Amendment of section 44B In section 44B of the Income-tax Act, with effect from the 1st day of April, 2025,— (a) for the marginal heading, the following marginal heading shall be substituted, namely:— “Special provision for computing profits and gains of shipping business other than cruise shipping in case of non-residents.”; (b) […]
As companies seek to maximize their profits and improve their operations, using the e-procurement process can be a convenient and lucrative option. Buying and selling goods online allows companies to reach a more diverse audience and enhance the speed of transactions. What is e-procurement? E-procurement, or electronic procurement, is a digital transaction process that involves
Amendment of section 43D In section 43D of the Income-tax Act, with effect from the 1st day of April, 2025,— (i) in the marginal heading, the words “public companies,” shall be omitted; (ii) clause (b) shall be omitted; (iii) in the long line, the words “or the public company” shall be omitted;
Amendment of section 40 In section 40 of the Income-tax Act, in clause (b), in sub-clause (v), in item (a), with effect from the 1st day of April, 2025,— (a) for the letters and figures “Rs. 3,00,000”, the letters and figures “Rs. 6,00,000” shall be substituted; (b) for the letters and figures “Rs.
Amendment of section 37 In section 37 of the Income-tax Act, in sub-section (1), in Explanation 3, in clause (iii), for the words “outside India.”, the following shall be substituted with effect from the 1st day of April, 2025, namely:— “outside India; or (iv) to settle proceedings initiated in relation to contravention under such law as
Amendment of section 36 In section 36 of the Income-tax Act, in sub-section (1), in clause (iva), for the words “ten per cent”, the words “fourteen per cent” shall be substituted with effect from the 1st day of April, 2025.
Amendment of section 28 In section 28 of the Income-tax Act, after Explanation 2, the following Explanation shall be inserted with effect from the 1st day of April, 2025, namely:— ‘Explanation 3.— It is hereby clarified that any income from letting out of a residential house or a part of the house by the owner shall not be
Section 44AB of the Income-tax Act, 1961, states the regulations for the tax audit of a firm or entity. The tax audit ensures that the taxpayer has provided complete and accurate information regarding his income, deductions, and taxes. This is to be conducted by a Chartered Accountant. The entity has to maintain proper books of
The Government of India affirmed the testimonials of the Commission directed to some alterations. These recommendations by the committee regarding the Payment of Bonus Act Ordinance, 1965 was proclaimed on 29th May 1965 and to restore the said Ordinance the Payment of Bonus Bill was presented in the Parliament. The Payment of Bonus Bill was relinquished by both
PM Vishwakarma is a Central Sector Scheme launched by Ministry of Micro, Small and Medium Enterprises to provide holistic and end-to-end support to artisans and craftspeople through access to collateral free credit, skill training, modern tools, incentive for digital transactions and market linkage support. The scheme will initially be implemented for five years up to
CA Bhuvnesh Kumar Goyal
Chartered Accountants
cabkgoyal@gmail.com
9971782649
Ph: 9971782649
E: cabkgoyal@gmail.com
