We are excited to announce that Swanirmit Technologies will be participating in the AMExpo, taking place on January 8, 9, 10, and 11, 2026. This is a premier event dedicated to showcasing innovative technologies and solutions within the industry. Our stall, number G7, will feature cutting-edge products and services that reflect our commitment to excellence and innovation.
What to Expect at Our Stall G7
At Stall G7, attendees can look forward to engaging demonstrations of easy smart shop software product, informative presentations, and the opportunity to meet our expert team. We invite you to explore our latest technological advancements and see firsthand how they can benefit your business. Our knowledgeable staff will be available to answer your questions and provide insights tailored to your needs.
To make the most of your experience at AMExpo 2026, be sure to register ahead of time. Clicking on the link below will allow you to secure your spot and receive all necessary event information. Join us at Stall No. G7 and discover the transformative potential of SwaNirmit Technologies.
🚀 Java Angular Fullstack Developer Internship Now Open!
Are you a passionate student eager to dive into the world of fullstack development? We’ve got exciting news for you! Our Java Angular Fullstack Developer Internship program is officially open, starting 1st January 2026.
💡 Why This Internship?
This is more than just an internship — it’s a launchpad for your career in modern web development. You’ll gain hands-on experience building scalable backend systems with Java and crafting dynamic, responsive user interfaces using Angular.
👩💻 Who Should Apply?
Students pursuing Computer Science, IT, or related fields
Those with a basic understanding of Java, HTML/CSS, and JavaScript
Eager learners who want to work on real-world projects and collaborate with experienced mentors
📚 What You’ll Learn
Fullstack architecture and integration
RESTful APIs and backend logic with Java
Angular components, routing, and state management
Version control with Visual SVN and collaborative workflows
📅 Internship Start Date: 1st Jan 2026
Spots are limited, and the opportunity is priceless. Whether you’re looking to build your portfolio, sharpen your skills, or explore fullstack development, this internship is your gateway.
Contact Us :
Send Your Updated Resume to : hradmin@swanirmit.com
Join Our Team as an Angular Front-End Developer Intern!
Are you ready to dive into the world of web development? We are thrilled to announce an internship opening for aspiring Angular Front-End Developers! This is an unmissable opportunity for anyone looking to hone their skills and gain practical experience in a dynamic tech environment.
What We Look For in Candidates
We’re searching for enthusiastic individuals who have a passion for front-end technologies, particularly Angular. Ideal candidates should have a foundational understanding of JavaScript, HTML, and CSS. If you’re eager to learn, collaborate, and grow, we want to hear from you!
Why Intern with Us?
Interning with our team provides a unique platform to work on real-world projects, receive hands-on mentorship from industry experts, and enhance your Angular skills. You’ll get the chance to engage in meaningful work while developing your professional network. Plus, it’s a perfect stepping stone for future career opportunities in tech!
Don’t miss this chance to advance your career as an Angular Front-End Developer. Apply now to join our team, and get ready to embark on an exciting journey!
Contact Us
Send Your Updated Resume to : hradmin@swanirmit.com
Are you a student eager to kickstart your career in technology? We are thrilled to announce our Java backend internship opening! This is a fantastic opportunity for individuals who are passionate about coding and eager to learn in a professional environment.
What You’ll Experience
As a Java backend intern, you will dive into real-world projects, gaining hands-on experience in software development. You’ll be integrating with our talented development team, working on backend functionalities in Java, and contributing to the creation of scalable applications. We believe in fostering talent, and you will have the chance to learn best practices and techniques from experienced developers.
Who We’re Looking For
We are looking for students who have a strong foundation in Java programming and a keen interest in backend development. If you are motivated, detail-oriented, and eager to learn, this internship could be the perfect fit for you! Being a team player will be crucial as you collaborate with others to bring innovative solutions to life.
Don’t miss out on this incredible chance to enhance your skills and gain valuable experience within 8 months. Apply now and take your first step towards a promising career in tech!
Contact Us
Send Your Updated Resume to : hradmin@swanirmit.com
दिवाळी हा भारतातील एक महत्त्वाचा सण आहे, जो प्रत्येक वर्षी कार्तिक महिन्यात साजरा केला जातो. याला ‘दीपावली’ असेही म्हणतात आणि हा सण भारताच्या विविध भागांत विविध पद्धतींनी साजरा केला जातो. दिवाळीच्या उत्सवाचे मुख्य कारण म्हणजे अंधारातून प्रकाशाकडे, चांगुलपणाकडे व प्रकाशाच्या विजयाकडे नेणे, हेच आहे. या दिवशी पुराणानुसार Lord रामचंद्रांनी रावणावर विजय मिळवून अयोध्येत परतले होते. त्यामुळे दिवाळीचा सण श्रीरामाच्या स्वागतासाठी साजरा केला जातो.
