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 task. After deciding what business you want do, then next question in mind is that how I setup/start a Legal Business entity like Sole Proprietorship … Read more
Income tax is a crucial component of a country’s revenue system, and India is no exception. The Indian tax system is designed to collect taxes from individuals based on their income, commonly referred to as income tax. When it comes to salaried individuals, understanding the nuances of income tax on salary income and the deductions … Read more
Depreciation under section 32 allowed as percentage of Written Down Value (WDV) (excluding Power Generating Units where depreciation allowed as per straight line method). Below Depreciation Chart applicable from Assessment Year 2018-19 and updated time to time with respective Finance Acts. For easily find Rate Use Search Funtionality. Conditions Before Claiming Depreciation Act also allow an Addition Depreciation … Read more
The highest price of equity share quoted on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on 31-Jan-2018 is given in this table. If there is no trading in an equity share on BSE/NSE on 31-Jan-2018, the highest price of such share on a date immediately preceding 31-Jan-2018 (when such share is … Read more
Below you’ll find the TDS rate Chart for FY 2022-23, which summarises all the TDS provisions of the Income Tax Act, 1961. For Better use of TDS Rate Chart Use Search Funtionality. TDS Full Form is “Tax Deducted at Source“ Tax deduction at source (TDS) means payer to collect income tax due on such income … Read more
Old Facts Before GSTR 4 (Annual Return) there is GSTR 9A (Annual Return) required to file yearly. After GSTR 4 (Annual Filling) Became effective, Form GSTR-9A has been disabled from FY 2019-20 onwards for composition scheme. For Easily find all Day-to-Day Compliance related Tools/Links, check our Compiled Tax Dashboard.
Cost inflation index mainly used for calculation of long term capital gain (LTCG). Current Cost Inflation Index Table Indexed Cost of Acquisition Formula Indexed Cost of Acquisition = CII for the year of Transfer * Cost of Acquisition / CII for the First Year or Financial Year 2001-02, Whichever is later Frequently Asked Questions Excel … Read more
Tax season can be a stressful time for individuals and businesses alike, with the burden of accurately preparing and income tax return filing weighing heavily on their shoulders. However, thanks to advancements in technology, the process of income tax return filing has become more streamlined, efficient, and accessible than ever before. In this article, we … Read more