Taxmantra

04/05/2025

Poll of the day.
Is a tax invoice required at the time of equipment delivery for rental businesses?

Option - (A) Yes required
Option - (B) Not required.

Please explain also

( Niten Rana)

15/02/2025

https://taxmantra.websites.co.in/index.php

08/02/2025

**🌟 Our Services 🌟**

**Business Structures:**
- Individual
- Partnership
- Private Limited

**Tax and Compliance Services:**
- **Income Tax Return** Filing
- **ESI-PF Registration** & Returns
- **GST Registration** & Returns
- **UDYAM Registration** for MSME
- **Digital Signature Certificate (DSC)**
- **Trade License** Acquisition
- **FSSAI License** Registration
- **Business PAN Card** Application
- **Legal Deed Drafting**
- **Professional Tax** Registration
- **Trademark® Registration**
- **Projected, Estimated, and CMA Reports**
- **Loan and Allied Taxation Services**

For more details or to get started, please contact us.

**Regards,**
Niten Rana
(TaxMantra)
📞 8240947052 / 9874312650
✉ [email protected]

💫 **Wishing You The Best of Luck!** 💫

01/02/2025

The Union Budget 2025, categorized into two sections: General and Direct & Indirect Tax. Here's a breakdown:

General Highlights:

1. Kisan Credit Card Limit Increase – Farmers now have a higher credit limit, increasing from ₹3 lakh to ₹5 lakh.

2. Infrastructure Development in IITs – Additional infrastructure investment in five IITs set up after 2014, with a focus on expanding IIT Patna.

3. Medical Education Expansion – Plans to add 10,000 more medical seats in the next year and 75,000 over five years.

4. Investment in AI – ₹500 crore allocated for a Centre of Excellence in Artificial Intelligence.

5. Support for Gig Workers – Social welfare scheme introduced for gig economy workers.

6. Jal Jeevan Mission Extension – Extended till 2028 to provide water to households.

7. Urban Development Fund – ₹1 lakh crore allocated for urban development projects.

8. Greenfield Airports in Bihar – New airports, including one in Patna, to boost connectivity.

9. Private Sector R&D Investment – ₹20,000 crore allocated for research and development.

10. Tourism Development – Focus on 50 tourist destinations, particularly those linked to Buddha.

11. ‘Heal in India’ Initiative – Promotion of medical tourism.

12. FDI in Insurance – Foreign Direct Investment (FDI) cap raised to 100% if the entire premium is invested in India.

13. KYC Registry Overhaul – Improved Know Your Customer (KYC) system to be implemented.

14. Customs Tariff Rationalization – Simplifying and adjusting tariff structures.

15. Healthcare Support – 36 life-saving drugs exempted from duty, with a 5% duty on six critical medicines.

Direct & Indirect Tax Reforms:

1. New Income Tax Bill – To be introduced next week.

2. Simplification of Income Tax Bill – Designed to be straightforward and close to the existing structure.

3. Middle-Class Tax Reforms – Measures to provide relief for the middle class.

4. Tax-Free Income Up to ₹12 Lakh – No income tax for earnings up to ₹12 lakh.

5. Changes in Tax Slabs – Modifications in the existing tax brackets.

6. Rationalization of TDS & TCS – Changes to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS).

7. Higher TDS Exemption on Rent – Limit raised from ₹2.4 lakh to ₹6 lakh.

8. Higher TDS Exemption for Senior Citizens – Raised from ₹50,000 to ₹1,00,000.

9. Removal of TCS on Education Remittances – No tax collected on money sent abroad for education.

10. Extension of ‘Updated Return’ Time Limit
Regards,
Niten Rana
(TaxMantra)

📲 8240947052 / 9874312650
✉️ [email protected]

WISHING YOU BEST OF LUCK

01/02/2025

The summary of the Union Budget 2025-26 with a focus on income tax reforms under the new tax regime in India. Here are the key takeaways:

1. Zero Tax for Income up to ₹12 Lakh

The government has increased the nil tax slab to ₹12 lakh, meaning individuals earning up to this amount will not have to pay income tax.

For salaried taxpayers, this limit is extended to ₹12.75 lakh due to a standard deduction of ₹75,000.

2. Objective

The new tax structure aims to reduce taxes for the middle class, leaving them with more disposable income.

This is expected to boost household consumption, savings, and investment.

3. Revised Income Tax Slabs & Rates
The new tax rates under the restructured system are:

₹0 - ₹4 lakh → Nil (No tax)

₹4 - ₹8 lakh → 5%

₹8 - ₹12 lakh → 10%

₹12 - ₹16 lakh → 15%

₹16 - ₹20 lakh → 20%

₹20 - ₹24 lakh → 25%

Above ₹24 lakh → 30%

Implications

Middle-class taxpayers benefit the most with a higher tax-free income limit.

The progressive tax structure ensures higher earners still contribute more.

Likely to increase savings and spending power, potentially driving economic growth.
Regards,
Niten Rana
(TaxMantra)

📲 8240947052 / 9874312650
✉️ [email protected]

WISHING YOU BEST OF LUCK

06/01/2025

Our Services

Individual - Partnership - Private Limited

We offer comprehensive services to cater to your business and individual financial needs.

Our Expertise Includes:

Income Tax Return

ESI-PF Registration & Return

GST Registration & Return

Udyam - MSME Registration

Digital Signature Certificate (DSC)

Trade License

FSSAI License

Business PAN Card

Legal Deed Drafting

Professional Tax Compliance

Trade Mark® Registration

Projected, Estimated, and CMA Reports

Loan and Allied Taxation Services

Why Choose TaxMantra?

We ensure seamless service delivery tailored to meet your specific needs, ensuring compliance with all legal and financial regulations.

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Contact Us

Niten Rana
📍 TaxMantra
📞 8240947052 / 9874312650
📧 [email protected]

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Wishing You the Best of Luck in Your Endeavors!

03/11/2024

03/11/2024

*―Our Services―*

Individual - Partnership - Private Limited

❀ INCOME TAX RETURN
❀ ESI-PF REGISTRATION- RETURN
❀ GST- REGISTRATION - RETURN
❀ UDYAM - MSME REGISTRATION
❀ DSC
❀ TRADE LICENSE
❀ FSSAI LICENSE
❀ BUSINESS PAN CARD
❀ LEGAL DEED DRAFTING
❀ PROFESSIONAL TAX
❀ TRADE MARK® REGISTRATION
❀ Projected, Estimated and CMA
❀ Loan and Allied Taxation services

Regards.
Niten Rana
( *TaxMantra* )
📲 8240947052/9874312650
✉️ [email protected]

𝐖𝐈𝐒𝐇𝐈𝐍𝐆 𝐘𝐎𝐔 𝐁𝐄𝐒𝐓 𝐎𝐅 𝐋𝐔𝐂K