DPIIT Recognized Startups Exempted from Angel Tax Provisions
CBDT has amended the provisions of the 'Angel Tax' under Section 56(2)(viib) of the Income Tax Act, 1961, to exempt or exclude start-ups recognized by the DPIIT, vide Notification …
Leave Encashment Exemption Limit Enhanced for Private Sector Employees
The tax exemption limit for non-government (private sector) salaried employees on leave encashment has been raised from Rs 3 lakh to Rs 25 lakh, effective April 1, 2023.
Clarifications on Tax Compliance Issues of Charitable Trusts
Exploare the clarifications provided by CBDT in Circular 6/2023 on registration, approval processes and compliance issues in respect of charitable and religious trusts under Income-tax.
CBDT Clarifications for TDS u/s 194BA on Winnings from Online Games
CBDT has issued clarifications/guidelines for removal of doubts of the online gaming platforms for compliance with requirements of TDS u/s 194BA on winnings, read with new IT Rule 133 …
MCA’s C-PACE: Corporate Exits Simplified
Discover how the Centre for Processing Accelerated Corporate Exit (C-PACE) simplifies the process of striking off companies from the MCA Register, fostering ease of doing business in India.
CBIC’s Automated GST Return Scrutiny Module: Enhancing Compliance
Discover the innovative Automated GST Return Scrutiny Module introduced by CBIC, designed to enhance tax compliance, reduce manual intervention and increase tax administration efficiency using data analytics.
GST e Invoicing: Reduction in Turnover Limit, Exclusions and Deadline Extensions by CBIC
CBIC announces a further reduction in the aggregate turnover threshold limit, from Rs 10 crore to Rs 5 crore, for 'e invoicing' of B2B transactions, effective 01/08/2023.
Second Phase of Peer Review now Mandatory from July 1, 2023: ICAI
The Institute of Chartered Accountants of India has announced that the second phase of Peer Review Mandate is now mandatory from July 1, 2023.
CBIC’s Special All-India Drive Against Fake GST Registrations
Discover how the CBIC's Special All-India Drive aims to combat fake GST registrations by detecting and eliminating fraudulent GSTINs, safeguarding government revenue and ensuring the GST ecosystem's integrity.
Timely Filing of GST Returns: GSTN Advisory to Taxpayers
Discover the insights from the GSTN advisory on timely filing of GST returns and learn valuable tips to ensure a hassle-free and efficient return filing experience.