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@taxationplanning
Tax Calendar 2025: GST Due Date Calendar For May 2025
Tax Calendar 2025: GST Due Date Calendar For May 2025 As part of Tax Calendar 2025, we are providing GST due date calendar for May 2025 for the ease of compliance. The due dates are as under: 10 May 2025 Due date for filing GSTR-7 for the month of April, 2025. Form GSTR-7 is required to be filed by the persons who deduct tax at the time of making/ crediting payment to suppliers towards the…
Tax Calendar 2025: Income Tax Due Date Calendar For May 2025
Tax Calendar 2025: Income Tax Due Date Calendar For May 2025 As part of Tax Calendar 2025, we are providing income tax due dates calendar for May 2025 for the ease of compliance. The due dates are as under: 7 May 2025 ​Due date for deposit of Tax deducted/collected for the month of April, 2025. However, all sum deducted/collected by an office of the government shall be paid to the credit of…
GST Update On Reporting Of HSN Codes And List Of Documents In GSTR-1/ 1A
GST Update On Reporting Of HSN Codes And List Of Documents In GSTR-1/ 1A There is new GST update that GSTN has issued advisory on reporting of HSN codes in Table-12 and list of documents in Table-13 of GSTR-1/ 1A. The GSTN has said in the advisory that vide Notification No. 78/2020 – Central Tax dated 15th October 2020, it is mandatory for the taxpayers to report minimum 4 digits or 6 digits of…
ITR Filing 2024-25: Major Change In ITR-1 And ITR-4 For Assessment Year 2025-26
ITR Filing 2024-25: Major Change In ITR-1 For Assessment Year 2025-26 ITR Filing 2024-25: The CBDT has notified ITR forms ITR-1 (Sahaj) and ITR-4 (Sugam) for the Assessment Year 2025-26 (Financial Year 2024-25). ITR can be filed using the new form for income earned during the financial year from April 1, 2024 to March 31, 2025. ITR-1 is known as Sahaj and ITR-4 as Sugam. A major change in the…
KYC: Meeting On Revamp Of Central KYC And KYC Related Issues
KYC: Meeting On Revamp Of Central KYC And KYC Related Issues Shri. M. Nagaraju, Secretary, Department of Financial Services (DFS) chaired a meeting today at Manthan, DFS to discuss the revamp of the Central KYC Records Registry (CKYCR) and key issues related to Know Your Customer (KYC) compliance with the objective of making life of citizen comfortable while availing Financial Services. The…
Cyber Crime: Fake Calls And SMS Scams
Cyber Crime: Fake Calls And SMS Scams Matters relating to Cyber Crime are under the Ministry of Home Affairs (MHA) as per allocation of the business rules. Department of Telecommunications (DoT) undertakes efforts to prevent misuse of telecom resources for cyber frauds. Further, ‘Police’ and ‘Public Order’ are State subjects as per the Seventh Schedule of the Constitution of India. MHA has…
Startup Mahakumbh: Second Edition Of Startup Mahakumbh Is Set To Commence
Startup Mahakumbh: Second Edition Of Startup Mahakumbh Is Set To Commence The Second Edition of Startup Mahakumbh, presented by Government e Marketplace (GeM), is set to commence from April 3rd to 5th, 2025, at Bharat Mandapam, New Delhi. End-to-end onboarding assistance will be provided to all Startups so that they are ready to start selling on GeM. The GeM Pavilion will serve as an open…
Banking Regulation Act, 1949 Amended To Provide Additional Powers To RBI
Banking Regulation Act, 1949 Amended To Provide Additional Powers To RBI The Banking Regulation Act, 1949 has been amended to provide additional powers to RBI for more effective regulation of Co-operative banks vide Banking Regulation (Amendment) Act, 2020. The major amendments pertain to areas such as management, audit, capital, reconstruction/ amalgamation, etc. The provisions of the Act have…
New Rules: 10 Big Rules To Change From April 1, 2025
