New Wage Codes – Impact & Immediate Actions Required India’s four Labour Codes—Code on Wages, 2019, Industrial Relations Code, 2020, Code on Social Security, 2020, and Occupational Safety, Health and Working Conditions Code, 2020—usher in unified definitions and streamlined compliance rules that reshape how organizations design compensation, compute statutory benefits, and run payroll. Effective from …
Common Reasons for GST Notices, Sending & Compliance GST notices are official communications issued by GST authorities for reasons such as non-filing of returns, discrepancies, ITC mismatches, or other compliance issues. They require timely responses to avoid penalties or adverse actions. GST is based on self-assessment and self-certification, requiring taxpayers to comply proactively. Notices under …
All about the Latest GST Amendments for FY 2024–25 & FY 2025–26 GST is firmly moving towards real-time compliance, system-driven checks, and accountability. Businesses must shift from reactive filing to continuous compliance monitoring. The government has introduced far-reaching reforms in the GST framework for FY 2025–26, aimed at improving ease of doing business, tax governance, digital security, …
Overview of CBDT’s Warning Fraudulent Deduction Claims on Donations CBDT has launched a press release as part of an awareness campaign to combat fraudulent deduction claims in income tax returns, particularly those u/s 80GGC (donations to political parties) and 80G (donations to charitable institutions). This targets bogus claims filed through intermediaries who issue fake receipts …
Post-incorporation Compliance of Indian Pvt Ltd company Brief Introduction Getting the Certificate of Incorporation is only the starting point; the company and its directors must thereafter comply with a series of post‑incorporation and annual requirements. Non‑compliance can lead to monetary penalties, disqualification of directors, and even striking off of the company, so understanding timelines and …
Company formation in Dubai related Regulatory Requirements Dubai allows IT companies including those engaged in software development, IT services, hardware trading, import/export of IT equipment, and tech-enabled services to operate under two broad regimes: Mainland vs. Free Zone: Regulatory Differences in company formation in Dubai Dubai Mainland (DED – Department of Economy & Tourism) Regulated …
Foreign Income Not in Your ITR? Expect a Sharp NUDGE Before Dec 31! What is NUDGE 2.0? CBDT has launched NUDGE 2.0—a proactive, data-driven initiative to strengthen voluntary compliance for foreign assets and overseas income in AY 2025–26 ITRs. It uses global data-sharing systems like AEOI, CRS, FATCA, and information from overseas financial institutions to …
Car Insurance for Electric & Hybrid Vehicles: What You Should Know Electric and hybrid vehicles are rapidly gaining popularity in India as more people embrace sustainable mobility and look for greener alternatives to traditional fuel-based cars. These vehicles not only help reduce carbon emissions but also offer long-term savings on fuel and maintenance costs. However, …
ED Search Operation on cheating & non-completion of real estate projects Enforcement Directorate Search operation in six locations in Delhi and Gurugram on cheating & non-completion of real estate projects. Search operations conducted by ED. Such a search was conducted with the objective of investigating undervaluation of land through misuse of the IBC process on …
GSTR-9 Annual Return Not Required from FY 2024-25 Onwards- GST Relief for Small Taxpayers The CBIC has issued a big compliance relief for small taxpayers by exempting them from filing the annual GST return (GSTR-9). This exemption applies from the financial year 2024–25 onwards and aims to simplify compliance for businesses with relatively modest turnovers. The CBIC, …