GST on Tours and Travels: HSN Code and GST Rates for Travel Agents
The Goods and Services Tax (GST) on tours and travel services varies based on whether input tax credit (ITC) is claimed. If ITC is not availed, a 5% GST is…
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Treatment of Advance Received under GST
An advance refers to an amount received before the actual supply of goods or services. Under GST, the time of supply rules dictate when tax liability arises for such advances.…
ROC Search Report
The Registrar of Companies (ROC) operates under Section 609 of the Companies Act, 2013, overseeing company registrations across different states in India. Functioning under the Ministry of Corporate Affairs (MCA),…
Section 194C – Guide on TDS on Payment to Contractor
Section 194C of the Income Tax Act: TDS on Payments to Contractors and Subcontractors Section 194C of the Income Tax Act focuses on the deduction of tax at source (TDS)…
Section 194I – TDS on Rent
Section 194-I outlines the rules for deducting tax at source (TDS) on rent payments. This provision primarily applies to individuals earning income through rental agreements or subletting properties. As rental…
Everything You Need to Know About GST Returns: Filing, Due Dates, and More
Everything You Need to Know About GST Returns: Filing, Due Dates, and More Navigating the world of GST returns can be challenging, but timely filing is essential for ensuring compliance…
Long-Term Capital Gains(LTCG): Tax Rates, How to Calculate, Exemptions and Examples
Long-Term Capital Gains(LTCG): Tax Rates, How to Calculate, Exemptions and Examples Profits earned from the sale or transfer of capital assets like property, shares, bonds, and vehicles fall under the…
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…