Tax implications on unlisted shares for both the investors and Company
Posted Date : 27-Jul-2023 , 01:31:02 am | Posted By
NIKITA AGARWAL
Investing in unlisted shares in India can have various tax implications, both at the time of acquisition and when selling or transferring these shares. Unlisted shares refer to shares of companies that are not listed on any recognized stock exchange. Here are some key tax implications to consider: ...
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Category : Income Tax |
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Income Tax Dept Serves Notices to Salaried Individuals asking for details of CA / Advocate / Tax Consultants
Posted Date : 26-Jul-2023 , 11:21:25 am | Posted By
CA.Khurana Vivek
Notices are being served by the Income tax (I-T) department asking assessees to produce documentary proof for claiming exemptions / deductions. Complete with fake rent receipts from close relatives, extra claims against home loans, false donations and a slew of dodgy practices encouraged by some of...
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Category : Income Tax |
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Leave Trasvel Concession Claim – Provisions, Documents and Frequency
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 |
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Top 5 Useful Ways to Save Income Tax
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 |
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A Detailed Analysis of Form DPT-3 under the Companies Act, 2013 in India
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 |
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How to get APEDA registration Certificate
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 |
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How to claim deduction of Joint Home Loan in ITR
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 |
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Supercharge Tax Benefits With Section 80RRB
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 |
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Nifty All Time High - Investment Tips
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 |
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Fill out the Deceased's Income Tax Return as the Legal Heir
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 |
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Process to Download GST Registration Certificate
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 |
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Calculation of Capital Gains on Shares when the cost of purchase is unknown
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 |
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How to Get FSSAI Certificate
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 |
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LLP and Partnership Firm: Meaning and Differences
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 |
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Step-by-step process for obtaining a legal heir certificate, along with explanations.
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 |
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Do's And Don'ts while filing TDS return
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 |
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Comprehensive overview of Tax Deduction at Source (TDS)
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 |
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Mistakes that a newly qualified Chartered Accountants do while finding jobs
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 |
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The Process to Prepare the GST Audit
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 |
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Addressing a career gap in your CV can be challenging- Here are the some ways by which you can address it
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 |
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