Are you Ready for Annual Closing from GST Perspective ? As we all know that this is the time for filing annual returns under GST, But before filing those returns we need to ready our self with perfect data and returns. For that purpose, We are coming with a live …
This article is in series of my blogs on 5S implementation in Indian context. Incase concept of 5S is new for you, please refer my others posts on 5S. Today I am going to discuss about 5S in government offices. One may rightly think that 5S is industry related concept, …
Definition and Basic concepts: Explanation 2 of Sec 28 of income tax act, 1961 says that a contract for purchase or sale of any commodity, stocks or shares is periodically or ultimately settled, otherwise than by actual delivery covers under speculative business. One of the best example for speculative business …
Merchant Exports under GST A merchant exporter is a person or company that engages in the activity of exporting goods and services. They do not have a manufacturing unit, but instead buy goods from manufacturers and then sell them to foreign customers. Merchant exporters play an important role in the …
March 2023 Introduction: Welcome to the first issue of TDS Insider, your guide to understanding tax deducted at source (TDS). In this issue, we’ll be exploring what TDS is, how it works, and why it’s important. So whether you’re a business owner or a freelancer, read on to learn more …
25th March, 2023 Introduction: TDS on salary is a critical aspect of the Indian taxation system that employees and employers need to understand. It is a tax deduction at source (TDS) mechanism that enables the government to collect taxes from salaried individuals as they earn their income throughout the year …
Introduction: As a responsible citizen, you must pay taxes. However, no one wants to pay more than they have to. It is fortunate that there is a variety of tax-saving options available that are designed to help you reduce your tax burden and keep more of your earnings. In this …
Sec 80GG – Deduction in respect of rent paid This section has been introduced to provide relief to those individuals who do not receive any HRA but are paying rent for the stay. Thus, an individual (i.e. Deduction not available to any other taxpayer) can claim a deduction for rent …
Sec 80EEB – Deduction in respect of purchase of electric vehicle. To promote the use of Electric vehicles in India, the government come up with new section to give tax relief to EV buyers. Eligible Assessee An Individual who has taken a loan for purchase of E-Vehicle from any Financial …
To promote the higher education in India, the Government of India desired to provide a tax deduction on the interest component of higher education loans. However, the deduction is provided only for the interest part of the EMI. There is no tax benefit for the principal part of the EMI …
