Additional Depreciation Under the Income Tax Act
Under the Income Tax Act, depreciation is allowed as a deductible expense for computing taxable income. Depreciation can be calculated using two methods: the Written Down Value (WDV) method and…
Under the Income Tax Act, depreciation is allowed as a deductible expense for computing taxable income. Depreciation can be calculated using two methods: the Written Down Value (WDV) method and…
Section 112A deals with the taxation of long-term capital gains (LTCG) arising from the sale of listed equity shares, equity-oriented mutual funds, and units of business trusts. From 23rd July…
If you have lost or forgotten your Permanent Account Number (PAN), there are multiple safe and quick methods to recover it. Below is a summary of both online and offline…
The introduction of GST has transformed the way exports are handled in India by creating a more transparent and simplified tax structure. Under GST, exports are categorized as zero-rated supplies,…
The GST framework for old and refurbished cars has been streamlined, bringing more clarity and ease for both dealers and buyers. Following the 55th GST Council meeting, a uniform 18%…
Section 17(5) of the CGST Act, commonly known as blocked credit or ineligible input tax credit (ITC), is an important provision as it directly affects GST cash payments and working…
Staying updated with GST news is crucial for every business to ensure timely and full compliance. Here, we bring you the latest developments from the CBIC, GST Council, and GSTN…
Earning revenue is the primary objective of every business. There are different ways to achieve this, and to keep track of performance, businesses generally prepare two major financial statements: the…
India’s total debt has become a key economic indicator, reflecting how effectively the nation handles its financial responsibilities. As of early 2025, the country’s total debt is estimated at around…
Under GST, the event of Supply is treated as the basis for charging tax. The tax liability arises at the time of supply of goods or services. Therefore, identifying whether…