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…
Very Important Decisions were taken in the 50th GST Council meeting dated 11th July 2023. Brief for your quick access:
When it comes to tax saving, most people consider only those options that come under 80C, however, the truth is you can bring down your tax liability further by claiming tax deductions on the best available options. SECTION NATURE OF…
As per income tax laws, ITR must be filed if a resident individual’s total income during the financial year exceeds the basic exemption limit. Remember, the basic exemption limit for an individual depends on his/her age, provided he/she opts for…
MCA has issued the most awaited clarification to provide relaxation to the companies to hold their Annual General Meeting through Video Conference, this clarification beneficial to all those members who are neither available in India nor in position to travel…
The Food Safety and Standards Authority of India (FSSAI) is an autonomous authority that offers a food license to all food business operators (FBO) in India. All FBOs are required to get a license or registration and follow the rules…
