The 55th GST Council meeting, held on December 21, 2024, in Jaisalmer, Rajasthan, has introduced major tax changes for India’s hospitality sector. The revised GST rates and compliance norms, effective from April 1, 2025, are aimed at simplifying tax structures, improving transparency, and boosting competitiveness for hotels and restaurants. Key Highlights Council Meeting Overview Chaired […]
The Foreign Exchange Management Act (FEMA), enacted on December 29, 1999, is the backbone of India’s foreign currency regulation. Replacing the outdated Foreign Exchange Regulation Act (FERA), FEMA was designed to modernise India’s approach to external trade and payments, aligning it with the country’s liberalised economy and global trade practices. A FEMA licence is mandatory
Understanding Tax Deducted at Source (TDS) on interest from securities is crucial for both individuals and businesses in India. Covered under Section 193 of the Income Tax Act, the provision mandates that anyone paying interest on securities to a resident must deduct tax at the source. From rules and exemptions to compliance requirements, Section 193
Tax Deducted at Source (TDS) plays a crucial role in India’s tax collection system, ensuring taxes are deducted at the time salaries are paid. Under Section 192 of the Income Tax Act, employers are required to deduct TDS from salaries if an employee’s projected annual income exceeds the prescribed exemption limits. This mechanism helps in
Health insurance is no longer a luxury—it’s a necessity. With rising medical costs and increasing lifestyle-related illnesses, a single hospital visit can disrupt your financial stability. Whether you’re a salaried employee, a business owner, or a retiree, understanding how health insurance works—and choosing the right plan—can save you from massive out-of-pocket expenses. This guide breaks
