Good news for online gaming enthusiasts and gaming operators. There will now be no TDS(Tax Deducted at Source) on your wins. And for game operators, you won’t have to do compliances for such winnings. Let’s read this news in detail for better clarity. Income Tax Department Clarifies TDS Rules for Online Gaming Platforms The Income … Read more
If you’ve been relying on diet coke or zero-calorie soda to manage your weight, there is unfortunate news. The World Health Organisation has recently released new guidelines cautioning against sweeteners such as aspartame and stevia. Contrary to popular belief, these sweeteners do not aid in weight loss and instead pose risks to health by increasing … Read more
There are times when you need to remit money abroad. Whether it be your child’s college fees abroad or a medical expense etc., With the use of various payment modes, you can make international transactions. However, there is a limit that is up to USD $2,50,000 per financial year for you in India for any … Read more
Advanced Analytics in Indirect Taxation (ADVAIT) data has revealed that 24 large importers have evaded ₹11,000 crore in Integrated Goods and Services Tax (IGST). ADVAIT is a data analytics tool that is used by the Indian government to track and monitor indirect taxes. The tool uses artificial intelligence and machine learning to identify patterns and … Read more
The Reserve Bank of India (RBI) made an important announcement on Friday. They have decided to remove the Rs 2000 currency note from circulation. However, it’s important to note that these notes will still be considered legal and valid. If you have any existing Rs 2000 notes, you can deposit or exchange them at banks … Read more
Have you ever had an issue with your bank that left you feeling unsatisfied with their response? It’s frustrating, to say the least. But don’t worry, you’re not powerless in this situation. Did you know that you can take your complaint to the Reserve Bank of India banking ombudsman? That’s right, the RBI has the … Read more
The Indian government is set to undertake a two-month crackdown on fraudulent practices related to the Goods and Services Tax (GST) starting May 16. The special drive aims to combat unscrupulous elements, including individuals, professionals, and firms who engage in the misuse of input tax credit by using fake identities and forged documents, all without … Read more
The President of the Indian Association of Tour Operators (IATO), Mr. Rajiv Mehra, has written a letter to the Prime Minister requesting for incentives to revive the tourism industry, which has been severely impacted by the pandemic. IATO Proposes Measures to Support Struggling Inbound Tourism Sector The IATO has proposed two solutions. These include: The … Read more
In April 2023, India’s gross GST revenues skyrocketed to a staggering ₹1,87,035 crore, marking a remarkable 12% increase from the highest tax tally recorded in the same month last year. This remarkable feat is a testament to India’s robust economic growth, fueled by various factors, including an increase in domestic consumption, a favorable global economic … Read more
GSTN has taken a step forward in the digitalization of business processes. It has now launched e-invoice registration services. It has been done as per the recommendation of the GST Council. E-Invoice Registration is launched in collaboration with various private IRPs. Four Private Companies Empaneled by GSTN for E-Invoice Registration Services GSTN has selected four … Read more