• What Happens If You Don’t File Your ITR?

    According to the Income Tax Act, filing your Income Tax Return (ITR) within the due date is mandatory. If you fail to do so, you may face heavy penalties and difficulties in securing loans, visa approvals, and more. On the other hand, timely filing brings multiple benefits. Let’s look at why filing ITR is important…

  • Stamp Duty & Registration Charges in Tamil Nadu 2025

    Stamp duty is an essential part of property transactions. It varies across different states in India and is applicable to all types of deeds or instruments of transfer, including conveyance deeds, gift deeds, and sale agreements. This article covers: What is Stamp Duty in Tamil Nadu? Anyone involved in a property deal in Tamil Nadu…

  • Goods and Services Tax: Understanding GST in India – Indirect Tax Law

    What is GST in India? GST, or Goods and Services Tax, is an indirect tax that replaced several earlier indirect taxes in India, such as excise duty, VAT, and service tax. The Goods and Services Tax Act was approved by Parliament on 29th March 2017 and implemented nationwide on 1st July 2017. In simple terms,…

  • Section 73 of the CGST Act: Applicability, Time Limit, and Penalty

    Since the rollout of GST in India, Section 73 of the CGST Act has been applied to determine GST demands in genuine cases where there is no fraudulent intent. However, based on the recommendations of the 53rd GST Council meeting, the FY 2024–25 Budget has introduced key changes. This article explains the amendments to Section…

  • Name Change Online India – Apply, Process, and Fees

    People may wish to change their names for several personal, professional, or cultural reasons. Since a name is a key part of one’s identity and appears on important documents such as mark sheets, voter IDs, and driving licenses, the process must be carried out legally. Below is a complete guide on how to apply for…

  • GST vs Income Tax: Understanding the Difference Between GST and ITR Filing

    For every taxpayer in India, it is important to know how the tax system works and the correct way to file both direct and indirect taxes. Having a clear understanding of these two types of taxes makes it easier for individuals and small businesses to manage compliance. It also ensures timely filing and payment, helping…

  • Section 115H of Income Tax Act: Benefits & Provisions

    Under the provisions of the Income Tax Act, 1961, an individual can have one of three residential statuses — Resident, Non-Resident Indian (NRI), or Resident but Not Ordinarily Resident (RNOR). Residential status is determined based on the number of days a person stays in India during a financial year. However, this status is not fixed…

  • Section 37 of Income Tax Act: List of Expenses Allowed & Disallowed as Deduction from Business Income

    In India, the government offers certain tax deductions to businesses to promote growth. These deductions apply only to specific expenses outlined under Section 37 of Income Tax Act. To file returns correctly and make the most of these benefits, businesses must clearly understand which expenses are allowed. What is Section 37 of Income Tax Act?…

  • Renewal of 12A and 80G Registration

    In India, charitable trusts, societies, and NGOs can get tax benefits and help their donors claim deductions by registering under Sections 12A and 80G of the Income Tax Act, 1961. Earlier, these registrations were valid for a lifetime. But from the Finance Act, 2020, both must be renewed every five years to keep the benefits.…

  • Get Your PAN Card in 48 Hours – Simple Guide to Expedited PAN Issuance

    A PAN (Permanent Account Number) card is an essential identification document for both individuals and businesses in India, used for financial transactions and meeting income tax requirements. Generally, it takes up to 15 days to process a PAN application, but an express service is available to get it issued in as little as 48 hours.…

  • Process for PAN Card Application for NRIs

    For Non-Resident Indians (NRIs), a PAN card is more than a formal requirement—it plays a key role in managing finances and making investments in India. It helps maintain tax compliance and enables smoother investment processes, making it an important part of your financial dealings in the country. Why a PAN Card is Important for NRIs…

  • Merchant Navy Workers Taxation in India

    Seafarers, Merchant Navy Workers Taxation In India – Services In All Major Cities In India i.e. Delhi NCR, Mumbai, Kolkata, Chennai, Kerala, Hyderabad, Bangalore, Gujarat, Punjab, UP, Other Cities What is Taxation of Seafarer or Merchant Navy Worker? Resident & Ordinary Resident (ROR) Seafarer – Global Income May Be Taxable in India Like any other…

  • Seafarer/Merchant Navy Officer Income Tax Filing

    A seafarer is a professional engaged in working aboard watercraft such as ships, typically responsible for navigation, operations, or maintenance under a contractual arrangement. How Is Income Tax Filing Different for Seafarers in India?  The taxation of seafarers in India, like any other individual, is determined by their residential status under the Income Tax Act,…