दिवाळीच्या सणात विविध धार्मिक व सांस्कृतिक गोष्टींचा समावेश असतो. सणाच्या तयारीच्या काळात लोक आपले घरे स्वच्छ आणि सुशोभित करतात, विशेषतः घराच्या प्रवेशद्वाराजवळ दीप किंवा कंदील लावले जातात. या दिवशी लक्ष्मी पूजेची विशेष महत्त्व आहे, कारण देवी लक्ष्मीची पूजा करून लोक धन, समृद्धी आणि खुशालीची प्रार्थना करतात. पूजा संपल्यानंतर, लोक एकत्र येऊन गोड पदार्थांचे आदानप्रदान करतात, ज्यामुळे एकत्रतेची भावना प्रकट होते.
फटाक्यांचा उपयोग दिवाळीत मोठ्या उत्साहात केला जातो, जो अंधारात प्रकाश करतो आणि आनंद व्यक्त करतो. यामध्ये फटाके फोडण्याच्या पारंपरिक पद्धतींपेक्षा देखील, सुरक्षा आणि पर्यावरणाची काळजी घेणे आवश्यक आहे. कारण, फटाक्यांच्या धुरामुळे आणि आवाजाने काही घटकांवर नकारात्मक परिणाम होऊ शकतात. दिवाळीच्या उत्सवाच्या वेळी सर्वांनी एकत्र येऊन साजरा करणे, एकमेकांच्या आनंदात सहभागी होणे व अंधारातून प्रकाशाकडे पाहणे हे अत्यंत महत्त्वाचे आहे.
दिवाळीचे महत्त्व
दिवाळी, भारतीय उपखंडातील एक महत्त्वाचा सण, केवळ धार्मिक दृष्ट्या महत्वाचा नाही, तर सामाजिक दृष्ट्या देखील अत्यंत महत्त्वाचा आहे. हा सण प्रकाशाचा, आनंदाचा, आणि एकत्र येण्याचा प्रतिनिधित्व करतो. दिवाळीच्या उत्सवाद्वारे, विविध तीर्थयात्रा, पूजा आणि कार्यक्रमांचे आयोजन करण्यात येते, ज्यामुळे लोक आनंदाने एकत्र येतात आणि आपले संबंध दृढ करतात.
दिवाळीच्या सणाचे सामाजिक महत्त्व मुख्यतः विविध जाती, धर्म आणि संस्कृतींची एकत्रीकरण करण्याच्या क्षमतेवर आहे. या सणात, हिंदू, मुस्लिम, सिख, बौद्ध आणि इतर समाजांचे लोक एकत्र येऊन उत्सव साजरा करतात. हे विविधतेत एकता दर्शवते आणि समाजात सहिष्णुता आणि स्नेहाचा संचार करते. यामुळे, नातेसंबंधांची मजबुती आणि जागतिक एकतेचा संकल्पना साकार होते.
सणाच्या निमित्ताने, लोक आपल्या घरांचे साजशृंगार करतात, वर्तुळाकार महाराज्यांवर आणि मंदिरांवर दिवे लावतात, जे त्याच्या धार्मिक महत्त्वाबरोबरच, सामाजिक साठी देखील महत्त्वाचे आहे. दिवाळीच्या दिवशी, अनेक ठिकाणी भव्य मेळावे, जल्लोष व क्रीडा स्पर्धांचे आयोजन केले जाते, ज्यामुळे लोक एकत्र येऊन आनंद साजरा करू शकतात. शारिरीक आणि मानसिक आध्यात्मिकता वाढविण्यासाठी, यामुळे एक सुखद अनुभव प्राप्त होतो.
दिवाळीचा सण फक्त एक धार्मिक अनुष्ठान नाही, तर तो आपल्या जीवनात सकारात्मकता, आनंद आणि एकतेचा संपूर्ण अनुभव प्रदान करतो. त्यामुळे हे समजून घेणे अत्यंत आवश्यक आहे की दिवाळीच्या उपक्रमात भाग घेणे आणि त्याला अधिक गती देणे प्रत्येकासाठी फायद्याचे असते.
दिवाळीच्या परंपरा आणि सण
दिवाळीचा सण भारतीय संस्कृतीतील एक महत्वाचा पर्व आहे, जो अंधारातून प्रकाशाकडे जाण्याचा संदेश देतो. या सणात विविध परंपरा आणि रितीरिवाजांचे पालन केले जाते, जे विविध समाजाच्या पहिल्या परंपरेशी जोडलेले आहेत. दिवाळीच्या सणासाठी घरे स्वच्छ करणे हे एक मुख्य कार्य असते. या काळात नेहमीपेक्षा अधिक लक्ष देऊन घराची व्यवस्था करण्यात येते, ज्यामुळे घरात सकारात्मक ऊर्जा आणि ताजगी येते.
