F I G
figment global solutions pvt. ltd.
E N T

Global Solutions Pvt. Ltd.

msme compliance
MSME Compliance and Tax Impact in India: Section 43B(h) and Company Law Updates Effective April 2025

admin Posted On | May 12, 2025

With the evolving regulatory landscape, businesses working with Micro, Small, and Medium Enterprises (MSMEs) in India must pay close attention to new compliance norms. The Government of India, through the Finance Act 2023 and various CBDT notifications, has introduced significant changes effective from April 2024 and April 2025. These changes include stricter deduction rules under […]

Read More
Previous Blogs
msme compliance
Posted On | May 12, 2025

MSME Compliance and Tax Impact in India: Section 43B(h) and Company Law Updates Effective April 2025

With the evolving regulatory landscape, businesses working with Micro, Small, and Medium Enterprises (MSMEs) in India must pay close attention to new compliance norms. The Government of India, through the Finance Act 2023 and various CBDT notifications, has introduced significant changes effective from April 2024 and April 2025. These changes include stricter deduction rules under […]

Read More
form 26a
Posted On | May 6, 2025

Form 26a (Non-Deduction Or Short Deduction) – Legal Provisions, Benefits & Procedure

There are instances where deductor fail to deduct or short-deduct the TDS on certain payments. Non-Deduction or short deducted results in the deductor being labelled as “Assessee in Default” under section 201(1) of the Income Tax Act, 1961. Deductor with “Assessee in Default” have to face the consequences such as interest payment on short deduction/Non-Deduction, […]

Read More
tds on sale of property
Posted On | May 3, 2025

TDS on Sale of Property: Step-by-Step Filing & Compliance Guide

When a buyer buys immovable property (i.e. a building or part of a building or any land other than agricultural land) costing more than Rs 50 lakhs, buyer has to deduct tax at source at 1% under section 194IA of the total sale amount when he pays the seller. i]. If the payment is made by […]

Read More
certificates tds form 13
Posted On | April 28, 2025

Understanding Lower Deduction Certificates-TDS (Form 13)

Tax Deducted at Source (TDS) is a mechanism in India where tax is collected at the time of payment to ensure compliance and prevent tax evasion. However, in certain cases, taxpayers may be eligible for a lower or nil deduction of TDS, which is facilitated through Form 13. What is Form 13? Form 13 is […]

Read More
fatca crs in india
Posted On | April 25, 2025

FATCA & CRS in India: Purpose, Process, and Reporting Explained

Why Needs for FATCA and CRS arrived: The use of offshore financial accounts for tax evasion and avoidance is a pressing concern for governments all around the world. There is an international consensus that the domestic measures taken to address this problem must be supplemented by enhanced cooperation amongst governments including exchange of tax information on […]

Read More
MSME Form 1 compliance
Posted On | April 22, 2025

MSME Form 1 Compliance Tightened: New Disclosure Norms Every Company Should Know

In its constant endeavour to bring ease of doing business, the Ministry of Corporate Affairs (MCA) has been in the process of shifting all the e-forms from V2 version of MCA portal to V3 version of the Portal wherein all the forms are in the format of web-based forms. In this brief article, we shall […]

Read More
tds and tcs compliances in cooperative banks
Posted On | April 19, 2025

TDS and TCS Compliances in Cooperative Banks

TDS (Tax Deducted at Source) is a mechanism where a certain percentage of tax is deducted from the income of an individual or entity at the time of payment, such as salary, interest, dividends, or contract payments.

Read More
Reverse Charge Mechanism
Posted On | April 14, 2025

Reverse Charge Mechanism (RCM) in GST: Full Guide for 2025

In India’s evolving GST framework, the Reverse Charge Mechanism (RCM) ensures compliance, particularly in transactions involving unregistered suppliers, imports, or specific notified goods and services. Under RCM, the recipient of goods or services becomes liable to pay GST, not the supplier. This blog presents a complete guide to RCM, covering: What is Reverse Charge Mechanism (RCM)? RCM […]

Read More
Small Finance Banks
Posted On | April 5, 2025

Understanding Small Finance Banks (SFBs) and Their Role in TDS Compliance

Small Finance Banks (SFBs) play a crucial role in financial inclusion by extending banking services to underserved and unbanked sections of society.

Read More