Introduction The deadline for claiming additional deductions for house loan interest payments was recommended to be extended to 31 March 2024 by Union Finance Minister Nirmala Sitharaman in the budget speech. This comes after the administration extended the deadline to March 31, 2022, in the previous budget. All home loans approved up until the end …
A tax deduction is allowed under Section 80GGC for any money given to a political party or an electoral trust by an individual during the preceding year. If the donor gives a cash donation, there is no deduction allowed. Any sum contributed to a political party or an electoral trust during the fiscal year may …
What guidelines apply to compliance? It is essential to take action to prevent compliance problems. There are numerous regulations that firms must abide by. Depending on your sector, these guidelines may alter. Regulators also frequently update existing regulations and develop new ones. As a result, managing compliance effectively might require time and commitment. …
Introduction The assessment under GST is primarily centered on the taxpayer’s self-assessment, in which the taxpayer determines his own tax burden for the tax period and pays it. The department bases its compliance verification, examination, audit and investigation on documented checks rather than actual records. This led to the creation of a specific requirement that …
ITC Computation: What Is It? The provisions of the GST Act and Rules, which have also evolved over time, are applicable to ITC computation. In order to calculate ITC and submit it in GST filings, taxpayers must abide by all the requirements set forth in the GST Law. Since the introduction of GST, the fundamental …
How can you launch your own consulting business in India? Do you possess extensive and in-depth knowledge in a particular field? Or possess sufficient experience to support it? Then you can work as a consultant and launch your own consulting firm for people or businesses, earning a side income. An organisation that offers consulting services …
Introduction The process through which a taxpayer must record all of his income generated within a fiscal year is known as ITR filing. Individuals can complete their return filing through the official portal of the Income Tax Department. ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6, and ITR 7 are the …
Introduction Online shopping has, as we all know, been popular lately. It not only enables you to make purchases right from your home but also helps you save time and effort. On the other hand, running an online business in India is now hassle-free. Do you have company startup aspirations? If the response is affirmative, …
Is Company registration mandatory for Online Sellers? Read More »
ISD definition According to Section 2(61) of the CGST Act of 2017, a “Input Service Distributor” is a location of the supplier of goods or services or both that accepts tax invoices issued under Section 31 for the receipt of input services and issues a prescribed document in order to distribute the credit of central …
Google’s subsidiary Youtube exists. It is a website that lets people make, share, and watch videos. Online adverts that are broadcast on YouTube generate revenue for the service. The platform enables the user to access their Youtube channel. The channel owner might start receiving payments after the video and channel reach a certain threshold for …
