01 Feb, 2025
Introduction The Union Budget 2025-26 has introduced significant tax reforms aimed at boosting economic growth while ensuring ease of compliance for individuals and businesses. The key focus areas include income tax relief, GST rationalization, and incentives for MSMEs. Let’s break down the major tax updates and their impact. Personal Income Tax Reforms The budget brings […]
Read More01 Feb, 2025
🔍 What’s Changing in the New Tax Regime? Budget 2025 introduces revised income tax slabs, offering better tax savings for individuals. The biggest highlight is that taxpayers earning up to ₹12 lakh will now pay zero tax, thanks to revised slabs and rebates. The new slabs under Section 115BAC(1A) are as follows: Total Income (₹ […]
Read More01 Feb, 2025
🔍 Why is the Government Introducing a GST Tracking System? The Indian government plans to amend the Central Goods and Services Tax (CGST) Act, 2017, through the Finance Bill 2025. This change will introduce a track-and-trace system to prevent tax evasion. Currently, many industries experience huge revenue losses due to tax fraud. Among the most […]
Read More01 Feb, 2025
Introduction The Madras High Court recently ruled that taxpayers who register under GST and pay tax only after an inspection cannot claim their compliance as voluntary. The case involved a charitable trust running a marriage hall without GST registration, eventually paying taxes post-inspection. The court held that such actions indicate deliberate tax evasion, making the […]
Read More31 Jan, 2025
CBDT Notification: A Step Towards Targeted Welfare On January 30, 2025, the Central Board of Direct Taxes (CBDT) issued Notification No. 12/2025, authorizing the Joint Secretary of the Department of Food and Public Distribution (DFPD) to access income-tax payer data. This move aims to streamline beneficiary identification for the Pradhan Mantri Garib Kalyan Anna Yojana […]
Read More31 Jan, 2025
Samsung Q4 2024 Financial Performance: A Closer Look Samsung Electronics reported a strong Q4 2024, demonstrating resilience despite global economic uncertainties. The company’s revenue and profitability saw notable improvements, primarily driven by semiconductors and AI-powered innovations. Key Financial Highlights: Despite macroeconomic fluctuations, Samsung has managed to sustain growth by capitalizing on premium chip demand and […]
Read More31 Jan, 2025
🚀 GST on Two-Wheelers: The Debate Heats Up India is the world’s largest two-wheeler market, yet affordability remains a challenge due to the high GST rate of 28% on bikes and scooters with engine capacities up to 350cc. For premium models exceeding 350cc, the total tax burden reaches 31%, including a 3% compensation cess. Leading […]
Read More31 Jan, 2025
🏠 The Push for GST Exemption on Affordable Housing The Indian real estate sector has long sought tax relief to make housing more accessible, especially for middle and lower-income groups. One of the biggest demands ahead of Budget 2025 is eliminating or reducing GST on affordable housing. Currently, the GST structure for under-construction properties is: […]
Read More31 Jan, 2025
Apple’s ‘Air’ Subscription: A Taxable Luxury or Just Thin Air? Apple has built an empire by turning everyday essentials into premium, must-have experiences. From high-end smartphones to exclusive services, the tech giant has a knack for monetizing convenience. The latest rumored innovation—Apple Air—a subscription-based breathing experience, has sparked both amusement and legal curiosity. While it […]
Read More30 Jan, 2025
Introduced in 2017, the Goods and Services Tax (GST) was envisioned as a transformative reform to unify India’s complex taxation system under the banner of ‘One Nation, One Tax.’ For India’s Micro, Small, and Medium Enterprises (MSMEs), GST has been a double-edged sword, presenting both opportunities and challenges. While the system has simplified tax processes […]
Read More