As the Financial Year (FY) 2024-25 begins, it’s essential to plan ahead and utilize tax-saving options to reduce your tax liability. By taking advantage of various deductions under the Income Tax Act, you can lower your taxable income and optimize your savings. Here’s your ultimate guide …
The Income Tax Bill, 2025, which aims to simplify and restructure the existing Income-tax Act, 1961, has been tabled in Parliament. With taxpayers seeking clarity on the new tax regime, special rate provisions, and compliance requirements, here are some important takeaways: No Need to Opt for the New Tax …
The Income Tax Bill, 2025, aims to make income tax return (ITR) filing more structured and user-friendly. With streamlined provisions for taxpayers, exempt entities, and return deadlines, the proposed changes focus on better clarity and accessibility. Here’s how the new framework will impact taxpayers: 1. Easier Understanding of Return Filing …
The Institute of Chartered Accountants of India (ICAI) has issued important guidelines for candidates applying for the May 2025 CA exams. Aspiring Chartered Accountants must ensure their eligibility and complete the necessary formalities through ICAI’s Self Service Portal (SSP) before submitting their exam applications. Key Requirements …
The Institute of Chartered Accountants of India (ICAI) has announced Mock Test Papers Series – I & II for students appearing in the CA Foundation May 2025 and September 2025 Examinations. The tests will be conducted in both physical and virtual modes, with students opting for the physical mode required …
As you are aware that reducing tax liability under provisions of applicable tax laws is our right and supported by our Constitution. However, tax evasion and avoidance are not allowed. You have the right to plan your transactions so that you will be able to reduce …
LLP Annual Return Filing is a vital requirement beneath the Limited Liability Partnership Act, 2008, ensuring transparency, economic discipline, and compliance with regulatory authorities just like the Ministry of Corporate Affairs (MCA). This article shall help you in understanding the importance of LLP Annual Return Filing …
The Income Tax Bill 2025 introduces several key changes in the chapter on Profits and Gains of Business and Profession (PGBP), aimed at enhancing clarity, coherence, and compliance. Here’s a detailed look at the major amendments: 1. Revised Section Flow for Better Coherence The sequence of …
In a significant step toward regulating cryptocurrency transactions and curbing tax evasion, the government has proposed to include Virtual Digital Assets (VDAs) within the definition of “undisclosed income” under the block assessment scheme. This change, part of the Finance Bill 2025, means that any undisclosed crypto …
The Institute of Chartered Accountants of India (ICAI) has announced the schedule for online exam form submissions for the May 2025 Chartered Accountancy (CA) Examinations. Candidates appearing for Foundation, Intermediate, and Final exams must submit their applications through the ICAI’s online portal: eservices.icai.org. Key Dates for ICAI Exam Form Submission …
