Udyam Registration Certificate
The Ministry of Micro, Small and Medium Enterprises (MSME) in India grants a digital certificate called the Udyam Registration Certificate to officially recognized MSMEs. This certificate, also referred to as…
Section 17(5) of the CGST Act – Blocked Input Tax Credit
Section 17(5) of the CGST Act, commonly known as the "blocked credit" provision, is a crucial clause for every regular GST-registered taxpayer. It outlines specific transactions where GST is paid,…
Documents Needed for GST Registration
Any individual involved in the taxable supply of goods or services within a state, with an annual turnover exceeding Rs 20 lakh (Rs 40 lakh or Rs 10 lakh depending…
NRI Taxation and Residency Criteria Under the Income Tax Act
An individual of Indian origin residing outside India is referred to as a Non-Resident Indian (NRI). The Income Tax Act of 1961 outlines separate tax provisions for Indian residents and…
Income Tax Notice to Salaried Employees: Reasons, Types & How to Respond
Are you a salaried employee who filed your Income Tax Return (ITR) on time but still received a notice from the Income Tax Department? Don’t worry—it’s more common than you…
What is Tax Deducted at Source (TDS)?
Tax Deducted at Source (TDS) is a tax collection mechanism introduced by the Indian government where tax is deducted at the very source of income. It ensures that tax is…
GST on Gold: Updated GST Rates for Gold, Jewellery, Coins, Bars, and Digital Gold
The introduction of Goods and Services Tax (GST) brought notable changes to the taxation structure of gold in India. Currently, a 3% GST is levied on both 24-carat and 22-carat…
How to File ITR Online: A Step-by-Step Guide to E-File Your Income Tax Return for FY 2024-25 (AY 2025-26)
An Income Tax Return (ITR) is a form that allows a taxpayer to report their income, expenses, tax deductions, investments, and taxes. According to the Income-tax Act of 1961, it…
Budget 2025: Date, Time, and How to Watch the Live Broadcast
The Union Budget is presented every year on February 1st by Finance Minister Nirmala Sitharaman. This will be her eighth budget presentation and the second budget of the Modi government’s…
What is House Rent Allowance: HRA Exemption, Tax Deduction, Rules & Regulations
House Rent Allowance (HRA) is an important component of an individual’s salary package. It serves as a valuable benefit offered by employers to help cover a part of an employee’s…