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…
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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…
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…
Starting a company in India involves following the rules set by the Companies Act, 2013. This law explains how companies should be formed, run, and closed. To register a company,…
Dealing with taxes can be tricky for both individuals and businesses. The rules change often, and it’s easy to make mistakes. That’s why many people hire tax consultants. These experts…
The Central Board of Indirect Taxes and Customs (CBIC) has issued a Standard Operating Procedure (SOP) to provide clarity on the applicability and procedures related to Tax Deducted at Source…
If you disagree with the decision made by the Assessing Officer regarding your total income, you can submit Form 35 to the Income Tax Department to challenge the order. Section…
The Ministry of Micro, Small and Medium Enterprises (MSME) in India grants a digital certificate called the Udyam Registration Certificate to officially recognized MSMEs. This certificate, also referred to as…
Section 17(5) of the CGST Act, commonly known as the "blocked credit" provision, is a crucial clause for every regular GST-registered taxpayer. It outlines specific transactions where GST is paid,…
Any individual involved in the taxable supply of goods or services within a state, with an annual turnover exceeding Rs 20 lakh (Rs 40 lakh or Rs 10 lakh depending…
An individual of Indian origin residing outside India is referred to as a Non-Resident Indian (NRI). The Income Tax Act of 1961 outlines separate tax provisions for Indian residents and…