F&O Taxation in India: An All-Inclusive Guide for Traders
Futures and Options (F&O) traders have long been subject to tax audits when their turnover exceeded ₹10 crores, mainly due to the previous calculation method. This formula factored in option…
Taxation on ESOP RSU Stock Options
Employee Stock Ownership Plans (ESOPs) are gaining significant traction in India. These plans, widely offered by domestic and international companies, provide employees an opportunity to own a stake in the…
Tax Planning Strategies for Wealthy Individuals
Tax-Saving Strategies for High-Net-Worth Individuals in India When it comes to protecting wealth, effective tax planning is essential, particularly for high-net-worth individuals (HNIs) in India. By staying informed about the…
GST Registration for Small Businesses: New Guidelines & How GST Affects Small Businesses
The Goods and Services Tax (GST) has revolutionized the tax landscape for small businesses in India by replacing the previous complex system of taxes with a unified, simplified approach. GST…
Financial strategies for non-profit organizations to consider
For any organization, financial stability is vital to long-term success. This applies equally to profit-oriented businesses and non-profits, where maintaining a balanced budget is essential. While profit-based entities focus on…
ITR Filing: Tax exemptions and deductions available for senior citizens
The income tax filing period for the financial year has begun, and senior citizens enjoy several tax benefits under Indian tax laws. To qualify as a senior citizen for tax…
How to File Income Tax Return as a Freelancer
India ranks as one of the fastest-growing freelance markets in the world. Freelancing in the country is becoming increasingly rewarding due to supportive tax regulations and opportunities for financial savings.…
Understanding Taxation on E-Commerce Transactions under Income Tax and GST
E-commerce transactions are subject to various tax regulations under both Income Tax and GST. To prevent tax evasion and ensure proper tax compliance, the government has introduced new sections in…
ITR-U: Understanding the ITR-U Form and How to File It
The ITR-U (Updated Income Tax Return) form was introduced by the Indian government in the Union Budget 2022, enabling taxpayers to update previously filed ITRs. This allows corrections for errors…
Understanding GST Payments and Refunds
In the GST filing process, businesses need to file GSTR-1 monthly to report sales, followed by GSTR-3B to report input tax credits (ITC) and make GST payments. When applicable, refunds…