lawyer2ca

[lawyer2ca]

Budget 2025 Update: No Tax Relief for Crypto Investors! 💸

- @lawyer2ca

The Indian government has made its stance on crypto clear in Budget 2025—no changes in the 30% tax rate or 1% TDS on transactions. Instead, new compliance requirements have been introduced, making it even more crucial for investors and traders to stay updated.

🔹 No reduction in tax rates—Crypto gains still taxed at 30% 📉

🔹 1% TDS continues on transactions 💰

🔹 More compliance obligations for investors 📑

Unreported Virtual Digital Assets (VDAs) are now classified as undisclosed income, attracting a 60% tax + 50% penalty! 📉💸

#cryptocurrency #Budget2025 #taxes #Investing #cryptotax #blockchain #Lawyer2CA

[lawyer2ca]

Highlights of Budget 2025 - @lawyer2ca®️

✅Credit Cards for Micro Enterprises: Customised Credit Cards with a ₹ 5 lakh limit for micro enterprises registered on Udyam portal

✅Credit Guarantee cover for Micro & Small Enterprises increased from ₹ 5 Crore to ₹ 10 Crore

✅Explanation explaining the meaning of ‘plant and machinery’ at the end of section 17 of CGST Act, 2017 shall apply to Section 17(5)(d) also; With the proposed insertion of new explanation, the effect of the judgement of Hon’ble SC in case of M/s Safari Retreat case of Safari Retreats Private Limited giving a separate meaning to ‘plant or machinery’ has been done away with.

#Lawyer2CA #entrepreneur #IncomeTax #UnionBudget2025 #NirmalaSitharaman #finance #Global #indian #Budget2025

[lawyer2ca]

Highlights of Budget 2025 - @lawyer2ca®️

✅Changes in TDS:

> Section 194I (Rent): Proposed threshold to be ₹ 50,000 per month or part of month (not applicable on individual or HUF) from ₹ 2,40,000 in a Financial Year

> Section 194J (Fees for professional services, technical services, etc): ₹ 50,000 from ₹ 30,000

✅No TCS to apply on remittance made under the Liberalised Remittance (LRS) Scheme for purpose of education if the remittance is financed by a loan obtained from specified financial institution(s)

✅Threshold to apply TCS on remittances under LRS Scheme and overseas tour program package to be increased from ₹ 7,00,000 to ₹ 10,00,000

#Lawyer2CA #entrepreneur #IncomeTax #UnionBudget2025 #NirmalaSitharaman #finance #Global #indian #Budget2025

[lawyer2ca]

Highlights of Budget 2025 - @lawyer2ca®️

✅The income tax slabs under the new regime are:

Up to ₹ 4 lakh - 0% tax

Between ₹ 4 & 8 lakh - 5% tax

Between ₹ 8 & 12 lakh - 10% tax

Between ₹ 12 lakh & 16 lakh - 15% tax

Between ₹ 16 lakh & 20 lakh - 20% tax

Between ₹ 20 lakh & 24 lakh - 25% tax

Above ₹ 24 lakh above - 30% tax

✅Standard deduction of ₹ 75,000 for the New Alternate Tax Regime

✅For the New Alternate Tax Regime cases, there will be no tax if the total income is up to ₹ 12.75 lakhs

✅The timeline to file an updated tax return for any assessment year extended from two to four years from the end of that assessment year; The additional tax payable with such updated tax return to be 60 per cent of the interest and tax liability if filed in the third year and 70 per cent if filed in the fourth year

✅Tax payers to be allowed to claim the annual value of 02 self occupied properties (previously 01) without any conditions (previously conditions attached).

#Lawyer2CA #entrepreneur #IncomeTax #UnionBudget2025 #NirmalaSitharaman #finance #Global #indian #Budget2025

[lawyer2ca]

🚨 Expectations for Income Tax Changes in Budget 2025 🚨

- @lawyer2ca

With Budget 2025 just around the corner, here’s a breakdown of key tax changes we can expect:

• Direct Tax Code (DTC): The DTC is expected to simplify the tax structure, with lower rates, fewer slabs, and easier filing processes. We might also see clearer rules for capital gains and more taxpayer-friendly compliance.

• Deductions & Exemptions:

- Increase in Section 80C limit to ₹2.5 lakh or more.

- Higher deductions under Section 80D for health insurance, especially for senior citizens.

- Home loan interest deduction could be increased to ₹3 lakh.

• Green Initiatives: Tax incentives for electric vehicles, renewable energy, and sustainable investments. Budget 2025 is likely to continue focusing on the EV sector with additional subsidies and tax relief for both buyers and manufacturers. The government may also introduce new reforms to promote shared electric mobility, such as electric cabs and buses, to reduce pollution and ease traffic congestion.

• Penalties & Prosecution for Dishonest Taxpayers:

- Expect tighter penalties and stricter prosecution for taxpayers who claim fake deductions or provide false information in their returns.

