Alert: GST Registration Process Eased for MSMEs To encourage broader GST compliance among Micro, Small, and Medium Enterprises (MSMEs), the Central Board of Indirect Taxes and Customs (CBIC) has issued fresh guidelines aimed at streamlining GST registration and reducing administrative hurdles. This step is likely to increase GST registrations and simplify compliance for India’s 6.4 […]
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Sections 44AD & 44ADA in India (2024 Update) No. Section Description 1 Introduction presumptive taxation 44ad income tax Overview of presumptive taxation and its benefits 2 Understanding Presumptive Taxation Definition and key sections (44AD & 44ADA) 3 Benefits of Presumptive Taxation Reduced compliance burden, simplified filing, lower costs 4 Who Can Opt for Presumptive Taxation? Eligibility
A Guide for Determining Your Deduction Responsibility in India (2024 Update) No. Section Description 1 Introduction deduct tds Overview of TDS and its importance 2 Why Understanding TDS is Crucial Consequences of failing to deduct TDS 3 When Does an Individual Need to Deduct TDS? Common scenarios for TDS deduction by individuals 4 Steps to
Heads of Income for Accurate Tax Filing in India No. Head of Income Brief Description 1 Income from Salaries financial year 1961 Income earned from your employment. 2 Income from House Property Income earned from renting out properties. 3 Income from Profits and Gains of Business or Profession Income generated from carrying on business or
Don’t Get Taxed Twice! A Guide to Checking Your Form 16 Before Filing Your Income TaxReturn No. Section Topic Page Number (Estimated) 1 Introduction income tax return Importance of Form 16 1 2 Understanding Form 16 Breakdown Part A: TDS Details 2 3 Understanding Form 16 Breakdown Part B: Salary Details 3 4 What to
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Decoding Tax Regimes in India: Old vs. New – Which One’s Right for You? No. Section Topic Page Number (Estimated) 1 Introduction new tax regime Overview of Old vs. New Tax Regimes 1 2 The Old Tax Regime: Familiar Friend or Outdated System? Key Features 2 3 The Old Tax Regime: Familiar Friend or Outdated
Don’t Skip the ITR: Why Filing Your Tax Return Matters, Even With Low Income No. Section Topic Page Number (Estimated) 1 Introduction tax credits carry forward of losses Importance of filing ITR even with low income 1 2 Unlocking Benefits Advantages of filing ITR: Tax refunds, loan approvals, visa processing, credit history 1-2 3 Data