The Central Board of Direct Taxes (CBDT) continues to shape India’s tax landscape, bringing more clarity to tax processes with the latest changes to the Income-tax (Eighth Amendment) Rules, 2024. In their Notification No. 112/2024, issued on October 15, 2024, significant modifications have been introduced to streamline tax deductions at source (TDS) and tax collection at source (TCS). These changes
Introduction In a significant development, the GST Network (GSTN) has issued an advisory regarding biometric Aadhaar authentication for GST applicants in Kerala, Nagaland, and Telangana. This advisory aims to streamline the GST registration process and enhance compliance among taxpayers. Key Changes to GST Registration Process The amended Rule 8 of the CGST Rules, 2017 allows for a more efficient
How Section 194F Impacts Mutual Fund Investment Process in India Mutual funds are one of the most popular investment vehicles in India, providing opportunities for higher returns with professional management. However, like other investment options, mutual funds are subject to specific tax regulations that can influence investor returns. One such regulation is Section 194F of the Income Tax Act, which
The Union Budget 2024 brought several changes that will affect the Tax Deducted at Source (TDS) rates starting from October 1, 2024. These modifications are designed to simplify taxation and provide relief in certain transactions. Let’s explore the revised TDS rates and understand how these changes impact taxpayers. What is TDS? Tax Deducted at Source (TDS) is a
