The Income Tax Bill 2025, introduced in Parliament, proposes significant changes to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) provisions. These changes aim to simplify the tax deduction and collection process, ensuring better compliance for individuals, businesses, and tax professionals. Understanding TDS & TCS Tax Deducted at Source (TDS) TDS is a mechanism […]
The “Purchase/Construction of House for the Construction Workers” by the Delhi Building and Other Construction Workers Welfare Board, Labour Department, Delhi, is a welfare scheme for the registered workers of the board. Through this scheme, an advance amount of ₹3,00,000/- to ₹5,00,000/- is provided to the registered workers for purchasing or construction of houses. The
A syndicate is an organized group of just about anything – corporations, other entities, or even individuals. The group is organized independently by the entities that form it. A syndicate’s primary notable quality is that the groups within it work together to conduct some type of business in order to pursue and promote their collective interests.
The Dena Shakti Scheme was a loan scheme introduced by Dena Bank (now merged with Bank of Baroda) to support women entrepreneurs in India. The scheme aimed to provide financial assistance to women engaged in various business activities at concessional interest rates. Sectors Covered Under this Scheme Agriculture and allied activities Small Enterprises (Direct and
“The word ‘Charity’ connotes altruism in thought and action. It involves an idea of benefiting others rather than oneself” Supreme Court in the case Andhra Chamber of Commerce [1965] 55 ITR 722 (SC). Charity is a selfless voluntary help either in money or kind to the needy. Hence, there are various Non-Governmental Organizations (NGOs) and
The TDS deduction on the payment of commission or brokerage is covered by Section 194H. When the amount surpasses Rs.15,000 in a year, it requires that the person (other than an individual or HUF) in charge of paying commission or brokerage to residents deduct taxes at the rate of 5%. All individuals and HUFs who need
The Ministry of Corporate Affairs (MCA) has announced a new format of statutory audits of companies. The MCA has notified Companies (Auditor’s Report) Order, 2020 (CARO 2020) on 25 February 2020. The auditor’s report of specified companies should include a statement on certain prescribed matters as provided under the Companies Act, 2013. These requirements with
The Blue Ocean Strategy and Red Ocean Strategy are two different approaches to business competition and market positioning. Strategies are essential for succeeding in the business world. Companies navigate the competitive seas with the help of two essential approaches: the Red Ocean and Blue Ocean strategies. The Red Ocean strategy emphasizes competition and gradual improvements while taking
Project Lion: The central government has given the green signal to ‘Project Lion’, a comprehensive initiative aimed at the conservation and expansion of the Asiatic lion population in India. With this project, the government aims to take a proactive approach to secure the future of Asiatic lions. Prime Minister Narendra Modi-led Union Government has approved
Jan Shikshan Sansthan (JSS) is a skill development scheme under the Ministry of Skill Development and Entrepreneurship (MSDE), Government of India. It aims to provide vocational training to non-literate, neo-literate, school dropouts, and marginalized sections of society to improve their employability and livelihood opportunities. Scheme Outline JSS refers to an institute that conducts skill upgradation
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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