Debit Note vs Credit Note: Key Differences
Debit Note vs Credit Note: Key Differences Businesses use debit and credit notes as formal accounting documents to manage purchase returns and sales returns. These notes indicate to the buyer…
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Section 80EEA – Additional Deduction on Home Loan Interest for Affordable Housing
Section 80EEA – Additional Deduction on Home Loan Interest for Affordable Housing Overview: Section 80EEA provides an extra deduction of up to Rs. 1.5 lakh per year on home loan…
Section 43B(h) of the Income Tax Act: Applicability, Due Date, Limit & Example
Section 43B(h) of the Income Tax Act: Applicability, Due Date, Limit & Example Section 43B(h) provides that any amount payable to Micro and Small Enterprises (MSEs) for goods supplied or…
Section 36 of the Income Tax Act: Deductions for Business Expenses
Section 36 of the Income Tax Act: Deductions for Business Expenses The Income Tax Act, 1961 provides several deductions to help taxpayers reduce their tax burden. Section 36 lists specific…
Form DPT-3: Applicability, Purpose, Due Date & Penalty
Form DPT-3: Applicability, Purpose, Due Date & Penalty Form DPT-3 is a mandatory return of deposits that companies must submit, providing details of deposits as well as any outstanding loans…
Limited Liability Partnership (LLP) Registration in India
Limited Liability Partnership (LLP) Registration in India A Limited Liability Partnership (LLP) has emerged as a popular business structure for entrepreneurs in India, offering the combined advantages of a traditional…
Understanding Section 45 of the Income Tax Act
Understanding Section 45 of the Income Tax Act Section 45 of the Income-tax Act, 1961, serves as the primary provision for taxing capital gains. It specifies when capital gains become…
Section 115BAC New Tax Regime 2025: Slabs, Deductions, Exemptions & Benefits
Section 115BAC New Tax Regime 2025: Slabs, Deductions, Exemptions & Benefits Section 115BAC of the Income Tax Act introduces the new tax regime, featuring lower tax slab rates in return…
Section 80TTB Deduction for Senior Citizens
Section 80TTB Deduction for Senior Citizens Section 80TTB is a tax benefit introduced to reduce the financial pressure on senior citizens. Since many elderly individuals rely heavily on interest earnings…
What is e-Invoicing Under GST? Applicability, Limit, Rules & Implementation Date
e-Invoicing under GST refers to the electronic authentication of invoices. Similar to how GST-registered businesses generate e-way bills for the movement of goods, certain registered taxpayers are required to create…
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