ThinkBiz Filings

01 Apr 25

TDS on Horse Race Winnings: New Rules From April 2025

TDS on Horse Race Winnings: New Rules from April 2025 The Indian government has introduced new rules for Tax Deducted at Source (TDS) on horse race winnings, effective from April 1, 2025. These amendments are aimed at improving tax compliance and ensuring fair taxation in the betting industry. Key Highlights…

28 Mar 25

E-Invoices Must Be Reported Within 30 Days: New GST Compliance Rule

E-Invoices Must Be Reported Within 30 Days: New GST Compliance Rule In a significant update for businesses, the government has mandated that all e-invoices must be reported on the Invoice Registration Portal (IRP) within 30 days from the date of invoice generation. This rule applies to taxpayers with an aggregate…

28 Mar 25

Clarifications on GST Rates and TDS Provisions for Specific Goods, Services, and Partner

Key Tax Updates: GST Clarifications & Income Tax Amendments The government has issued two important updates affecting GST rates and Income Tax compliance. 1. GST Clarifications – Circular No. 247/04/2025-GST (Dated 14th February 2025) Based on the decisions of the 55th GST Council meeting, this circular provides clarity on GST…

27 Mar 25

Eligibility to be a Member of a One Person Company (OPC) in India

Eligibility to be a Member of a One Person Company (OPC) in India A One Person Company (OPC) is a unique business structure in India that allows a single entrepreneur to operate a company with limited liability. However, not everyone can become a member of an OPC. Who is Eligible…

27 Mar 25

MCA Update: Maximum Directors in Form AGILE PRO S Limited to 5

MCA Update: Maximum Directors in Form AGILE PRO S Limited to 5 The Ministry of Corporate Affairs (MCA) has issued an update regarding the AGILE PRO S form, which is filed as part of the SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) process. This change affects businesses applying for…

27 Mar 25

Half-Yearly Return Mandated for Delayed Payments to MSMEs

Half-Yearly Return Mandated for Delayed Payments to MSMEs The Ministry of Micro, Small and Medium Enterprises (MSME), through a notification dated 25th March 2025, has introduced a new compliance requirement for businesses dealing with Micro and Small Enterprises (MSEs). Companies procuring goods or services from MSEs must now submit a…

26 Mar 25

Income Tax Offices to Remain Open on 29th, 30th & 31st March 2025

Income Tax Offices to Remain Open on 29th, 30th & 31st March 2025 To ensure the smooth completion of pending departmental work for FY 2024-25, the Central Board of Direct Taxes (CBDT) has directed that all Income Tax Offices across India will remain open on 29th (Saturday), 30th (Sunday), and…

26 Mar 25

Key Clarifications on Finance Bill 2025 – Supplementary FAQs Released

Overview The government has released supplementary FAQs addressing key aspects of the Finance Bill 2025, offering much-needed clarity on various tax and compliance measures. Key Highlights Category Clarifications Tax Rates No changes in corporate or individual tax rates. GST Compliance Stricter reporting requirements for certain industries. TDS/TCS Rules Revised timelines…

26 Mar 25

CBDT Expands Safe Harbour Rules Under Income-Tax Rules, 1962

Overview The Central Board of Direct Taxes (CBDT) has expanded the Safe Harbour Rules (SHR) under the Income-tax Rules, 1962, providing greater tax certainty to businesses engaged in international transactions. Key Highlights Wider Coverage: More categories of transactions are now covered under SHR. Lower Compliance Burden: Reduces transfer pricing disputes…

25 Mar 25

GST Amnesty Scheme: Save on Penalties Before 31st March 2025

GST Amnesty Scheme was introduced by CBIC to help non-filers by offering a one-time waiver of late fees, encouraging voluntary return filing. GST Amnesty Scheme offers significant relief to taxpayers those who are facing show cause notices (SCNs) adjudicating orders, and appeal orders for FY 2017-18, 2018-19, and 2019-20. Key Takeaways…

For Indian Entrepreneur

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For Indian Entrepreneur

For Foreign Entrepreneur

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Return Filings

Annual Filings

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Closure

Special Compliances

Accounting & Payroll

Special

Trademark

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Patent

TDS on Horse Race Winnings: New Rules From April 2025

E-Invoices Must Be Reported Within 30 Days: New GST Compliance Rule

Clarifications on GST Rates and TDS Provisions for Specific Goods, Services, and Partner

Eligibility to be a Member of a One Person Company (OPC) in India

MCA Update: Maximum Directors in Form AGILE PRO S Limited to 5

Half-Yearly Return Mandated for Delayed Payments to MSMEs

Income Tax Offices to Remain Open on 29th, 30th & 31st March 2025

Key Clarifications on Finance Bill 2025 – Supplementary FAQs Released

CBDT Expands Safe Harbour Rules Under Income-Tax Rules, 1962

GST Amnesty Scheme: Save on Penalties Before 31st March 2025

Business Registration

Registration

Licenses

Accounting & Tax

For Indian Entrepreneur

For Foreign Entrepreneur

Special Entity

For Indian Entrepreneur

For Foreign Entrepreneur

Special Entity

Return Filings

Annual Filings

Change Services

Closure

Special Compliances

Accounting & Payroll

Special

Trademark

Copy Right

Patent

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