New Rules: 10 Big Rules To Change From April 1, 2025 New Rules from April 1, 2025: Many rules are going to change with the beginning of the new financial year 2025-26, which can directly affect your pocket. From April 1, 2025, changes will be implemented in many sectors like banking, GST, income tax and digital payment, which will affect the pocket of every common citizen and business…
Income Tax Notice: Juice Seller Receives Income Tax Notice Of Rs 7.79 Crore
Income Tax Notice: Juice Seller Receives Income Tax Notice Of Rs 7.79 Crore The Income Tax Department has served an income tax notice of Rs 7.79 crore to Mohammad Raees, a juice seller in Aligarh, while the daily income of Raees is said to be only around Rs 500. The Income Tax Department’s notice states that the account has been traced due to high value transactions and bill purchases. Raees…
Finance Bill 2025 Passed By Lok Sabha
Finance Bill 2025 Passed By Lok Sabha Finance Bill 2025 has been passed by the Lok Sabha, Finance Minister Nirmala Sitharaman had mentioned this during the budget itself. After being passed by the Lok Sabha, 6% duty (commonly known as ‘Google Tax) will not be levied on online advertising services provided by foreign technology companies like Google and Meta. The Finance Bill is now to be…
Google Tax: No More Google Tax In India From April 1, 2025
Google Tax: No More Google Tax In India From April 1, 2025 Amid trade talks and tariff tensions with the US, the Indian government has taken a big step. India is going to remove 6% duty, commonly known as ‘Google Tax’, on online advertising services provided by foreign technology companies like Google and Meta from April 1. According to a Reuters report, this decision is part of the amendment to…
GST Amnesty: Facing Difficulties In Filing SPL-01/ SPL-02? Read This GSTN Advisory!
GST Amnesty: Facing Difficulties In Filing SPL-01/ SPL-02? Read This GSTN Advisory! (1.) While filing waiver applications under GST Amnesty Scheme, taxpayers faced following issues on GST portal and raised grievances on GST helpdesk: (i.) Order number is not available in dropdown for selection in SPL 02. (ii.) Order details are not getting auto populated after selection of a particular order…
Toll Tax: Nitin Gadkari Gives Good News On Toll Tax
Toll Tax: Nitin Gadkari Gives Good News On Toll Tax Union Road Transport and Highways Minister Nitin Gadkari has given good news regarding toll tax. He said in Rajya Sabha on Wednesday that the government will bring a new policy regarding toll tax. People will get some relief in this. He also said that the government is spending a lot of money in building roads. Therefore, it is necessary to…
Volkswagen: Will Volkswagen Be Able To Avoid Tax Of Rs 11,600 Crore In India?
Volkswagen: Will Volkswagen Be Able To Avoid Tax Of Rs 11,600 Crore In India? German carmaker Volkswagen is fighting a tax notice of Rs 11,600 crore in Indian courts. The company says the case is a matter of life and death for the automaker. The Indian government told the Bombay High Court that agreeing to Volkswagen’s demand to cancel a tax notice of $1.4 billion, or about Rs 11,600 crore,…
Tax Arrears: Difficult To Recover Tax Arrears Worth 29 Lakh Crore: Income Tax Department
Tax Arrears: Difficult To Recover Tax Arrears Worth 29 Lakh Crore: Income Tax Department Tax Arrears: The Income Tax Department is facing difficulty in collecting taxes. The Finance Committee of Parliament has expressed concern about this. They asked how this problem can be solved. Can there be a ban on paying taxes for some time? The Finance Committee’s report has been presented in the…
Job News: Great Opportunity To Get Job In Income Tax Department
Job News: Great Opportunity To Get Job In Income Tax Department There is a great job news for candidates who wish to work in the Income Tax Department. The Income Tax Department, Kerala Region has released recruitment for the posts of Stenographer Grade I. If you also have the qualifications related to these posts, then you can apply by visiting the official website of Income Tax Department.…