Tag: Founders Office

presumptive taxation 44ad income

What is presumptive taxation under S. 44AD and 44ADA and who can file the return under presumptive taxation

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 [...]

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financial year 1961

Understand the Heads of Income under the Income Tax Act, 1961 under which you are assessable in any financial year

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 [...]

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gst registrations

Know when are you required to obtain GST registration and what is the compliance applicable once registration is obtained

GST Registration and Compliance No. Topic Subtopic 1 Introduction GST  registrations Importance of Understanding GST Registration and Compliance 2 Who Needs to Register for GST? Turnover Threshold 3 How to Register for GST? Gather Required Documents, GST Compliance Requirements 4 Filing GST Returns Penalties for Non-Compliance, Types (can be mentioned [...]

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refunds gst act

Concept of Refunds under GST Act

GST Registration and Compliance No. Topic Subtopic 1 Introduction refunds GST  act Importance of Understanding GST Refunds 2 What are GST Refunds? Definition & Mechanism 3 Who Can Claim GST Refunds? Exporters, Suppliers Making Zero-Rated Supplies, Businesses with Unutilized ITC, Importance:Consult a Tax Professional for Eligibility Details 4 Types of [...]

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gratuity

What is Gratuity and who is eligible to receive gratuity from his employer

Demystifying Gratuity: Understanding Your End-of-Service Payment in India No. Topic Subtopic 1 Introduction gratuity Understanding Gratuity Benefits 2 What is Gratuity? Definition & Governing Act 3 Who is Eligible for Gratuity? Minimum Service Requirement 4 Calculating Your Gratuity Amount Formula Breakdown 5 How to Claim Your Gratuity Application Process 6 [...]

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pf deducted

Know the deductions under the Provident Fund Act and how to ensure if your employer is depositing the PF deducted from your salary

Understanding and Tracking Your Employee Provident Fund (EPF) No. Topic Subtopic 1 Introduction PF deducted What is the Employee Provident Fund (EPF)? 2 Understanding Your EPF Deductions Employee Contribution,Employer Contribution,Simple Calculation, 3 Tracking Your EPF Contributions Universal Account Number (UAN),Member Passbook,SMS Alerts, 4 What to Do if Your Employer Isn’t [...]

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pf withdrawal

Whether an employee can withdraw his PF while being employed and procedure to follow for successful withdrawal

Employee’s Provident Fund (EPF) Withdrawal Process No. Heading Subheading 1 Introduction PF  withdrawal   2 Can You Withdraw PF While Employed? Medical Emergency Education, House Purchase/Renovation, Marriage, Unemployment, Unemployment (1 Month), Unemployment (2 Months or More), Settlement on Retirement, Transferring PF Account (Job Change), 3 Steps for Successful EPF Withdrawal [...]

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