दिवाळीत रंगरंगोटी देखील महत्त्वाची असते. लोक घराच्या भिंतींना नवीन रंगांनी रंगवतात आणि सजवतात. रंग-बिरंगी Lanterns लावणे हे दृश्यात एक विशेष रंग भरते, जे सर्वत्र आनंद आणि उत्साहाचे वातावरण निर्माण करते. पूजेच्या तयारीसाठी विविध धार्मिक सामग्री एकत्र केली जाते आणि घरातील विविध ठिकाणी मांडली जाते, ज्यामुळे सणाच्या म्हणा आवश्यकतेचा आदर केला जातो.
दिवाळीच्या दारात मिठाई मांडणे हा एक आनंददायक रिवाज आहे. या विशेष दिवशी अनेक प्रकारच्या गोड पदार्थांचा आनंद घेतला जातो, जे आपल्या प्रिय जनांसोबत शेअर केले जातात. काही ठिकाणी फटाक्यांची उडवणूक हा उत्सवाचा एक भाग आहे, तर काही ठिकाणी भव्य उधळले जाणारे फटाके शांततेचा सण म्हणून मानले जातात. यामुळे दिवाळीचा सण प्रत्येक ठिकाणी वेगळ्या प्रकारे साजरा केला जातो, परंतु एकत्रितपणे सगळीकडे आनंद आणि प्रकाशाचे प्रतीक आहे.
दिवाळीच्या शुभेच्छा देणे आणि काही खास वाण्या
दिवाळी, ज्याला ‘दीपावली’ असेही म्हणतात, हा प्रकाश आणि आनंदाचा सण आहे. या सणाच्या निमित्ताने, लोक एकमेकांना ‘दिवाळीच्या हार्दिक शुभेच्छा’ देऊन त्यांचा आनंद आणि एकता व्यक्त करतात. शुभेच्छा देणे केवळ एक प्रथा नाही तर प्रेम, आदर आणि सहकार्याच्या भावना प्रकट करण्याचा एक महत्त्वाचा मार्ग आहे. हा सण एक नवा आरंभ दर्शवतो आणि यामध्ये एकत्र येण्याचे एक उत्तम कारण आहे.
या विशेष दिवशी, गहूची चविष्ट पदार्थ, मिठाई, आणि इतर खास वाण्या एकत्र येतात. लोक त्यांच्या प्रियजनांना मिठाई, चाकल्या, आणि दिवाळीतले पारंपारिक भाज्या व मसाले भेट देण्यासाठी उत्सुक असतात. हे वाणे केवळ खाण्याच्या दृष्टिकोनातून महत्त्वाचे नाहीत, तर हे रंग, स्वरूप आणि चवीतून व्यक्त केलेले प्रेम आणि स्नेहाचे प्रतीक आहेत. ‘दिवाळीच्या हार्दिक शुभेच्छा’ देताना, आपले विचार खूप महत्त्वाचे आहेत, ज्यामुळे आपल्या स्थानिक समुदायात सकारात्मकता वाढवली जाते.
दिवाळीच्या निमित्ताने शुभेच्छा देणे आणि वाण्या सरतेशेवटी लोकांच्या नातेसंबंधांना बळकटी देण्यास मदत करते. नेक कार्यांमुळे संबंध अधिक मजबूत होतात, जे आपल्या सामाजिक जीवनात महत्त्वाचे ठरते. ‘दिवाळीच्या हार्दिक शुभेच्छा’ फक्त शब्दांची एक मालिका नाहीत, तर त्या भावना व मूल्यांची प्रतिकृती आहेत ज्यामुळे आपण सर्व एकत्र येऊन एकत्रितपणे या सणाचा आनंद घेतो.
As we move into October 2025, the compliance season is in full swing — with multiple due dates for MCA filings, GST returns, TDS statements, and Tax Audits, all overlapping with the Diwali festive season. At the same time, several representations and court orders have led to extensions or expected relaxations for various filings. Let’s go through all updates and due dates one by one
MCA — Extension for Annual Filings & DIR-3 KYC
The Ministry of Corporate Affairs (MCA) has extended the due date for filing e-Form DIR-3 KYC and web form DIR-3 KYC-WEB without additional fees up to 31st October 2025
Practical Tip:
File your Director KYC before 31st October to avoid the ₹5,000 late fee. Companies should also begin preparing their Form AOC-4 (Financial Statements) and MGT-7/MGT-7A (Annual Return), as these are due soon after AGM closure (generally within 30 or 60 days of AGM).
Income Tax — Extension Expected for Audit & ITR Filing
Several High Courts have directed the CBDT to extend the due dates for ITR filing for audit cases.
Though official CBDT notification is awaited, these extensions are expected considering the heavy compliance load and technical portal issues.
Practical Tip:
Don’t wait for the official circular — start finalizing audits and ITRs now. If notified, file by the new dates to avoid penalty under Section 271B.
