Registration is the most fundamental requirement for the identification of taxpayers ensuring tax compliance in the economy. Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of…
Registration of a company is something that now you are in the process of starting your business and complying with the law of India. In this way, the first and most important start is that your company needs to file…
When it comes to corporates there is always a set of rules that you need to follow and this same applies to the opening of the current bank account of the company and many questions creep into the mind, for…
As per the new tax scheme :In the case of self-occupied property, interest on a home loan is not a deductible expense. If this is let out then it is deductible.Although this is deductible under the old tax scheme either self-occupied…
What is Profession Tax? Profession tax is a tax levied by the State Government on salaried individuals, working in government or non-government entities, or in the practice of any profession, including Chartered Accountants, Company Secretaries, Doctors, Lawyers, Engineers, consultants, artists,…
The Department of Revenue, Ministry of Finance, Government of India, has prepared a draft ‘Indian Stamp Bill, 2023’ to align it with the modern stamp duty regime. Once enacted, the Bill shall replace the Indian Stamp Act, 1899. This is…
What is ITR? ITR stands for Income Tax Return. It is a summary of income earned by a person in a financial year and taxes paid on such income are communicated to the Income-tax Department. How to file a return of…
Refer SS from the notification
A contract or arrangement by a company with the person who is covered under Related Party (list is given below) with respect to— (a) sale, purchase, or supply of any goods or materials; (b) selling or otherwise disposing of, or…
Applicability of the Income Tax on the Domestic Indian Companies. In India, there are two tax schemes available for the India Domestic companies. Normal Tax Rates and Special Tax Rates. Under the Normal Tax Rates. Turnover of company Tax Rate…