheme for Gig Workers

Indian Govt is preparing to implement social security benefits for gig workers, such as those working with platforms like Zomato, Swiggy, Ola, and Uber. Under this initiative, these platforms will be required to deduct a portion of the workers’ payments and deposit it into the Employees’ Pension Scheme.

This move aligns with the provisions of the Code on Social Security, 2020, which aims to extend social security benefits—including life and disability cover, accident insurance, health and maternity benefits, and old age protection—to gig and platform workers. Additionally, the Govt plans to contribute 3-4% to this scheme.

These efforts reflect a growing recognition of the importance of providing social security to gig workers, who often face job insecurity and income uncertainty. The Govt is actively working to implement the Social Security Code to provide much-needed protection for gig workers.

January 25, 2025 / GST

Key highlight in 55th GST Council Meeting

Key highlight in 55th GST Council Meeting (January 15, 2025) The 55th GST Council Meeting demonstrated a proactive approach to addressing key sectoral challenges, refining tax rates, and simplifying procedural complexities. These updates aim to improve clarity and compliance for taxpayers while simplifying specific processes under GST, particularly regarding annual return filings, ISD mechanisms, and …

February 11, 2025 / Direct Tax

New Tax Regime & Proposed taxation system

Analysis of Issues in India’s New Tax Regime & Proposed Taxation system India’s tax system offers two personal tax regimes: Old Tax Regime: Higher rates, numerous exemptions and deductions. New Tax Regime : Lower rates, fewer deductions, now the default option. Both regimes allow a INR 50,000 standard deduction for salaried individuals, ensuring some parity …

January 27, 2026 / Business Consultancy

Comparison of Fixed Deposits & Life Insurance Plans

Comparison of Fixed Deposits (FDs) and Life Insurance Plans Under this blog, we provide the details of the comparison of Fixed deposits and Life Insurance Plans as financial tools for achieving specific objectives. Both fixed deposits and Life insurance plans serve distinct purposes. FDs are reliable for saving and securing capital, while Life insurance addresses …

January 16, 2025 / Direct Tax

C Gain : Sale Consideration is less than stamp duty value

Taxation of property transactions where the consideration is less than stamp duty value Section 56(2)(x) of the Income Tax Act was introduced to address the taxation of gifts or property received without adequate consideration. It replaced the earlier provisions under Section 56(2)(vii) and (viia) and widened the scope to include all categories of taxpayers (individuals, …

June 27, 2026 / GST Compliance

SC Stay ₹1.5 trillion of GST notice against online gaming Co

Supreme Court: Stay INR 1.5 trillion worth of GST notices against Online Gaming Co. The recent Supreme Court decision to stay INR 1.5 trillion worth of goods and services tax notices against online gaming companies has significant implications for both the gaming industry and tax authorities. Here’s a detailed breakdown of the developments Key Details …

October 27, 2025 / GST Compliance

Credit Note Disclosure in GSTR-9 Annual Return Filing

Credit Note Disclosure in GSTR-9 Annual Return Filing Under GST, suppliers of goods or services must issue a tax invoice for every taxable supply. However, when the taxable value of the supply decreases due to specific circumstances, the supplier is required to issue a credit note. This ensures proper adjustment of tax liability and helps …

January 11, 2026 / GST Compliance

GST Compliance for Credit Notes: Separate SAC/ HSN code

GST Compliance for Credit Notes: a separate SAC or HSN code In GST, credit notes for trade discounts and cash discounts are linked to the original transaction and are not assigned a separate SAC (Service Accounting Code) or HSN (Harmonized System of Nomenclature) code. Here’s how it works: Reference to the Original Invoice: A credit note …

January 11, 2025 / GST Compliance

GSTN advisory on Reporting HSN codes in GSTR-1 & GSTR-1A

GSTN advisory on implementation of reporting HSN codes in GSTR-1 & GSTR-1A GSTN advisory issued by GSTN regarding the implementation of Phase-III for reporting HSN codes in GSTR-1 and GSTR-1A introduces significant enhancements to streamline the reporting process. The advisory regarding HSN code reporting in Table 12 of GSTR-1/1A highlights several changes introduced in Phase-3 …

December 31, 2025 / IBC

Comprehensive Breakdown Analysis of Sec 29A of IBC code

Comprehensive Breakdown Critical Analysis of Sec 29A of the IBC code The introduction of Sec 29A in the IBC, 2016, marked a critical step in preventing errant promoters and connected parties from misusing insolvency proceedings to regain control of their defaulting businesses. Sec 29A of the IBC outlines the ineligibility criteria for resolution applicants during …