- Increased scrutiny on high-value claims with measures to reduce tax fraud, ensuring a more transparent system.

Budget 2025 promises to bring greater tax relief, simplified compliance, and stronger enforcement against dishonest taxpayers. Stay tuned for the official announcements! 💡

#Budget2025 #TaxReform #Directtaxcode #IncomeTax #TaxCompliance #personalfinance #corporatetax #Lawyer2CA

[lawyer2ca]

💡 Introducing PAN 2.0: A Smarter Way Forward!

- @lawyer2ca

The PAN 2.0 Project is here to revolutionize the way we manage our financial identity in India. 🌟 With enhanced features like QR Code Integration, PAN cards are becoming more secure and user-friendly than ever before.

Here’s what’s new in PAN 2.0:

✅ QR Code Feature: Enables faster, hassle-free authentication.

✅ Enhanced Security: A step towards curbing identity fraud.

✅ Easy Application Process: Applying for a PAN card is now more seamless than ever.

Whether you're a taxpayer, professional, or business owner, PAN 2.0 is designed to simplify compliance and enhance transparency.

#PANCard #PAN2.0 #FinancialInclusion #IndiaTax #DigitalIndia #Lawyer2CA

[lawyer2ca]

🎉✨ Happy New Year 2025! ✨🎉

- @lawyer2ca

Wishing everyone a year filled with growth, success, and endless opportunities. Let’s make 2025 a year to remember—filled with innovation, collaboration, and positive impact!

Here’s to new beginnings and achieving new heights together. 🚀

#HappyNewYear #NewBeginnings #Growth #Success #Collaboration #Lawyer2CA

[lawyer2ca]

GST council meeting: What gets cheaper & dearer - from popcorn to EV sale

~ @lawyer2ca

Finance Minister Nirmala Sitharaman-led 55th GST Council decided to levy higher tax rate on caramel popcorn and exempted gene therapy from the tax ambit.

· To raise the rate of tax to 18% from 12% on all used EV sales, and it will be applicable only on the value that represents margin - the difference between the purchase price and selling price (depreciated value if depreciation is claimed) - by businesses. Sale and purchase of used vehicles by individuals will continue to be exempt from GST.

· Caramelised popcorn will continue to attract tax at the rate of 18%. 'Ready-to-eat popcorn', which is mixed with salt and spices, and has the essential character of namkeens currently attracts a five per cent GST if it is not pre-packaged and labelled. Additionally, pre-packaged and labelled ready-to-eat snacks/popcorns will attract a 12% GST.

· GST Council has cut the tax rate on fortified rice kernels used for public distribution to 5% from 18%. The finance minister clarified that ACC blocks containing 50% fly ash will attract a 12% GST rate. Black pepper and raisins supplied directly by farmers will be exempt from GST.

· The finance minister announced that no GST will be levied on penal charges imposed by banks and non-banking financial companies (NBFCs) on borrowers for non-compliance with loan terms.

· The GST Council has totally exempted gene therapy [TL1] from the ambit of GST.

· The exemption of IGST on surface to air missiles, extended.

· The GST Council agreed to keep jet fuel (ATF) out of the 'one-nation-one-tax' regime. Regarding the inclusion of ATF under GST, Sitharaman confirmed that the decision was deferred after states raised concerns.

· On small companies facing registration problems, Sitharaman said a concept note has received in-principle approvals. This may require amendments to be made to the GST Acts to make it easier for small companies to register.

[lawyer2ca]

🎄✨ Merry Christmas & Happy New Year 2025! ✨🎄

As we celebrate the joy of the season and reflect on an incredible year, we at Lawyer2CA extend our heartfelt gratitude to our clients, partners, and colleagues for your trust and support.

This year has been a journey of growth and collaboration, and we’re truly grateful for the opportunities to help businesses and individuals achieve their goals.

Here’s to new opportunities, greater success, and stronger partnerships in the year ahead! May 2025 bring happiness, health, and prosperity to you and your loved ones.

Warm wishes,

Team @lawyer2ca

#MerryChristmas #HappyNewYear2025 #Lawyer2CA #Gratitude #SeasonOfJoy

[lawyer2ca]

Russia Shows Strong Interest in Manufacturing in India

- @lawyer2ca

Russian President Vladimir Putin has expressed keen interest in strengthening economic ties with India by setting up manufacturing units in the country.

🔹 Support for 'Make in India': Putin praised Prime Minister Narendra Modi’s India-First policy and the Make in India initiative for fostering an investor-friendly environment.

🔹 Major Investments: Highlighting Rosneft's $20 billion investment as a benchmark, Putin reiterated Russia's commitment to deepening its industrial presence in India.

