The objective of SEZ was to attract foreign investors by giving tax breaks and single window clearance etc. However, this policy only applied through various amendments in different laws and executive orders and was in a dire need of a robust framework as the policy was not nearly as good as China’s SEZ framework. It…
Tax is generally levied on the profit margin only. In general, tax is not levied on any reimbursement expense or cost. Reimbursement is the amount paid to either a customer or an employee for a business expense, taxes, insurance, or other costs. Expense reimbursements consist of out-of-pocket expenses, such as those for food and travel,…
GST has introduced five years ago. Ever since there was seen an effective change in the system of taxation. With the introduction of GST, a new tax regime was inaugurated which bought a lot of difficulty and challenges for the citizens in understanding its concept and also in finding the appropriate forum in which people…
Compliance is simply conforming to the laws and regulations issued by various legal entities. It might be difficult at times to obey each law and act in line with it, but neglecting to do so can result in the loss of various opportunities. Simple examples of compliance include obtaining a local business license and paying…
This blog is for you if you are new to freelancing and want to know what your tax obligations are as a freelancer. Consider it your go-to resource for freelance taxation. This article outlines the procedures you should take to avoid fines and taxes levied on freelancers in India. In accordance with the income tax…
The employer is expected to follow a broad list of Labour laws, which includes keeping registers in accordance with numerous Labour Laws. The Labour regulations required the maintenance of about 56 registers and records, which made it an extremely difficult duty for the employer and resulted in the penalty of non-compliance. This article discusses the…
To conduct business activities, Union Territory Jammu is a very suitable alternative for forming a private limited company in Jammu. Private limited companies are registered under the MCA in Jammu. In Jammu, a private limited company is a company that is owned by private shareholders or stakeholders and in which the obligations of the members or…
Like any industry, investing has its own language. And one term that people often use is “investment portfolio,” which refers to all of your invested assets. Building an investment portfolio can seem intimidating, but there are steps you can take to make the process painless. No matter how much you want to get involved in…
To pay your taxes and submit your returns on time, you must carefully prepare your strategy. You must face severe fines if you disregard the tax laws and miss the deadlines for filing and paying your taxes. The penalties are computed as interest on the amount of your unpaid taxes in accordance with Section 234…
The amendment for the new process for physical verification of companies was recently introduced. Since this Act is so complex in itself it will create confusion in the minds of the people and people afraid of establishing their company due to the intricacies involved in it. This article gives an emphasis on understanding the new…