GST — Possible Extension for GSTR-3B (September 2025 Period)
Professional bodies such as BCAS and ICAI have requested an extension of GSTR-3B filing for the September 2025 period, due to Diwali holidays and the rollout of new GST changes (IMS & refund automation).
The government is reportedly considering extending the due date from 20th October 2025 to 25th October 2025.
Though not yet officially notified, such extensions around the festive period are quite possible.
Practical Tip:
File GSTR-1 (Monthly) by 11th October 2025 and Quarterly by 13th October 2025. Plan GSTR-3B filings early to avoid Diwali-week portal rush.
TDS, TCS & Other Key Compliance Due Dates (October 2025)
The Finance Ministry on Friday made it clear that the government is not considering any proposal to levy Goods and Services Tax (GST) on UPI transactions over ₹2,000.
NEW DELHI: The claims that the government is considering levying Goods and Services Tax (GST) on UPI transactions over ₹2,000 are completely false, misleading, and without any basis, said the Ministry of Finance in a statement Friday.
Currently, there is no such proposal before the government, the Finance Ministry clarified.
GST is levied on charges, such as the Merchant Discount Rate (MDR), relating to payments made using certain instruments.
Effective January 2020, the Central Board of Direct Taxes (CBDT) removed the Merchant Discount Rate (MDR) on Person-to-Merchant (P2M) UPI transactions through a Gazette Notification dated December 30, 2019.
Since currently no MDR is charged on UPI transactions, there is consequently no GST applicable to these transactions.
The government remains committed to promoting digital payments via UPI, the Finance Ministry said.
To support and sustain the growth of UPI, an incentive scheme has been operational from 2021-22.
This scheme specifically targets low-value UPI (P2M) transactions, benefiting small merchants by alleviating transaction costs and promoting wider participation and innovation in digital payments.
The total incentive payouts under this scheme over the years reflect the government’s sustained commitment to promoting UPI-based digital payments.
Allocation under the scheme over the years has been: FY2021-22: ₹1,389 crore; FY2022-23: ₹2,210 crore; and FY2023-24: ₹3,631 crore.
“These measures have significantly contributed to India’s robust digital payments ecosystem,” the ministry said.
According to the ACI Worldwide Report 2024, India accounted for 49 per cent of global real-time transactions in 2023, reaffirming its position as a global leader in digital payments innovation.
UPI transaction values have seen an exponential increase, growing from ₹21.3 lakh crore in 2019-20 to ₹260.56 lakh crore by March 2025. Specifically, P2M transactions have reached ₹59.3 lakh crore, reflecting growing merchant adoption and consumer confidence in digital payment methods.
The Central Board of Indirect Taxes and Customs (CBIC) has announced that any hotel which charges room rent above ₹7,500 per day at any point during a financial year will be classified as a ‘specified premises’ for the following year. As a result, restaurant services offered within such hotels will attract 18% GST, with the benefit of input tax credit (ITC) available.
From April 1, 2025, the taxability of such restaurants which operate inside hotels will be on the basis of value of supply (transactional value). This would replace the concept of ‘declared tariff’ which included charges for all amenities provided in the unit of accommodation (given on rent for stay) like furniture, air conditioner, refrigerators or any other amenities, but without excluding any discount offered on the published charges for such unit.
“For the period starting from 01.04.2025, the value of supply of hotel accommodation in the previous FY, i.e., the transaction value charged for the said supply, would be the basis for determining whether the premises providing hotel accommodation service mandatorily falls under the category of ‘specified premises’ or not in the current FY,” the CBIC said in a FAQ issued on the topic of ‘Restaurant Service’ supplied at ‘Specified Premises’.
The CBIC has defined ‘specified premises’ as those premises from where the supplier has provided in the preceding financial year, ‘hotel accommodation’ service having the value of supply of any unit of accommodation above Rs 7,500 per unit per day or equivalent.
Restaurant services inside such hotel units would automatically attract 18 per cent GST, with input tax credit (ITC).
Restaurant services inside hotels whose room rent has not crossed Rs 7,500/unit/day in the preceding financial year will continue to attract 5 per cent GST, without ITC.
Also, those hotels which intend to charge over Rs 7,500 room rent from the next fiscal can file an ‘opt in’ declaration with GST authorities between January 1 and March 31 of the ongoing fiscal. Also, hotels seeking new registration will have to fill in opt in declaration with 15 days of obtaining it declaring the said premises as ‘specified premises’.
The CBIC said the notion of ‘declared tariff’ was being replaced with ‘value of supply’ (i.e. transaction value) in the definition of specified premises, as the hotel industry has largely moved to a dynamic pricing model.