🔹 Focus on SMEs: He commended India for creating stable conditions for small and medium-sized enterprises (SMEs), emphasizing the importance of rapid dispute resolution mechanisms to facilitate seamless operations for SMEs in BRICS+ countries.

🔹 Strengthening BRICS Collaboration: Putin advocated for greater cooperation among BRICS nations, spotlighting the role of import substitution programs and prioritizing national interests for sustainable growth.

🔹 Trade Snapshot: From April to September FY25, India’s exports to Russia amounted to $2.61 billion, while imports reached $32.23 billion.

This move underscores Russia's growing interest in India as a key manufacturing and trade partner.

Read More: https://manufacturing.economictimes.indiatimes.com/news/industry/russia-keen-to-set-up-factories-in-india/116027105

[lawyer2ca]

🚀 Honoured to Mentor and Invest at E-Gnite'24: Shaping the Future of Entrepreneurship🚀

We are honoured to announce that @lawyer2ca’s founder, Anirudh Bagai has been invited to participate in E-Gnite'24, organised by The Entrepreneurial Board (TEB) of College of Vocational Studies (CVS), Delhi University.

Looking forward to connecting with budding entrepreneurs and sharing insights on building successful ventures. 🌟

📅 Date: 25-November 2024

📍 Venue: College of Vocational Studies (CVS), Delhi University

https://www.instagram.com/p/DCudqC6TwVE/?img_index=3&igsh=NWhhMzFhMG55bjJ4

[lawyer2ca]

@lawyer2ca®️’s Founder, Anirudh Bagai, got an opportunity to take a Masterclass on "Fund Raising for a Startup" at BML Munjal University on 6 November 2024.

He had the immense pleasure of interacting with some of the brightest minds doing their post graduation in Business.

He is grateful for the opportunity and is looking forward to being a part of more such sessions.

Kudos to the organizing team for a stellar event!

#entrepreneur #Lawyer2CA #startupindia #entrepreneurship #venture #vc #venturecapital #Compliance #Legal

[lawyer2ca]

Warmest wishes on this Diwali! May your celebrations be filled with joy, prosperity, and countless blessings. Have a wonderful Diwali with family and friends.

Best,

Team @lawyer2ca®️

#HappyDiwali #Diwali2024 #Celebrations #Lawyer2CA #HappyDiwali2024 #TweetToLight #Festival #GoGreen #EcoFriendly

[lawyer2ca]

@lawyer2ca’s founder, Anirudh Bagai had a truly insightful and productive meeting with the President of the Indo-Greek Business Association today ��

Our discussion centered around fostering stronger business ties, exploring new avenues of collaboration, and leveraging the synergies between India and Greece. The exchange of ideas was invaluable, and I'm excited about the potential opportunities that lie ahead for both nations.

A big thank you to the Indo-Greek Business Association for facilitating such a meaningful dialogue. I look forward to continuing this partnership and working together to drive innovation and growth in the Indo-Greek business community. 🌍🤝

#BusinessCollaboration #IndoGreekPartnership #GlobalBusiness #Innovation #Networking #NewOpportunities #Lawyer2CA @lawyer2ca

[lawyer2ca]

Unlock the doors to European living with a Greece Golden Visa! 🇬🇷 - @lawyer2ca

✈️ Visa-free travel across the Schengen Area.

💶 Affordable entry with property investment.

🏠 Attractive ROl in Greece's growing real estate market.

🌍 Path to Greek citizenship and European residency.

🔐 Ownership in one of Europe's most desirable destinations.

Join us on an unforgettable journey of a lifetime. For more information, contact us at:

+91 99999 48784

info (at) Lawyer2CA (dot) com

#Greece #GreeceGoldenVisa #GoldenVisa #Investment #DualCitizenship #CitizenshipByInvestment #ImmigrationConsultant #Lawyer2CA #India

[lawyer2ca]

Lawyer2CA’s founder, Anirudh Bagai just wrapped up a highly productive meeting with our Serbian legal advisor at the Hilton, Belgrade on 28-August-2024. We had an in-depth discussion about the numerous benefits of setting up in GIFT City and the immense investment potential in India.

If you’re considering establishing your company in GIFT City, feel free to connect with us at info@Lawyer2CA.com or +91 9999948784. We’re here to help!

#serbia #belgrade #lawyer2ca #company #companyregistration #companyformation #technology #tech #giftcity #greece

[lawyer2ca]

Lawyer2CA’s founder, Anirudh Bagai just wrapped up a highly productive meeting with our Serbian legal advisor at the Hilton, Belgrade on 28-August-2024. We had an in-depth discussion about the numerous benefits of setting up in GIFT City and the immense investment potential in India.

If you’re considering establishing your company in GIFT City, feel free to connect with us at info@Lawyer2CA.com or +91 9999948784. We’re here to help!

#serbia #belgrade #lawyer2ca #company #companyregistration #companyformation #technology #tech #giftcity #greece