The Reserve Bank of India conducts an annual survey on Foreign Liabilities and Assets (FLA) of Mutual Funds (MFs) and Asset Management Companies (AMCs) in India, with the most recent update as of June 3, 2024. This survey is designed to collect informatio...
Frequently, we register a company for a business idea that we intend to implement, but because it does not work, we do not even begin work. Also, there are times when we register a company for a future project, which means that the company is not already...
Since July 1st, 2017, India has been subject to Goods and Services Tax (GST), as per Article 246A of the Indian Constitution. In general, the government's main goal in implementing GST is to simplify indirect taxation in India....
Classifying which ITR should be utilized for each case is a frequently debated and perplexing problem that return preparers encounter while submitting their income tax returns. For salaried employees to manage the intricacies of tax requirements, it is es...
Applicability of TDS Under provision 194IA: If immovable property, such as land or any building other than agricultural land, is transferred for a consideration of at least Rs 50 lakh, this provision will apply. All forms of immovable property are include...
GSTN, the common GST site, continues to issue warnings on new functions / updates on the portal for functional upgrades and additional options or functions that taxpayers can implement. GSTN has issued the following advisory regarding various compliances...
Paying income tax for the first time is a significant milestone in any citizen's life. However, for a first-timer, the process might appear intimidating and time-consuming, and some of the terminology can be confusing. It does not have to be this way. Her...
Understanding the complexities of valuing transactions between related parties is critical for complying with Goods and Service Tax (GST) requirements. This page goes into the many valuation methods specified under the GST Act, providing practical example...
Salaried employees account for the majority of the country's taxpayers, and their contribution to tax collection is important. Income tax deductions provide a variety of tax-saving alternatives for the salaried class. These deductions and exemptions allow...