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Source: Live Mint Until last year, the hospitality and rental sectors benefitted from a broad tax exemption on renting residential dwellings. However, with effect from 15 July 2024, a separate conditional exemption was carved out for accommodation services, relieving these from the levy of goods and services tax, or GST. This change—applicable to accommodation services…
Source: Live Mint Budget 2025 has moved in a path that at once caters to the immediate requirements of the economy, while continuing on the path to investing for future growth, even while ensuring a tight leash on the fiscal deficit. Tax slab rationalisation to boost consumption, ease of taxation via higher thresholds for tax…
Source: Live Mint Budget 2025: Shares of Zomato and Swiggy increased by 9-10% following Finance Minister Nirmala Sitharaman’s declaration of an income tax exemption for individuals with an annual income of up to ₹12 lakh in the Union Budget 2025. Experts think this initiative may stimulate spending in light of indications of waning urban demand….
Source: Live Mint The Union Budget 2025 is just around the corner, and taxpayers are keeping a close watch. Over the years, the middle class has shouldered a big part of the tax burden, with individual tax collections doubling from ₹4.8 lakh crore in FY21 to ₹10.4 lakh crore in FY24. This year, many are…
Source: Live Mint This trend has been driven by changes in tax residency conditions and a heightened focus on global transparency. NRIs are now more diligent in reporting their Indian-sourced income and claiming tax reliefs under the act and the Double Taxation Avoidance Agreement (DTAA). When NRIs become residents, they need to make disclosure of…
Source: Business Standard 5 min read Last Updated : Oct 16 2024 | 2:55 PM IST Click here to connect with us on WhatsApp The clarification addresses issues such as the eligibility of taxpayers who have paid their liabilities before the enactment of Section 128A, the treatment of amounts recovered by tax…