Making the ‘specified premises’ status of a premises providing hotel accommodation service, in the current FY, dependent upon the ‘value of supply’ of units of accommodation provided by the hotel in the previous financial year, will give certainty regarding the ‘specified premises’ status of a hotel for any financial year.
It will also “give an option to the supplier of hotel accommodation service to declare the premises as ‘specified premises’ so that the restaurants located in the said premises can avail the rate of 18 per cent with ITC on the supply of restaurant service”, the CBIC said.
The Government of India, through the Finance Ministry and the Central Board of Indirect Taxes and Customs (CBIC), has introduced a GST Amnesty Scheme 2025. This scheme provides relief to taxpayers by waiving penalties and interest for certain past GST liabilities. The changes have been incorporated through Section 128A of the CGST Act, 2017, along with Rule 164 of the CGST Rules, 2017. The scheme applies to tax demands for the period from 1st July 2017 to 31st March 2020.
This article provides a detailed breakdown of the scheme, its eligibility criteria, benefits, procedural aspects, and clarifications issued by the CBIC through Circular No. 248/05/2025-GST and Notification No. 11/2025-Central Tax.
Circular No. 248/05/2025-GST
Notification No. 11/2025-Central Tax
Key Highlights of the GST Amnesty Scheme 2025
New Section 128A inserted into the CGST Act, 2017, allowing waiver of interest, penalty, or both for past tax demands.
Rule 164 added to the CGST Rules, 2017, to provide procedural guidance for availing benefits.
Applicable for tax demands raised under Section 73 of the CGST Act for the period 1st July 2017 to 31st March 2020.
Taxpayers need to make payments using FORM GST DRC-03 or other prescribed methods.
The scheme is effective from 1st November 2024.
Eligibility for Amnesty Benefits
As per Circular No. 248/05/2025-GST, the following categories of taxpayers can avail of the GST amnesty scheme:
Taxpayers who have already paid tax through FORM GSTR-3B
If the payment was made before 1st November 2024, it will be considered valid for amnesty.
However, payments made after this date must be through FORM GST DRC-03.
Taxpayers who have pending tax liabilities under Section 73
They must pay their due tax to avail of interest and penalty waiver.
Taxpayers who have filed appeals against consolidated adjudication orders
If an appeal covers periods both inside and outside the amnesty period, the taxpayer can withdraw only the portion related to the amnesty period (FY 2017-18 to 2019-20).
Procedural Requirements
The scheme specifies clear steps for taxpayers to follow in order to claim amnesty benefits:
A. Payment of Tax Liability
If the taxpayer already paid tax before 1st November 2024 via GSTR-3B, it will be considered valid.
If payment is made on or after 1st November 2024, it must be done using FORM GST DRC-03.
B. Withdrawal of Appeals
If a taxpayer has filed an appeal covering multiple financial years, they can partially withdraw the appeal for the period covered under Section 128A (FY 2017-18 to 2019-20).
The appellate authority will continue proceedings for the periods beyond the amnesty coverage.
Key Clarifications from CBIC
The CBIC issued Circular No. 248/05/2025-GST and Notification No. 11/2025-Central Tax to clarify various issues faced by taxpayers:
A. Treatment of Past Payments (FORM GSTR-3B)
Taxpayers who paid tax via FORM GSTR-3B before 1st November 2024 are eligible for amnesty.
Post 1st November 2024, payments must be made through FORM GST DRC-03.
B. Appeal Withdrawal Process
If an appeal covers both eligible (FY 2017-18 to 2019-20) and non-eligible periods, the taxpayer needs to:
Withdraw the appeal for the eligible period.
Continue the appeal for the non-eligible period.
C. No Refund for Taxes Already Paid
No refund will be granted for taxes, interest, or penalties already paid before the introduction of Rule 164.
If a demand notice covered both amnesty and non-amnesty periods, only the eligible period gets relief.
Changes Introduced in Rule 164 (via Notification No. 11/2025)
Modification in Rule 164(4):
Taxpayers must pay tax only for the period covered under Section 128A.
Partial appeal withdrawal is allowed.
Insertion of Explanation in Rule 164(4):
If a demand covers both eligible and non-eligible periods, the taxpayer will not receive a refund for taxes already paid.
Addition to Rule 164(7):
Instead of withdrawing a full appeal, taxpayers can notify the appellate authority that they wish to withdraw only for the amnesty period.
The Budget 2025 introduced major amendments to the Income Tax Act, 1961, aimed at simplifying India’s tax structure. These changes take effect from 1st April 2025 and will be applicable for FY 2025-26 (AY 2026-27).
1. Income Tax Slabs for FY 2025-26 (AY 2026-27)
The Budget 2025 introduced revised tax slabs under Section 115BAC (New Tax Regime) to enhance savings and boost spending capacity. These new slab rates apply to income earned in FY 2025-26 onwards.
