The Ministry of Corporate Affairs (MCA) has imposed a ₹3.5 lakh penalty on company and its directors for failing to approve and file financial statements and Board’s reports for two consecutive years.

Are you a salaried individual who gets confused during the ITR filing season, especially about what exactly counts as “Income from Salary” in Income Tax? You’re not alone! In this article, we simplify ...

Every country has its own regulatory framework for manufacturing and selling goods, and India is no exception. Importers bring various products into India for sale and distribution, but these products ...

The new Income Tax Bill 2025 has simplified how salary income is defined and taxed. But before diving into that, let’s clarify two important concepts: Different Heads of Income Under the New Bill All ...

The Union Budget 2025 introduces significant amendments in both income tax and GST laws, aimed at simplifying compliance, reducing tax burdens, and fostering economic growth. The income tax reforms ...

The threshold to collect tax at source (TCS) on remittances under RBI’s Liberalized Remittance Scheme (LRS) is proposed to be increased from Rs 7 lakh to Rs 10 lakh. It is also proposed to remove TCS ...

Are you an exporter looking to continue enjoying the seamless benefits of the Letter of Undertaking (LUT)? Now is the perfect time to renew or file your LUT for the Financial Year (FY) 2025-26. The ...

Tax on liquid funds is a critical aspect that investors must understand to stay compliant with income tax laws. Liquid funds, known for their high liquidity and low-risk nature, offer a convenient ...

The Goods and Services Tax (GST) has streamlined India’s indirect tax regime by creating a unified structure for various goods and services. Labour charges, a significant component in many industries, ...

Updating or changing details on the GST portal is essential for businesses to maintain accurate and up-to-date records with tax authorities. The GST portal allows registered taxpayers to modify ...

Before delving into the details of the GST on used cars, let's clarify a few key concepts: Applicability of GST on the Sale of Old Cars The applicability of GST (Goods and Services Tax) on the sale of ...

The employer suspends an employee against pending investigation or enquiry into complaints or charges of misconduct against the employee in such case the employer should pay suspension allowance to ...