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MSME Certificate Updating requirement

The Micro, Small and Medium Enterprises Development Act (MSMED), 2006 was enacted to support the creation and development of MSMEs. In the Union Budget 2025, Finance Minister Nirmala Sitharaman announced a major update to the New MSME classification, increasing the investment limit by 2.5 times and doubling the turnover limits. The revised MSME criteria comes into effect from April 1, 2025. It is a mandatory requirement to keep the MSME Certificate Updated every year. Under the Udyam Registration system, MSME units are expected to update their details regularly, particularly because of the revised classification norms. ...

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Due date of Form 10BD / Form 10BE is 31st May 2025

One of the compliances to be made by a charitable organisation or an institution such as trust, research institutions, colleges, universities or other institutions is to file Form 10BD and issue a Form 10BE certificate to the Donor. CBDT issued a Notification no. 19/2021 dated 26th March 2021 prescribing a Form 10BD to be filed by institutions providing specific details of the donations made by the donors. After filing a statement of donations in Form 10BD, the institution has to download the certificate in Form 10BE certificate of donation and provide the same to the donors. The due date for...

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Due date for filing of Form 61A for Reporting Year 2024-25 is 31st May 2025

Section 285BA of the Income-tax Act, 1961 and Rule 114E requires specified reporting persons to furnish statement of financial transaction. Below is the list of the reportable transactions: • Receipt from any person of an amount aggregating to 10 lakh rupees or more in a financial year for acquiring bonds or debentures issued by the company or institution (other than the amount received on account of renewal of the bond or debenture issued by that company). • Receipt from any person of an amount aggregating to 10 lakh rupees or more in a financial year for acquiring shares (including share...

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IEC Updating requirement – Notification 58/2015-2020

Please note that the DGFT has issued a notification with respect to ‘requirement for renewal of IEC’ each year. Accordingly, An IEC holder has to ensure that the details in its IEC is updated electronically every year, during April-June period. In cases where there are no changes in IEC details, the same need to be confirmed by the IEC holder online. ...

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Last date for payment of the Professional Tax Annual Fee and filing of the Return is 30th April 2025

This is to bring to your kind attention that 30th April 2025 is the last date for payment of the Professional Tax Annual Fee and filing of the Return. All GST registered employers are required to pay Rs. 2,500/- per unit towards Professional Tax on or before the due date. Timely compliance will help avoid penalties and ensure smooth statutory adherence. For any clarifications, please contact Ms. Gayathri Giri at 9008718388 or email her at gayathri@vdindus.com. We will be happy to assist you....

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Last date for payment of the Professional Tax Annual Fee and filing of the Return is 30th April 2025

This is to bring to your kind attention that 30th April 2025 is the last date for payment of the Professional Tax Annual Fee and filing of the Return. All GST registered employers are required to pay Rs. 2,500/- per unit towards Professional Tax on or before the due date. Timely compliance will help avoid penalties and ensure smooth statutory adherence. For any clarifications, please contact Ms. Gayathri Giri at 9008718388 or email her at gayathri@vdindus.com. We will be happy to assist you....

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Last date for payment of the Professional Tax Annual Fee and filing of the Return is 30th April 2025

This is to bring to your kind attention that 30th April 2025 is the last date for payment of the Professional Tax Annual Fee and filing of the Return. All GST registered employers are required to pay Rs. 2,500/- per unit towards Professional Tax on or before the due date. Timely compliance will help avoid penalties and ensure smooth statutory adherence. For any clarifications, please contact Ms. Gayathri Giri at 9008718388 or email her at gayathri@vdindus.com. We will be happy to assist you....

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Revised Classification Limits for MSME Sector

The Micro, Small and Medium Enterprises Development Act (MSMED), 2006 was enacted to support the creation and development of MSMEs. In the Union Budget 2025, Finance Minister Nirmala Sitharaman announced a major update to the New MSME classification, increasing the investment limit by 2.5 times and doubling the turnover limits. The revised MSME criteria comes into effect from April 1, 2025. In light of this revised MSME classification thresholds, companies and businesses engaged in transactions with MSMEs must be particularly mindful of the updated limits. This is crucial due to the provisions of Section 43B(h) of the Income Tax Act, 1961,...

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