  • Auditing Requirements of Private Limited Company

    Once a private limited company is incorporated, it must adhere to several compliance obligations under the Companies Act, 2013. One such essential requirement is the conduct of an audit, which is mandatory regardless of the company’s turnover or business activity. An audit involves the examination of a company’s financial records to verify their accuracy. The…

  • Understanding Form 15CB and CA Assistance 

    What is Form 15CB? Form 15CB is a certificate issued by a Chartered Accountant (CA) when a person makes payments over ₹5 Lakh in a financial year to a Non-Resident (excluding companies) or a Foreign Company that are subject to income tax, and no certificate under Section 195/197 has been obtained from the Assessing Officer.…

  • DTAA Made Simple: How NRIs Can Claim Tax Relief and Avoid Paying Tax Twice

    DTAA Made Simple: How NRIs Can Claim Tax Relief and Avoid Paying Tax Twice An individual’s residential status plays a vital role in determining how their income will be taxed in India during a financial year. It’s quite common for Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) to carefully plan the number of…

  • Receiving ESOPs as Part of Your Salary?

    ESOPs are becoming increasingly popular in India, especially as more multinational companies include them in employee compensation packages. An Employee Stock Option Plan (ESOP) is a type of employee benefit program that provides workers with a stake in the company through equity shares. These plans are similar to profit-sharing schemes. Under an ESOP, the employer…

  • RSU vs ESOP Taxation: Key Differences and Which One May Be Better for You

    Employers frequently offer various benefits to retain existing employees and attract new talent. Among these incentives, equity-based compensation—granted in the form of company shares—is quite common. These shares are typically offered as either RSUs or ESOPs. For salaried professionals, understanding these options is essential to maximize their potential value. What is an ESOP? An Employee…

  • Discrepancies in Your Income Tax Return? Know the Consequences

    If there’s a mismatch or mistake in your Income Tax Return, the Income Tax Department may send you a notice under certain sections of the Income Tax Act. This notice can come by email or post, and it’s important to respond quickly to avoid fines or further checks. These notices can be about things like:…

  • First Time Filing ITR? 10 Easy Tips to File Your Income Tax Return Without Hassle

    Filing your Income Tax Return (ITR) for the first time may feel confusing, especially if you don’t know how it works. The first step is to choose the right ITR form based on how you earn your income. This helps you file your return correctly and follow all rules. For the Assessment Year 2025-26, it’s…

  • Key Advantages of Regular GST Return Filing

    If you run a business registered under GST in India, you must file GST returns regularly. These returns show your sales, purchases, and the tax you need to pay during a specific time. Filing GST returns has many benefits for your business. No Late Fees or Fines Filing GST returns on time helps you avoid…

  • ROC Filing in India: What It Is & Why It’s So Important

    ROC filing means sending important company documents and returns to the Registrar of Companies (ROC). All companies registered in India must do this every year, as required by the Ministry of Corporate Affairs (MCA). If a company does not file on time, it can face heavy fines and legal trouble. That’s why it is important…

  • The Importance of Online Bookkeeping for Today’s Businesses

    Businesses are changing quickly with the help of new technology. They want to work smarter, save time, and cut costs. One way they’re doing this is by using online bookkeeping instead of the old paper methods. Many businesses now use online bookkeeping services to manage their accounts. Bookkeeping is important because it helps keep track…

  • Top Ways a Tax Consultant Helps Your Business Save Money

    In today’s competitive and rule-heavy business world, having the right financial and advisory support is very important. Managing taxes while trying to grow your business can be a big challenge, no matter the size of your company. This is where a tax consultant in Jaipur becomes helpful. They do more than just help with tax…

  • Understanding Income Tax Audit: Rules, Limits & Categories

    A tax audit means checking your financial records to make sure everything is correct and follows the tax rules. Under Section 44AB of the Income Tax Act, if your business turnover or professional income is above a certain limit, you must get a tax audit done. This helps ensure your books are accurate and that…

  • Understanding Overseas Direct Investment (ODI)

    As India’s economy grows, many Indian companies are looking to expand their business in other countries. These international investments are regulated by the Foreign Exchange Management Act (FEMA). One important part of FEMA is the Overseas Direct Investment (ODI) rules, which allow Indian individuals and businesses to invest in foreign companies. In this article, we’ll…