In the world of taxes, simplicity is often a treasure. For small businesses and taxpayers, Presumptive Taxation Scheme under Section 44ADA brings a breath of fresh air, making the tax process much more straightforward. This blog explores the concept of presumptive taxation, focusing on how it eases the burden for small-scale entrepreneurs. Let’s get to know…
For the Non-resident individuals, and foreign entities, who are performing in India. It is a complex process for them to fulfil their tax obligations such as filing online GST, to file Income tax Returns (ITR), along with filing form 10F. The Form 10F plays a significant role as it makes the process efficient and allows…
Double taxation is the term used for taxing the same income twice, which raises the total amount owed in taxes. Depending on whether this taxing process is carried out legally or economically, different people or businesses will be affected. The primary aim of Double taxation relief mechanism is to facilitate and enhance economic trade and…
The majority of general public who are taxpayers look forward to receiving their tax refunds on the way to put them to right use, inclusive of investing in an excellent plan or equities with excessive returns. Spending the tax refund on random costs is a decent use of the cash, however the use of it…
The globalized world we live in has facilitated cross-border mobility and financial transactions like never before. Non-Resident Indians (NRIs) play a significant role in this landscape, contributing to both their home country’s economy and the economies of their chosen foreign destinations. However, the complicated web of taxation can often be a cause of confusion for…
In the hustle and bustle of our daily lives, taking a break to unwind and recharge has become more important than ever. Recognizing the significance of work-life balance, many companies offer Leave Travel Concession (LTC) as a part of their employees’ compensation packages. Leave Travel Allowance not only supports employees’ travel aspirations but also comes…
In our blog, we will unravel the basics of TDS deduction rules in India. Tax Deducted at Source, or TDS, is a process where a part of your earnings is deducted upfront as tax. It’s like a way of paying taxes as you earn. In this blog, we’ll break down this concept in simple terms,…
Welcome to our insightful blog that delves into the vital topic of “Eligibility to Claim Input Tax Credit under GST.” In the landscape of taxation, understanding input tax credit (ITC) eligibility is paramount for businesses seeking to optimize their financial operations. This comprehensive guide will unravel the nuances of ITC, shedding light on the criteria…
Invoice matching under the Goods and Services Tax (GST) system is a crucial process that ensures accurate tax reporting and compliance. In this process, businesses are required to match the invoices issued by suppliers with the invoices reported by their recipients to the GSTN. This matching helps identify discrepancies, errors, or potential tax evasion, promoting…
In the realm of taxation, the Goods and Services Tax (GST) has revolutionized the way goods and services are taxed. Designed to create a unified tax structure, GST has brought about significant changes in various sectors, including small traders and agriculturists. This blog post aims to shed light on the GST exemption for agriculture & small…