With more and more food business operators coming in the food industry, the Food Safety and Standard Authority of India under the Ministry of Health & Welfare is ensuring food safety in the country. They help the government in bringing regulations in the food business industry. If someone wants to start a food business in…

Stock Market trading has got a different niche in India. Stock Trading is not only a game of sheer luck however, it takes lot of rise and falls and experience to achieve a comfortable status in this trade. Now, while trading in securities one can choose to retain the securities for a year or even…

If you are thinking to start a finance business, Nidhi Company is one of the ways to proceed with. Nidhi Company is a mutual benefit company dealing with shareholder members and registered under section 406 of the Companies Act, 2013. Nidhi Company is incorporated with the main objective of cultivating the habit of saving. There…

Income Tax Return is a legit financial document. All persons whose Total Income exceeds more than the maximum limit not liable to tax as per Income Slabs are obligated to file the return. Even if your income does not exceed the taxable limit, one should file a return as it is asked for various other…

There are 5 heads of income under which income is computed and tax is levied thereon as per applicable provision. These 5 heads of income are salaries, House Property, PGBP, Capital Gains and Other Sources. Today we will discuss a part of Income taxable under the head Capital Gains. Under this head, Gains arising on…

India is a country with many festivals and occasions, there are many instances where gifts are exchanged to show the love and respect towards near and dear ones. Sometimes gifts are given just to hide certain exchanges in the garb of gifts and avoid tax implications on such transactions. Provisions were introduced in Income Tax…

The Finance Act 2021 has introduced a new section which has come into effect from 01.07.2021. Being a TDS Section, it focusses on the buyer who is required to pay for the purchase of goods if the aggregate value of the goods exceeds Rs 50 lacs in a financial year, to deduct TDS at the…

We all as responsible taxpayers try to file our returns properly but sometimes we may miss any information or commit any error due to which our return gets defective and the Income Tax Department issues a notice in lieu of the return for correction of errors. The Income Tax Portal has been improved a lot…

In order to curb the money laundering and black money practices being increasingly witnessed in our country, there were recent changes in the Income Tax Act regarding cash transactions to prevent such malpractices. Every assessee should declare his/her income in the Income Tax Return in a transparent manner in order to avoid any notices, scrutiny…

Goods and Service Tax Network (GSTN) introduced and established the web platform called GST Suvidha Provider (GSP) to help the taxpayers to comply with the provisions of GST. In simple words, GST Suvidha Provider helps various companies to file GST returns and streamline the data for greater comfort and security for registration, uploading forms, invoicing,…

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