Hurdles with Hindu Undivided Family Dissolution: The Hindu Undivided Family (HUF) is a recognized legal entity under the Income-tax Act, 1961. It is treated as a separate ‘person’ for tax… Read More
MSME-Buyer fails to make payment in 45 days MSME APPLICABILITY CRITERIA All manufacturing, service industries, wholesale, and retail traders that fulfil the revised MSME classification criteria of annual turnover and… Read More
What are the tax implications of online gaming? Introduction: In this article we are giving a clear overview of the taxability of online winnings before the introduction of specific sections… Read More
How you're taxed when you are: The resident person on a foreign temporary assignment: Rohit worked for four months out of Singapore on a temporary assignment and received during that… Read More
Key Differences Between New & Old Tax Regimes (FY 2024–25) Particulars New Tax Regime Old Tax Regime Rebate u/s 87A INR 7,00,000 INR 5,00,000 STCG (Section 111A) Rebate Not Available… Read More
Presumptive Taxation Scheme for Business Section 44AD of Income Tax Act Section 44AD of the Income Tax Act provides for a presumptive taxation scheme for businesses. This scheme offers a… Read More
GST Statutory Compliance Due date for the April 2024 Read More
How to do a company analysis in less five minutes: Examine the following ratios: Efficiency Ratios • Inventory Turnover: Cost of Goods Sold ÷ Inventory Measures how many times a… Read More
How to calculate the late fees under Goods and Services tax law for GSTR-9 To calculate the late fees under Goods and Services tax law for GSTR-9 for the FY… Read More
Compliance Checklist to be done at year-end closing on 31st March The company must ensure that the appropriate TDS, GST, ESI and PF has been taken and paid. Checking Closing… Read More