Union Budget 2025 – Key GST & Tax Updates
Introduction The Union Budget 2025, presented on 1st February 2025, introduces major changes in GST compliance, ITC claims, tax liability, and penalties. Here’s a complete analysis of the changes and their impact. Key GST Amendments in Budget 2025 1. Key Definition Changes Section Amendment Effective Date 2(61) ISD can distribute ITC on interstate supply, even
Union Budget 2025: Key Reforms and Implications for Taxation and Finance
💼 Union Budget 2025: Key Reforms and Implications for Taxation and Finance The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman on February 1, 2025, brings several significant changes and reforms aimed at driving economic growth, improving social welfare, and modernizing India’s financial landscape. As a finance and taxation expert, it’s important to understand
A Comprehensive Guide to the SME IPO Process: Unlocking Growth for Small and Medium Enterprises
For Small and Medium Enterprises (SMEs), going public through an Initial Public Offering (IPO) is a transformative step that can unlock significant growth opportunities. An SME IPO allows businesses to raise capital from the public, enhance their market credibility, and fuel expansion plans. However, the process is intricate and requires careful planning, adherence to regulatory
Cash Limits – How Much Cash Can You Keep & Carry?
🏠 How Much Cash Can You Keep at Home? There is no official limit on how much cash you can keep at home. However, if the Income Tax Department finds a large amount, you must be able to prove its legal source. If you can’t, the authorities may seize the money and impose penalties. So,
🚨 Income Tax Alert: Did You Receive an SMS on Section 80GGC Political Donations? Act Before It’s Too Late! ⚠️
The Income Tax Department of India has recently sent SMS alerts to taxpayers regarding their claims under Section 80GGC, which provides deductions for donations to political parties. This initiative aims to verify the legitimacy of such claims for the Assessment Years 2022-23, 2023-24, and 2024-25. Key Highlights of the Income Tax Alert 1. Purpose of
The New Income Tax Act 2025: Revolutionizing Taxation in India
🌟 Why is the Income Tax Act 2025 a Game-Changer? Compact and Simplified: पुराने कानून का साइज 300 से ज्यादा पन्नों का था, जबकि नया एक्ट सिर्फ 60 पन्नों में सिमट गया है। 👉 अब यह फॉर्मूला-बेस्ड होगा—आपको बस वैल्यू डालनी है और परिणाम मिलेगा। Easier Language: अब आम जनता भी इनकम टैक्स एक्ट को