Posted Date : 25-Jul-2023 , 07:31:48 pm | Posted By NIKITA AGARWAL

Leave Trasvel Concession Claim – Provisions, Documents and Frequency   LTC (Leave Travel Concession) is a tax benefit provided by the Indian government to salaried individuals for expenses incurred on travel. The LTC is primarily applicable to government employees, employees of public s...

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Category : Income Tax | Comments : 0 | Hits : 254

Posted Date : 25-Jul-2023 , 10:24:04 am | Posted By CA Jyoti Agrawal

Income tax is an essential part of every citizen’s financial responsibility. However, finding legal ways to save income tax liability can be beneficial. While there are may methods to save income tax in india , such as claiming deductions for investments and expenses, there are also some other...

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Category : Income Tax | Comments : 0 | Hits : 248

Posted Date : 24-Jul-2023 , 03:34:37 pm | Posted By NIKITA AGARWAL

A Detailed Analysis of Form DPT-3 under the Companies Act, 2013 in India     1. Introduction   The Companies Act, 2013, is a comprehensive legislation that governs the formation, management, and operations of companies in India. One of the crucial compliance requirements under th...

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Category : Corporate Law | Comments : 0 | Hits : 202

Posted Date : 23-Jul-2023 , 06:16:34 pm | Posted By NIKITA AGARWAL

APEDA (Agricultural and Processed Food Products Export Development Authority) registration in India is an essential requirement for businesses engaged in the export of agricultural and processed food products. APEDA plays a crucial role in promoting the export of these products and ensuring their qu...

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Category : General | Comments : 0 | Hits : 263

Posted Date : 22-Jul-2023 , 10:49:19 am | Posted By NIKITA AGARWAL

When three individuals take a joint home loan and want to claim the tax benefits for the interest paid on the loan, they can do so by following these steps: Ownership Ratio: First, they need to determine the ownership ratio of the property and the loan among the three individuals. This ratio will...

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Category : Income Tax | Comments : 0 | Hits : 248

Posted Date : 21-Jul-2023 , 11:07:19 am | Posted By CA Jyoti Agrawal

Royalties on patents are similar to rewards for producing excellent work. Section 80RRB was included to the Income Tax Act to encourage people. Taxpayers may deduct revenue from royalties on patents under this clause. According to section 80RRB, the taxpayer is qualified to make a deduction claim. T...

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Category : Income Tax | Comments : 0 | Hits : 240

Posted Date : 20-Jul-2023 , 03:39:38 pm | Posted By NIKITA AGARWAL

When the Nifty (or any stock market index) reaches an all-time high, it can be an exciting time for investors, but it also calls for cautious decision-making. Here are some key points that an investor should keep in mind during such times: Avoid Emotional Decisions: Reaching an all-time high can ...

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Category : Shares & Stock | Comments : 0 | Hits : 402

Posted Date : 18-Jul-2023 , 10:11:47 pm | Posted By CA Jyoti Agrawal

Did you realise that taxes can be levied on the deceased as well? As absurd as it may appear, if a deceased person had taxable income, income tax returns had to be submitted for that person. For the income earned up until the date of death, his legal heir or representative must file the return on hi...

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Category : Income Tax | Comments : 0 | Hits : 295

Posted Date : 18-Jul-2023 , 04:35:56 pm | Posted By Ishita Ramani

Introduction   The GST registration certificate is a legal document that is a proof of the GST registered taxpayers in India. Any company or firm in India whose revenue exceeds the GST registration criteria is required to register under GST. Entities such as casual taxable persons, non-reside...

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Category : GST | Comments : 0 | Hits : 382

Posted Date : 17-Jul-2023 , 05:58:58 pm | Posted By NIKITA AGARWAL

Calculating capital gains on shares when the cost of purchase is unknown can be challenging. However, there are a few methods you can use to determine the cost of acquisition and calculate the capital gains. Here's a general approach:   Determine the fair market value (FMV) as on 31st January...

