Section 194T : TDS on Payment by Partnership Firm to Partners Section 194T is a newly introduced TDS provision under the Income-tax Act, 1961, aimed at bringing payments by firms to partners within the TDS framework. It covers various types of payments to partners like Interest ,salary, remuneration,bonus and commission. This provision aims to ensure...
The Goods and Services Tax (GST), introduced on 1st July 2017, is India’s most significant indirect tax reform since Independence. Over eight years, GST has steadily evolved through rate rationalisation and digitalization, becoming the backbone of India’s indirect tax framework. The 56th meeting of the GST Council, chaired by Union Finance Minister Smt. Nirmala Sitharaman...
The Income-tax Act, 2025 has received the Hon’ble President’s assent on 21st Aug 2025 and it has been officially notified in the Gazatte on 22nd August, 2025. What is The Income Tax Act 2025 ? The Income Tax Act 2025 is a landmark reform replacing the six decades old Income Tax Act, 1961. The...
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