Capital gains on Property

Capital Gains on Property

What exactly is the Capital Gains Tax (CGT)? Any gain or profit earned by an individual from the sale of a capital asset is referred to as capital gain. The profit made from the sale of the capital asset is taxed as ‘Income from Capital Gain.’ Profit is made by selling the capital asset for …

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Employees' Provident Fund (EPF)

Employees’ Provident Fund (EPF)

What is EPF?   Employees’ Provident Fund (EPF), also known as PF (Provident Fund) is a mandatory savings and retirement scheme for eligible employees. Employees can rely on the fund’s corpus after they retire. Employees must contribute 12% of their basic pay to this fund each month, according to EPF rules. The employer matches the …

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Trust Registration

Trust Registration

What exactly is trust? A trust is a legal vehicle that allows a third party, known as a trustee to operate and manage trust fund assets on behalf of a beneficiary. A trust expands your options for controlling your assets, whether you want to protect your wealth from taxes or pass it on to your …

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Online sellers must register for GST Anyone who sells goods on e-commerce platforms must register for GST and obtain a GST Identification Number (GSTIN). Online sellers are not subject to the basic exemption limit of Rs 40 lakh (for normal category states) and Rs 20 lakh (for north eastern states). Only GST-registered individuals can register on …



What exactly is Section 12AB? Previously, an NGO’s registration to have its income exempted from tax was done under Section 12AA. Following Section 12A registration, all income is exempt from taxation. If an NGO does not obtain 12A registration, income tax is due on any surplus during the fiscal year. According to the new Compliance …

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Form 10B

Form 10B

What is form 10B? All Trusts/Institutions that received permanent registration or approval for a period of 5 years will be required to submit an application in Form No.10AB after that time. 2. All Trusts/Institutions that have received provisional registration or approval for a period of three years must submit an application in Form No.10AB within …

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Private Limited Company

Private Limited Company

What is the definition of a Private Limited Company? In India, one of the most common types of legal entity is a Private Limited Company (PLC). The Companies Act, 2013 governs private limited companies, which must have at least two directors and two shareholders, one of whom must be an Indian resident and citizen. The …

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Reduce your Tax

How to Save Salary Tax in India? We have a tendency to invest in various items that improve our quality of life but can also cause severe financial strain. To significantly alleviate this burden, the government offers income tax exemptions on direct taxes levied on your total salary. Take out a home loan and benefit …

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Public Provident Fund (PPF)

What is PPF ? PPF schemes are very popular among investors. The National Savings Institute established the Public Provident Fund PPF Scheme in 1968. The Indian government supports this scheme. As a result, the returns are guaranteed. Section 80C of the Income Tax Act exempts the investment and interest earned from the PPF scheme. As …

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New criteria of small business

INTRODUCTION The Ministry of Corporate Affairs has notified a change to the Companies (Specification of Definitions and Details) Rules, 2014, which will take effect on April 1, 2021. The MCA (Ministry of Corporate Affairs) made this change in response to the Honourable Finance Minister’s proposal in the Union Budget 2021 to revise the definition of …

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