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Category : Income Tax | Comments : 0 | Hits : 457

Posted Date : 16-Jul-2023 , 07:50:39 pm | Posted By NIKITA AGARWAL

FSSAI (Food Safety and Standards Authority of India) registration is mandatory for any business involved in the food industry in India. The registration process involves several steps and requires specific documents to be submitted. Here is a detailed analysis of how to do FSSAI registration in Indi...

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Category : General | Comments : 0 | Hits : 395

Posted Date : 15-Jul-2023 , 05:35:12 pm | Posted By Ishita Ramani

Introduction   When starting a partnership business, the first decision a businessman has to make is what type of partnership business they want to register. The 2 most common types of partnership business structures are Partnership Firm and Limited Liability Partnership (LLP). In this blog, ...

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Category : Corporate Law | Comments : 0 | Hits : 261

Posted Date : 15-Jul-2023 , 01:59:32 pm | Posted By NIKITA AGARWAL

A legal heir certificate is an important document that establishes the rightful heirs of a deceased person. It serves as proof of inheritance and is required for various purposes, including claiming assets, accessing bank accounts, applying for government benefits, and settling legal matters. In thi...

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Category : Corporate Law | Comments : 0 | Hits : 376

Posted Date : 14-Jul-2023 , 08:56:26 am | Posted By NIKITA AGARWAL

While filing TDS Return, A Return Preparer should keep in mind the following Do's and Dont's:-  Do's: 1. Read the instructions carefully: Familiarize yourself with the guidelines and instructions provided by the Income Tax Department for filling TDS returns. 2. Use updated forms: Always use ...

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Category : TDS | Comments : 0 | Hits : 287

Posted Date : 13-Jul-2023 , 06:34:24 pm | Posted By NIKITA AGARWAL

This article provides a comprehensive overview of Tax Deduction at Source (TDS), covering various aspects such as forms, returns, challans, due dates, and related information. TDS is a mechanism employed by tax authorities to collect taxes at the source of income. This aims to explain the concept of...

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Category : TDS | Comments : 0 | Hits : 225

Posted Date : 13-Jul-2023 , 06:17:33 pm | Posted By NIKITA AGARWAL

Mistakes that a newly qualified Chartered Accountants do while finding jobs 1. Neglecting professional networking opportunities: Failing to actively seek out and engage with potential employers and industry professionals.   2. Insufficient research: Inadequately exploring the job market an...

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Category : CA | Comments : 0 | Hits : 234

Posted Date : 13-Jul-2023 , 12:08:58 pm | Posted By Ishita Ramani

Introduction   Registered taxpayers in India with an aggregate turnover of more than 2 crores in a financial year must have their accounts book audited by an authorized Cost Accountant or a Chartered Accountant in accordance with Section 35 (5) of CGST Act. The taxpayer must submit a copy of ...

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Category : Income Tax | Comments : 0 | Hits : 190

Posted Date : 12-Jul-2023 , 10:51:18 am | Posted By NIKITA AGARWAL

A lacuna in your employment history within your curriculum vitae can have potential drawbacks on your job hunt and career opportunities. Addressing a career gap in your CV can be challenging, but there are several unique ways you can handle it. Here are some approaches you can consider: Address t...

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Category : General | Comments : 0 | Hits : 240

Posted Date : 11-Jul-2023 , 12:24:43 pm | Posted By NIKITA AGARWAL

Recovering lost physical shares and transferring them to a Demat account can be a complex process, involving various steps and documentation. Below is a step-by-step guide to help you through the process. Step 1: File an FIR (First Information Report) If your physical shares have been lost or st...

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Category : Shares & Stock | Comments : 0 | Hits : 459

Posted Date : 11-Jul-2023 , 12:16:02 pm | Posted By Ishita Ramani

Introduction   When your GST registration has been cancelled by the authorities, you can apply for restoration by filing Form GST REG-21 within 30 days of receiving the cancellation notice. However, restoration is only possible if the authorities have cancelled the registration; if you cancel...

