Concerns for Businesses: GST ITC Restriction on CSR Spend Introduction: Concerns for Businesses: GST ITC Restriction on CSR Spend highlights the crucial role of a robust VAT system in maintaining a seamless flow of Input Tax Credit (ITC). However, businesses face challenges in determining the eligibility of ITC, particularly regarding the Goods and Services Tax (GST) paid for fulfilling Corporate Social Responsibility (CSR) obligations. This article focuses on the debate surrounding whether CSR expenditure can […]

Sebi’s Master Circular for RTAs: Key Updates and Responsibilities The recent release of the master circular for registrars to an issue and share transfer agents (RTAs) by the Securities and Exchange Board of India (Sebi) signifies a significant step in regulating and overseeing the responsibilities and operations of RTAs. The circular, dated May 17, 2024, incorporates relevant guidelines and directives issued by Sebi from May 17, 2023, onwards, consolidating various aspects pertaining to registration, transfer-related […]

Is breaking up Big Tech really the magic bullet for startups? Microsoft unbundles Teams from Office Suite Microsoft’s decision to unbundle its video conferencing platform, Teams, from the Office suite comes after facing regulatory scrutiny over anti-competitive practices. While the bundling of apps has been under investigation by authorities, breaking up Big Tech may not be the ultimate solution for startups. Why did Microsoft remove Teams? In 2020, when the pandemic hit, Microsoft included Teams […]

Income Tax Return Checklist Tax season is approaching, and it’s crucial to be prepared to avoid the last-minute hassle and ensure that you’re correctly reporting tax benefits and claims while maintaining proper documentation. Here is a comprehensive ten-point checklist to help you prepare for a hassle-free tax compliance. ITR Form Selection Choosing the right Income Tax Return (ITR) form is essential for the Financial Year (FY) 23-24 to ensure hassle-free tax compliance. Here’s a summary […]

Claim Exemption on Capital Gains by Selling Jewellery for Buying a House Introduction: If you have recently sold jewellery, it is important to understand the tax implications. The Income Tax Act 1961 allows taxpayers to claim tax exemption on long-term capital gains (LTCG) by purchasing a residential property. In this article, we will explore the provisions and conditions for claiming this exemption and provide a comprehensive understanding of the process. Provisions for Claiming Tax Exemption: […]