Discover the impact of delaying investments in your 20s and the benefits of starting early. Explore tax-saving and high-return investment options, setting financial goals, and planning for a secure future. Don’t let the common mistake of postponing investments affect your financial success.
Explore the revolution in goods transportation with the GST E-way Bill system in India. Learn its importance, how to generate one, thresholds, validity periods, and consequences of non-compliance. Navigate the complexities, avoid penalties, and embrace the efficiency, transparency, and accountability offered by this digital document in the logistics industry.
Get ready to shell out more for overseas tour packages from July 1, 2023! A 20% TCS on international remittances will impact travel costs, but there are ways to navigate this increase. Understand the implications and explore alternatives to minimize the impact on your international travel budget.
Section 43B of Income Tax Act, 2013 is amended with a new clause (h) in order to provide reliefs made to MSMEs. Section 43B of the Income Tax Act, 2013 provide for any sum paid by the Assessee or Buyer to MSMEs beyond the 45-day time limit which is specified in section 15 of the MSME Development Act. Deduction under section 43B will be allowed only when the payment is actually made to MSMEs.
Encourage startup growth with Tax Holidays. Learn about Section 80 IAC offering tax exemption for 3 years. Recent budget 2023 amendments explained.
Understand Presumptive Taxation for Professionals under Section 44ADA of the Income Tax Act, including eligibility, thresholds, provisions, and proposed changes in Budget 2023.
Section 44AD applies to Assesses who are resident individuals, Hindu Undivided Family, Partnership firm and has not claimed deduction u/s 10A, 10B, 10AA, or under chapter VI A in respect of certain incomes.
Section 194N under Income Tax Act have been introduced detailing the provisions of TDS on Cash withdrawals vide union budget 2023
What is Angel Tax? Section 56(2) of the Budget Act of 2012 instituted the Angel Tax (viib). In general, angel tax is the tax that unlisted companies are required to pay on the money they generate via the issuance of shares. Tax is only charged if the investor is an Indian citizen and the share price of issued shares exceeds the company’s fair market value. In this case, the surplus value is seen as income and is thereafter considered to be taxed.
Delve into the comparison between the old and new income tax regimes in India. Explore the impact on deductions, exemptions, and overall tax liability.