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Category : Corporate Law | Comments : 0 | Hits : 172

Posted Date : 10-Jul-2023 , 05:30:36 pm | Posted By NIKITA AGARWAL

Reconciling GSTR-1 with GSTR-3B requires a step-by-step process to ensure accuracy. Here's a practical guide to reconciling these two GST returns: Step 1: Understand the Difference Between GSTR-1 and GSTR-3B GSTR-1 is a return that contains details of all outward supplies (sales) made during a spe...

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Category : GST | Comments : 0 | Hits : 497

Posted Date : 07-Jul-2023 , 09:54:50 am | Posted By CA.Khurana Vivek

Taxation on Shares and Securities - Part 1 Taxation on Trading of Shares Listed Shares Unlisted Shares Taxation on Mutual Fund Debt Oriented Equity Oriented Bonds & Debentures Listed Unlisted Zero Coupon   CBDT Circular No.4/2007 dated 15.06.2007, Cir...

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Category : Income Tax | Comments : 0 | Hits : 428

Posted Date : 05-Jul-2023 , 03:38:42 pm | Posted By Ishita Ramani

Introduction   A Limited Liability Partnership (LLP) has fewer compliance obligations compared to a Private Limited Company. However, it is important to file returns regularly to ensure compliance and avoid penalties. This blog will provide information on LLP Annual Filing, LLP Annual Complia...

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Category : Corporate Law | Comments : 0 | Hits : 380

Posted Date : 30-Jun-2023 , 03:30:02 pm | Posted By Ishita Ramani

Introduction   Choosing a company name is a crucial step when registering a Private Limited Company. During the name approval process conducted by the Ministry of Corporate Affairs, applicants are required to submit two options for the company name in order of preference. The Registrar of Com...

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Category : Corporate Law | Comments : 0 | Hits : 360

Posted Date : 28-Jun-2023 , 09:56:42 pm | Posted By CA.Khurana Vivek

Latest Express Entry Draw for PR on 27th June 2023. Second Express Entry draw of June 2023. First was on 08th June 2023. The draw was a surprise as it marked the second Express Entry round of invitations in consecutive weeks. IRCC has now already invited 9,100 Express Entry candidates in...

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Category : Income Tax | Comments : 0 | Hits : 723

Posted Date : 22-Jun-2023 , 02:58:26 pm | Posted By Ishita Ramani

Introduction   Going public is the process by which a private company becomes a publicly traded entity through an Initial Public Offering (IPO). This means that the company’s shares are available for purchase by the general public, and the company becomes publicly owned. Going public is...

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Category : Corporate Law | Comments : 0 | Hits : 533

Posted Date : 16-Jun-2023 , 03:28:41 pm | Posted By Ishita Ramani

Introduction   GST stands for goods and service tax. The goods and services tax is a value-added indirect tax levied on most goods and services sold for domestic consumption. The GST is paid via GST Returns by consumers, but it is remitted to the government by the businesses selling the goods...

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Category : GST | Comments : 1 | Hits : 713

Posted Date : 14-Jun-2023 , 12:06:30 pm | Posted By Ishita Ramani

Introduction   In the realm of the Goods and Services Tax (GST) system, the E-Way Bill has emerged as a crucial document for the transportation of goods. In this blog, we will delve into the process of generating an E-Way Bill on a mobile device using the SMS method. We will also discuss the w...

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Category : GST | Comments : 0 | Hits : 654

Posted Date : 12-Jun-2023 , 04:38:49 pm | Posted By Ishita Ramani

Introduction   E-Invoicing under the Goods and Services Tax (GST) regime is a digital invoicing system implemented for specific categories of taxpayers in India. It enables businesses to register and obtain digitally signed Electronic Invoices within the GST framework. In this article, we wil...

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Category : GST | Comments : 0 | Hits : 686

Posted Date : 08-Jun-2023 , 09:22:49 pm | Posted By S.Mahajan

If Seller/Deductee is a resident of India: The Finance Act 2013 introduced section 194IA applicable w.e.f. 01.06.2013, wherein TDS is applicable on sale of immovable property where the sale consideration of the property is equal to or exceeds Rs. 50,00,000/- (Rupees Fifty Lakh). TDS @ 1...

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Category : TDS | Comments : 0 | Hits : 757