Income Tax Slabs
Income Tax Rates
Up to ₹4 lakh
NIL
₹4 lakh – ₹8 lakh
5%
₹8 lakh – ₹12 lakh
10%
₹12 lakh – ₹16 lakh
15%
₹16 lakh – ₹20 lakh
20%
₹20 lakh – ₹24 lakh
25%
Above ₹24 lakh
30%
Note: Old Tax Regime (Optional) slab rates remain unchanged.
2. Increased Rebate Under Section 87A
The rebate under Section 87A has been increased to ₹60,000 from the previous limit of ₹25,000. This means taxpayers with income up to ₹12 lakh will have zero tax liability under the New Tax Regime.
3. Tax Deduction at Source (TDS) Changes
Effective April 2025, the TDS threshold limits for various sections have been increased as follows:
Section
Before 1st April 2025
From 1st April 2025
193 – Interest on securities
NIL
₹10,000
194A – Interest other than Interest on securities
(i) ₹50,000 for senior citizens (ii) ₹40,000 for others (banks, co-op societies, post offices) (iii) ₹5,000 in other cases
(i) ₹1,00,000 for senior citizens (ii) ₹50,000 for others (banks, co-op societies, post offices) (iii) ₹10,000 in other cases
194 – Dividend for individual shareholder
₹5,000
₹10,000
194K – Income from mutual fund units
₹5,000
₹10,000
194B & 194BB – Winnings from lottery, crossword, horse race
Aggregate exceeding ₹10,000 annually
₹10,000 per transaction
194D – Insurance commission
₹15,000
₹20,000
194G – Commission/prizes on lottery tickets
₹15,000
₹20,000
194H – Commission or brokerage
₹15,000
₹20,000
194I – Rent
₹2,40,000 annually
₹50,000 per month
194J – Professional/technical services fees
₹30,000
₹50,000
194LA – Compensation on land acquisition
₹2,50,000
₹5,00,000
194T – Remuneration/interest/commission to partners
NIL
₹20,000
The following changes in TDS Rates will apply from 1st April 2025:
S. No.
Section of the Act
Existing TDS/TCS Rate
Proposed TDS/TCS Rate
1.
Section 194LBC – Income in respect of investment in securitization trust
25% (if payee is an Individual or HUF) and 20% (otherwise)
10%
Note: Other TDS provisions remain unchanged.
4. Omission of TCS on Sale:
Existing Provision (Section 206C(1H))
TCS at 0.1% is collected on the sale of goods (except exports and certain specified goods). Applicable if the sale value exceeds ₹50 lakh in a financial year.
Issue with Existing Provision
TDS under Section 194Q also applies at 0.1% on the same transaction. Uncertainty for sellers, as they are often unaware if the buyer has deducted TDS, leading to double compliance(both TDS & TCS).
Key Change:
TCS on the sale of goods (Section 206C(1H)) is removed from 01.04.2025. TDS under Section 194Q will continue.
4. Benefits to Taxpayers
No double compliance (TCS & TDS confusion removed). Reduced compliance burden for sellers. Avoids unnecessary liquidity blockage.
5. Effective Date
From 01.04.2025, sellers are NOT required to collect TCS on the sale of goods.
5. Tax Collected At Source (TCS) Changes
The following TCS changes will be effective from April 2025:
Section
Before 1st April 2025
From 1st April 2025
206C(1G) – Remittance under LRS & Overseas Tour Packages
₹7 lakh
₹10 lakh
206C(1G) – Remittance for education through loans
₹7 lakh
NIL (No TCS)
Definition of “Forest Produce” Rationalized
Q1. What are the major provisions of Section 206C(1) (TCS on Sale of Specified Goods)? Section 206C(1) mandates TCS collection on the sale of specific goods like alcohol, timber, tendu leaves, and other forest produce.
Q2. What changes were made in Finance Bill 2025?
Three major amendments:
“Forest produce” has been formally defined.
Scope clarification: Now, only “forest produce under a forest lease” is liable for TCS.
TCS Rate Reduction:
TCS on timber and other forest produce (excluding tendu leaves) under a forest lease is reduced from 2.5% to 2%.
Q3. How has “forest produce” been defined? It follows the meaning provided under State Forest Acts or the Indian Forest Act, 1927.
Q4. What are the key changes in TCS applicability on forest produce? Earlier: TCS was applicable to all forest produce sales. Now: Only forest produce obtained under a forest lease is liable for TCS.
Q5. What is the new TCS rate for forest produce (excluding timber and tendu leaves) under a forest lease? The TCS rate is reduced from 2.5% to 2%.
Exemption from Prosecution for Delayed Payment of TCS (Section 276BB)
Q1. What is Section 276BB of the Income-tax Act, 1961? Section 276BB provides for prosecution in case of failure to pay the tax collected at source (TCS) to the credit of the Central Government.
