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The business can effectively manage its taxes using payroll software, particularly when it comes to TDS (Tax Deducted at Source). The software streamlines tax calculations, manages employee salaries, and handles various deductions. Form 24Q and Form 16 are the types of paperwork that payroll software navigates, sending reminders or automating payments to ensure due dates […]
The recent report from the Comptroller and Auditor General (CAG) about Karnataka’s finances reveals some important issues. It showed that there were problems with how taxes were managed and enforced in various government departments. These issues led to a significant loss of revenue, totalling ₹1,260.41 crore. The findings of the report were shared in the […]
The Visakhapatnam Bench of the Income Tax Appellate Tribunal (ITAT) reviewed the validity of an assessment conducted under Section 144 of the Income Tax Act, 1961. The focus of the examination was whether this assessment could be upheld or rectified at a later stage despite the absence of a required notice under Section 143(2) of […]
The indian auto sector is ready for the game-changing policy move. According to reports, the government will rationalise Goods and Services Tax (GST) rates on automobiles. The auto sector will surge from this GST rate reduction; passenger vehicle majors Maruti Suzuki, Mahindra & Mahindra (M&M), Ashok Leyland, and TVS Motor are among the biggest beneficiaries. […]
The deadline for submitting Form GSTR-3B for July 2025 has been pushed back by the Central Board of Indirect Taxes and Customs (CBIC). This announcement was made in a notification issued on August 20, 2025, right when the original deadline was approaching. According to the central tax notification No. 12/2025, the amended due date to […]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that a widow is entitled to claim Tax Deducted at Source (TDS) credit based on her deceased husband’s income. This decision clarifies the rights of widows regarding tax credits related to their late spouses. As per sub-rule (2) of Rule 37BA and sub-rule […]
Prime Minister Narendra Modi has chaired a high-level meeting with senior ministers, secretaries, and economists to discuss the roadmap for ‘next-generation reforms’ and a modification of GST laws. The Prime Minister shared a post on X, saying, “Chaired a meeting to discuss the roadmap for Next-Generation Reforms.” “We are committed to speedy reforms across all […]
The amended GST structure may overhaul the categorisation of passenger vehicles and the tax slabs under which they fall, thereby reducing the burden on entry-level cars. The move aims to address distortions that have developed in the auto tax structure over the years. At present, most items are taxed at 28%, but the proposal is […]
The Gauhati High Court has allowed two months for the company to restore its Goods and Services Tax (GST) registration. This registration was cancelled because it failed to file its GST returns for six consecutive months. The applicant, D.D. Construction is registered under the provisions of the Central Goods and Services Tax (CGST) Act, 2017/Assam […]
