Praveen Choudhary

RBI Mandates Beneficiary Name Verification for RTGS and NEFT Transactions Starting April 2025 The Reserve Bank of India (RBI) has announced the implementation of a beneficiary name verification feature for Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems, effective April 1, 2025. Key Details: Beneficiary Name Verification: This feature will allow remitters […]

Income Tax Circular: Extension of Due Date under the Vivad Se Vishwas Scheme, 2024 The Government of India has announced an important update regarding the Direct Tax Vivad Se Vishwas Scheme, 2024. To facilitate taxpayers and ensure greater participation in the scheme, the due date for determining the amount payable under column (3) of the […]

Understanding GST TDS on Metal Scrap Introduction Goods and Services Tax (GST) has simplified taxation in India by bringing various indirect taxes under one umbrella. Among its provisions, the mechanism of Tax Deducted at Source (TDS) under GST ensures tax compliance. This applies to various goods and services, including the sale of metal scrap. What […]

Understanding Section 54 of the Income Tax Act: Tax Benefits on Capital Gains Section 54 of the Income Tax Act, 1961, provides a significant tax benefit to individuals and Hindu Undivided Families (HUFs) by allowing an exemption on long-term capital gains arising from the sale of a residential property, subject to certain conditions. Key Features […]

Filing income tax returns is a key responsibility. If you missed the deadline, you can still file a belated return. Here’s what you need to know. Missed the Deadline? Here’s How to File a Belated Income Tax Return What is a Belated Income Tax Return? A belated return is filed after the original due date. […]

The government of India launched the Startup India initiative in 2016 with an ambition to build a strong ecosystem for innovation and entrepreneurship in the nation. After registering with the Startup India Platform, one can avail of benefits and incentives. Several advantages like access to funding opportunities, tax exemptions, easy compliance, and a team of […]

Demystifying GSTR-9 & GSTR-9C: Navigating the Complexities of GST Compliance Introduction: In the realm of Goods and Services Tax (GST) compliance in India, the annual return forms GSTR-9 and the audit report GSTR-9C stand out as crucial documents that demand the attention and precision of businesses. As the financial year concludes, enterprises find themselves grappling […]

Extended Producer Responsibility (EPR) EPR means the responsibility of a producer for the environmentally sound management of the product until the end of its life. As per the latest regulations set by the Ministry of Environment, Forest and Climate Change (The Ministry), it is now mandatory for all business organizations to obtain a license for […]