Introduction With the growing emphasis on transparency and accountability in the charitable sector, Form 10BD plays a crucial role in ensuring donors can claim the correct tax benefits under Sections 80G and 35 of the Income Tax Act. For Financial Year 2024-25, all NGOs and institutions receiving donations must gear up for timely Form 10BD…
Every Limited Liability Partnership (LLP) in India must meet annual and statutory compliance requirements as mandated by the Ministry of Corporate Affairs (MCA) and the Income Tax Department. This blog provides a comprehensive LLP compliance checklist 2025, covering key filing dates, penalties, and the latest amendments applicable for FY 2025-26. Key Annual Compliances for LLPs…
The Income Tax Department has issued Notification No. 36/2025 on 22nd April 2025, introducing important changes regarding Tax Collection at Source (TCS) on the purchase of certain high-value luxury goods. These changes are effective immediately from the date of publication in the Official Gazette. Let’s understand what the notification says and its implications for buyers…