Gå ubegrenset med Magzter GOLD
Få ubegrenset tilgang til over 9000 magasiner, aviser og premiumhistorier for bare
Prøve GULL - Gratis
Instant tax credit: An idea whose time has come
Business Standard
|March 10, 2025
Imagine paying for a movie on an OTT (over the top) platform but being told you must wait a day before watching it—just so the bank can confirm the payment.
Such a platform wouldn't survive. Instant access to online payments is now the norm. But when it comes to taxes, businesses still struggle with getting instant confirmation. This creates inefficiencies that weigh them down.
Take my friend Amarjeet, who runs a startup selling digital tools to businesses. For transactions under ₹30,000, the process is seamless. Buyers pay online and instantly download the tools. However, for amounts exceeding ₹30,000, buyers must deduct tax at source (TDS) before making payments. Since there is no provision for buyers to pay TDS online at the time of payment, they connect offline. Amarjeet gets the net amount and lets buyers download the tools. He trusts them to pay the deducted TDS by the due date.
This delay causes significant challenges. If a buyer fails to deposit the TDS or file their TDS return, Amarjeet doesn't receive credit for the tax deducted.
Denne historien er fra March 10, 2025-utgaven av Business Standard.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Business Standard
Business Standard
Nomura predicts Nifty at 29,300 by 2026-end
Nomura expects benchmark Nifty 50 to climb to 29,300 by end of 2026, about 12 per cent above current levels, as cyclical economic momentum and earnings growth regain traction under supportive policies, its analyst Saion Mukherjee said.
1 min
December 03, 2025
Business Standard
Benchmarks fall for third straight day
Benchmarks fell for a third consecutive session on Tuesday as concerns over foreign outflows and the rupee falling to a record low fuelled profit booking.
1 min
December 03, 2025
Business Standard
Flag pending deregulation issues, Cabinet Secretariat tells states
The Cabinet Secretariat has asked state governments to flag any pending issues they face with central government departments in connection with its ongoing deregulation exercise, multiple senior government officials said, ahead of a meeting of chief secretaries later this month to review the reforms.
4 mins
December 03, 2025
Business Standard
Loan growth, profitability ahead for public-sector banks
The Indian banking sector could be due for a rise in profitability after several quarters of net interest margin or NIM compression. The Q2FY26 results suggest NIMs have bottomed out. Credit costs could also fall given moderating stress in unsecured retail and microfinance institutions or MFIs.
3 mins
December 03, 2025
Business Standard
Bank of Maha OFS subscribed 3x
The offer-for-sale (OFS) in Bank of Maharashtra (BOM) saw three times demand than the shares on offer.
1 min
December 03, 2025
Business Standard
Sanchar Saathi can be deleted, says govt; OEMs still reluctant
Apple, other global firms not on board; India's Lava to comply
4 mins
December 03, 2025
Business Standard
In AI race, Apple Inc hands baton to B'luru graduate Amar Subramanya
Apple has appointed Amar Subramanya, a Bengaluru-born AI researcher and engineer with deep roots in both Google and Microsoft, as its new vice-president of artificial intelligence (AI), a move signalling the tech giant's push to catch up in the fast-evolving AI landscape.
1 min
December 03, 2025
Business Standard
India's trade crossroads: Navigating global headwinds with domestic resilience
India's trade report for October this year is a reminder that even fast-growing economies face external shocks that test both resilience and vulnerability. The month delivered a record trade deficit in merchandise of $41.7 billion, driven by a 200 per cent surge in gold imports and a steep 37.5 per cent drop in exports to the United States (US) after tariffs jumped from 10 per cent to 50 per cent in six months.
4 mins
December 03, 2025
Business Standard
6,385 recognised startups categorised as 'closed' as of Oct 31
As many as 6,385 recognised startups have been categorised as 'closed' as of October 31, according to the data from the Ministry of Corporate Affairs, Parliament was informed on Tuesday.
1 min
December 03, 2025
Business Standard
US-China: The end of engagement
The current trade war between the United States and China under the second Trump presidency has sent the bilateral and global order into a whirlwind.
3 mins
December 03, 2025
Listen
Translate
Change font size