Q2. What amendment has been made in Section 276BB in Finance Bill 2025? The amendment states that prosecution shall not be instituted if the person has paid TCS to the credit of the Central Government on or before the prescribed time for filing the TCS statement under proviso to Section 206C(3).
Q3. What happens if the person does not pay TCS even after the due date? The present provisions of Section 276BB shall continue to apply, meaning prosecution can be initiated.
Q4. How does this amendment benefit taxpayers? Taxpayers who miss the TCS payment deadline but pay before filing the TCS statement will now be exempt from prosecution, reducing litigation risks.
6. Removal of Higher TDS/TCS for Non-Filers of Income Tax Return
Q1. What are Sections 206AB and 206CCA of the Act? Section 206AB mandates higher TDS rates for non-filers of income tax returns. Section 206CCA mandates higher TCS rates for non-filers of income tax returns.
Q2. What changes were made in Finance Bill 2025? Both sections are proposed to be omitted from 01.04.2025 onwards.
Q3. How does this benefit taxpayers? Deductors and collectors no longer need to verify whether the deductee/collectee has filed an income tax return, reducing compliance burdens. However, higher TDS/TCS rates for invalid PAN or no-PAN cases will continue to apply.
Q4. From when will these sections be omitted? From 1st April 2025, these provisions will no longer be applicable.
7. Updated Tax Return (ITR-U) Deadline Extended
The deadline for filing an Updated Tax Return (ITR-U) has been extended from 12 months to 48 months (4 years). Additional tax liability depends on when the ITR-U is filed:
If ITR-U filed within
Additional Tax
12 months from relevant AY
25% of additional tax (tax + interest)
24 months from relevant AY
50% of additional tax (tax + interest)
36 months from relevant AY
60% of additional tax (tax + interest)
48 months from relevant AY
70% of additional tax (tax + interest)
8. Benefits for IFSC Units
Sunset date extended: IFSC units can now commence operations until 31st March 2030 to claim tax benefits.
Life insurance policies issued by IFSC offices to non-residents are fully exempt under Section 10(10D), with no limit on premium amount.
9. Tax Exemptions for Start-ups
Start-ups incorporated before 1st April 2030 can avail 100% tax exemption on profits for three consecutive years out of ten years under Section 80-IAC, subject to conditions.
10. Tax Deduction for NPS Vatsalya
1. What is NPS Vatsalya?
A pension scheme launched on 18.09.2024, allowing parents/guardians to maintain an NPS account for minor children.
2. Existing 80CCD Provisions
Deduction available for contributions to NPS by employees, employers, or any assessee.
Withdrawals are taxable, subject to certain conditions.
3. Key Amendments in Finance Bill 2025
Tax Deduction Extended: Parents/guardians can now claim deduction for contributions to NPS Vatsalya (for up to 2 minor children) under the old tax regime. Allowed under Section 80CCD(1B) with an overall cap of ₹50,000 (including self & children’s contributions). Partial withdrawal (up to 25%) is tax-exempt under Section 10(12BA). Final withdrawal is taxable if a deduction was claimed earlier.
4. Effective Date
Applicable from AY 2026-27 (PY 2025-26).
11. Tax Exemption for Withdrawals from National Savings Scheme (NSS):
1. Previous NSS Provisions
Section 80CCA allowed deduction for deposits in National Savings Scheme (NSS).
Withdrawals (with interest) were taxable if a deduction was claimed earlier.
No deduction was allowed under Section 80CCA since AY 1992-93.
No tax on withdrawals after the depositor’s demise.
2. Key Change in NSS (DEA Notification – 29.08.2024)
No interest will be credited to NSS accounts from 01.10.2024.
3. Benefits under Finance Bill 2025
Tax exemption granted on withdrawals made on or after 29.08.2024. Exemption applies only to deposits for which deduction under Section 80CCA was claimed earlier. Allows depositors to withdraw funds without tax liability.
4. Effective Date
Applicable for withdrawals made on or after 29.08.2024.
12. Deduction on Remuneration Paid to Partners
The maximum deduction available for partners’ remuneration will be:
Book Profit
Deduction Limit
First ₹6,00,000 of book profit or loss
₹3,00,000 or 90% of book profit, whichever is higher
Remaining book profit
60% of book profit
13. Clarity in Taxation of Income on Redemption of Unit Linked Insurance Policy (ULIP)
Q1. What are the provisions relating to amounts received under a life insurance policy?
Ans. Section 10(10D) provides income-tax exemption on the sum received under a life insurance policy, including any bonus, subject to certain conditions.
Q2. What conditions must be fulfilled to claim exemption under Section 10(10D)?
Ans. To claim the exemption, the following conditions must be met:
The annual premium for any year during the policy term should not exceed 10% of the actual sum assured (for policies issued on or after 01.04.2012).
