GST Registration Requirements, Exceptions, Compulsion and Limits
Persons liable to take GST Registration As per Section 22 of CGST Act, 2017; Every supplier is liable to be registered in the state or union territory, from where he […]
New Child Tax Credit Boost: American Rescue Plan- $3,600 with Bonus
In response to the economic fallout of USA from the COVID-19 pandemic, the American Rescue Plan has emerged as a hope for struggling families across the United States. With Different […]
Hindu Undivided Family – HUF [Complete Guide]
If you are a Married and your religion is Hindu Including Jain, Sikh and Buddhists then Good News you are eligible to Formation of HUF and get benefit of it. […]
Agricultural Income: Taxation and Exemption u/s 10(1) of Income Tax Act, 1961
While filling of income tax Return by individuals, they surprised that after adding agricultural income into ITR; Income Tax calculation shows increase in tax without increase of Taxable income. If […]
Section 194R of Income Tax Act: Deduction of Tax on benefit or Perquisite in Respect of Business or Profession
As per the Memorandum of Finance Bill, 2022; Taxable income as per Clause (iv) of Section 28 of the Act, the value of benefit or perquisite paid in money or […]
Top Highlights of Budget FY 2024-25 by Finance Minister Nirmala Sitharaman
Budget 2024 introduce in Parliaments on 1st February, 2024 at 11:00 PM and following major highlights of budget 2024. Summary of Budget 2024 The highlights of the budget for FY […]
Section 43B(h) of Income Tax Act – Disallowance of Delayed Payment to Micro and Small Enterprises
Section 43B(h) of Income Tax Act introduced in Finance Act, 2023 for protect the interest of micro and small scale business or Enterprises. This Amendment effective from 1st April, 2024 […]
House Rent Allowance (HRA) – Exemption And Calculations
Hi! Folks! Have you ever heard about something called HRA? It is like a secret weapon when it comes to save your hard-earned money when you file your Income Tax […]
How to Read DTAA – A Complete Guide
Are you perplexed by the complexities of Double Taxation Avoidance Agreements (DTAAs)? Do you find it challenging to navigate through the intricate provisions and legal jargon? Fear not! In this […]
How to Start Sole Proprietorship Business in India
First of all, congratulate for thinking of starting a new business because starting a new business in India is tedious job as well as in legal paperwork is another challenging […]