Section 194-IB: Understanding the Essentials of Rental Income Tax Deduction
Welcome to the comprehensive guide on Section 194-IB, which is crucial for tenants who are paying a monthly rent exceeding 50,000. We will try to break down this section to…
Corporate Social Responsibility (CSR) Guidelines: A Comprehensive Overview
Corporate Social Responsibility (CSR) – a commitment by corporations to conduct their business in an ethical manner, contributing to economic development while improving the quality of life of the workforce,…
Know All About Tax on Dividend Income
Dividends are a form of income derived from investments in shares of companies or mutual funds. For those investing in such financial instruments, understanding the tax implications of dividend income…
All You Want to Know About HUF: Taxation, Formation, Benefits etc.
The concept of a Hindu Undivided Family (HUF) is not only a fundamental aspect of Hindu law but also a highly favored entity for income tax planning in India. At…
Detailed Guide to Minimum Alternative Tax Section 115JB
Understanding MAT Minimum Alternate Tax, commonly known as MAT, is meticulously designed to ensure that companies with large profits, as per their financial statements, contribute a fair share of taxes…
Capital Gains Account Scheme (CGAS) : A Detailed Guide
When selling assets like property or stocks, the profit earned constitutes what is known as a capital gain, which is taxable under the Indian Income Tax Act, 1961. However, to…
Understanding GST Section 15: Value of Taxable Supply
The Goods and Services Tax (GST), implemented in India on July 1, 2017, was a revolutionary change in the tax structure, intending to streamline and simplify the process of tax…
Consequences of Late or Non Filing of GSTR-3B
The Goods and Services Tax (GST) introduced in India in 2017 transformed the indirect taxation landscape, simplifying tax structures and increasing compliance. Among the various returns under GST, GSTR-3B holds…
Removal of Director section 169 of Companies Act: Procedure, Precautions etc.
In the complex structure of corporate governance, directors play a pivotal role in steering the company towards its goals. They are not just figureheads but are actively involved in the…
A Detailed Guide to LLP Annual Return Form 11: Due Date, How to file, Fees etc.
Limited Liability Partnerships (LLPs) have become a preferred form of organization among entrepreneurs due to their flexibility and the limited liability protection they offer to the partners involved. Just like…
GST Registration can take upto 30 days even after Aadhar Authentication
Understanding the Impact of New GST Registration Protocol on Indian Entrepreneurs The Goods and Services Tax Network (GSTN) has been at the core of India’s ambitious tax reform since its…
OIDAR under GST: Detailed Explanatory Guide
Introduction to OIDAR Services under GST Online Information Database Access and Retrieval (OIDAR) services represent a modern category of digital transactions significantly impacted by GST regulations. Understanding OIDAR is essential…