For policies issued after 01.02.2021, the total premium must not exceed ₹2,50,000 (for ULIPs) or ₹5,00,000 (for other life insurance policies) to qualify for exemption.
Q3. What happens if the conditions under Section 10(10D) are not fulfilled?
Ans. If the above conditions are not met, then:
For ULIP policies, the amount received will be taxed as capital gains under Section 45(1B).
For other life insurance policies, the income will be taxed under “Income from Other Sources”.
Q4. What changes have been introduced through the Finance Bill 2025?
Ans.
Previously, even if the ULIP premium exceeded 10% of the sum assured, the redemption amount was not explicitly taxed under “Capital Gains.” This led to ambiguity regarding its tax treatment.
Finance Bill 2025 clarifies that any sum received from a non-exempt ULIP policy will be taxed as capital gains.
This ensures uniform tax treatment for all ULIP policies, eliminating any confusion.
Thus, if the exemption under Section 10(10D) does not apply, the income received will be taxed as:
Capital Gains (for ULIP policies)
Income from Other Sources (for non-ULIP life insurance policies)
14. Changes for Charitable Trusts & Institutions
1. Extended Registration Validity
Trusts with income below ₹5 crores now get 10-year registration validity instead of 5 years.
2. Flexibility for Incomplete Applications
Incomplete registration applications will no longer lead to automatic cancellation. Trusts can now rectify mistakes before rejection.
3. Changes in ‘Specified Persons’ Definition
Higher contribution threshold:
A person is considered a “specified person” if they contribute ₹1 lakh in a financial year (earlier ₹50,000) OR ₹10 lakh in total (earlier no such limit).
‘Relatives’ and ‘concerns’ of specified persons are excluded from the definition.
Founders, trustees, and managers remain fully covered under existing restrictions.
15.Obligation to Furnish Information on Crypto Assets
1. Definition of Crypto Asset
Crypto assets are defined under Section 2(47A) as part of the Virtual Digital Asset (VDA) definition in the Income Tax Act.
2. Key Amendments in Finance Act 2025
Reporting entities must furnish prescribed information on crypto transactions. Information must be reported within the prescribed time and manner to the Income Tax Authority.
3. Reporting Obligations
Who must report? A prescribed reporting entity under Section 285BAA (to be defined in Income Tax Rules).
What information? Details of crypto transactions (as specified in Income Tax Rules).
To whom? The Income Tax Authority (as prescribed).
4. Why is this Reporting Necessary?
India is among 52 jurisdictions adopting the Crypto-Asset Reporting Framework (CARF). CARF mandates Automatic Exchange of Tax-Relevant Information (AEOI) on crypto assets. The G20 Leaders’ New Delhi Declaration called for swift CARF implementation.
5. Implementation Date
Reporting entities must start providing information from the prescribed date (to be notified in rules).
16. Annual Value of Self-Occupied Property : Deemed Let out property
The taxation of self-occupied property has been simplified. Relaxation in conditions under Section 23(2) for determining annual value as nil.
Previous Conditions
The annual value of a self-occupied house was considered nil if: The owner resided in it. The owner could not reside due to business, profession, or employment reasons.
New Relaxations in Finance Act 2025
Now, the annual value will be nil if the property is self-occupied, regardless of the reason for not residing in it. No longer necessary to prove that the owner couldn’t reside due to work-related reasons.
4. How Many Properties Can Be Considered as Nil?
Up to two self-occupied properties, at the owner’s option, can have nil annual value (if no rent or benefit is derived).
5. Example Scenario
House 1 (Bangalore) – Mother resides.
House 2 (Mumbai) – Owner resides.
House 3 (Delhi) – Vacant.
The owner can choose two houses to be treated as self-occupied with nil annual value for tax purposes.
6. Effective Date
Applies fromPrevious Year 2024-25 (Assessment Year 2025-26 onwards).
MCA — Extension for Annual Filings & DIR-3 KYC
Practical Tip:
File your Director KYC before 31st October to avoid the ₹5,000 late fee.
Income Tax — Extension Expected for Audit & ITR Filing
GST — Possible Extension for GSTR-3B (September 2025 Period)
TDS, TCS & Other Key Compliance Due Dates (October 2025)
Due Date
Compliance
TCS at 0.1% is collected on the sale of goods (except exports and certain specified goods).
TDS under Section 194Q also applies at 0.1% on the same transaction.
No double compliance (TCS & TDS confusion removed).
From 01.04.2025, sellers are NOT required to collect TCS on the sale of goods.
Section 206C(1) mandates TCS collection on the sale of specific goods like alcohol, timber, tendu leaves, and other forest produce.
The owner resided in it.
The owner could not reside due to business, profession, or employment reasons.
Up to two self-occupied properties, at the owner’s option, can have nil annual value (if no rent or benefit is derived).
The owner can choose two houses to be treated as self-occupied with nil annual value for tax purposes.