Sales Team Budget Update 2025 FINANCE BILL, 2025 – KEY AMENDMENTS IN TAXATION 1. Personal Income Tax Amendments 🏠💰 Section 87A: Tax rebate limit increased to ₹12,00,000 with a maximum rebate of ₹60,000. Section 115BAC (New Tax Reg... 01-Feb-2025 Blog
Sales Team GST RATES FOR BUILDERS & DEVELOPERS 1. GST ON RESIDENTIAL PROJECTS (a) Affordable Housing: GST @ 1% (without ITC) A residential apartment qualifies as affordable housing if: Metro Cities: Carpet area ≤ 60 sq. meters & Cost ≤ ₹45 lakh No... 25-Jan-2025 Blog
Sales Team Taxation of Capital Subsidy Received 1. Income Tax Treatment of Capital Subsidy under PSI 2019 The taxability of a capital subsidy depends on its nature and utilization: a) Capital Receipt vs. Revenue Receipt If the subsidy is provided f... 21-Jan-2025 Blog
Sales Team Reversal of ITC under GST REVERSAL OF ITC UNDER DIFFERENT SITUATIONS 1. As per Rule 37 Condition : ITC must be reversed if payment to the supplier is not made within 180 days from the invoice date. Example 1 : A company purcha... 24-Dec-2024 Blog
Sales Team GST on Advance Received 1. Liability to Pay GST on Advances for Goods and Services Section 12(2)(b) (Time of Supply of Goods): GST on goods is payable at the earliest of: Date of issue of invoice. Last date on which the invo... 24-Dec-2024 Blog
Sales Team Audit Trail Under Companies Act Effective April 1, 2023, the Ministry of Corporate Affairs (MCA) in India mandated that all companies maintain their books of account using accounting software equipped with an audit trail feature. Th... 23-Dec-2024 Blog
Sales Team Common Reasons for Rejection of Company Name COMMON REASONS FOR REJECTION OF COMPANY NAMES Selecting an appropriate name for a company is a crucial step in the business incorporation process. However, many proposed names are often rejected due t... 18-Dec-2024 Blog
Sales Team Importance of GST Registration The Importance of GST Registration for Businesses in India The Goods and Services Tax (GST) has transformed the way businesses operate in India, simplifying the complex tax structure into one unified ... 29-Nov-2024 Blog
