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…
A tonnage tax is a taxation mechanism that can be applied to shipping companies. In this method, the tax is determined by the net tonnage of the entire line of operating vehicles or use by a company. Tonnage tax is not a tax but somewhat a method for ascertaining taxable income. Using this scheme, the taxable income is computed…
Table of Content Meaning of Interim Dividend Features of Interim Dividend Sources of distribution of Interim Dividend Difference between Interim Dividend and Final Dividend Procedure of declaration and payment of Interim Dividend Wrapping up Meaning of Interim Dividend As per Secretarial Standards issued by the Institute of Company Secretaries of India, the term “Interim Dividend”…
Depreciation means a reduction in the real value of tangible used by the assessee in the course of business or profession. Depreciation can be claimed as a deduction by the assessee for investing in assets like furniture, plant & machinery or other such tangible assets, for the previous year. The concept of depreciation was introduced…
Table of Content Introduction Types of Compliances for Companies under Companies Act, 2013 Advantages of Post Incorporation compliances of a Company Mandatory post incorporation compliances under Companies Act, 2013 Annual Compliances under Companies Act, 2013 Conclusion Introduction Simply incorporating a company and starting a business is not sufficient. Obtaining an incorporation certificate is just the…
In this article we will came to know about Drop-shipping Business with the applicability of GST thereon. These days, this business is emerging rapidly because of its no stock requirement which leads no any investment requirement and also no risk of dead stock. What is Dropshipping Business? Dropshipping is a kind of business in which…
Notices from the tax department induce anxiety in the mind of taxpayers. Here the article is with some of the reasons for receiving such notices, precautions to avoid such cases and the procedure that has to be followed when any notice from the GST department is received by any taxpayer regarding payment of any Penalty,…
The demand for content creators and bloggers is on the rise with the growth of social media demand. Blogging profession is popular among the young generation not only due to the platform it offers for self-expression but also because it is very fruitful. The income earned by a blogger is subject to tax provisions under…