Lately, there has been considerable attention on a new provision introduced under Section 80G of the Income Tax Act, 1961, particularly concerning Form 10BD and Form 10BE. If you contribute…
How to File E-Form 15CA and 15CB? Handling compliance related to foreign remittances can often feel overwhelming. The involvement of cross-border transactions adds an extra layer of complexity, making the…
Angel Tax: Exemption, Rate, and ExampleIf you're an entrepreneur, you've likely come across the term "Angel Tax." Under Section 56(2)(viib) of the Income Tax Act, Indian startups were required to…
The process of claiming a GST refund involves following a defined procedure, submitting necessary documents, and providing declarations where required. Taxpayers must apply to the GST authorities to request a…
Understanding the process of private trust registration is essential for securing legal recognition and associated benefits. This guide outlines the necessary steps to ensure a seamless registration process in India.Why…
Inverted Duty Structure under GST The term inverted duty structure refers to a situation where the tax rate on input materials is higher than the tax rate applicable to the final…
GST Rules for Freelancers in IndiaA freelancer is an independent service provider who offers services on a contract basis, hourly rate, or periodic schedule. These services can be delivered directly…
Understanding GST on Professional Services in IndiaGoods and Services Tax (GST) applies to various professional services in India, including consulting, legal, accounting, medical, and IT services. Professionals offering services beyond…
How to Prepare a CMA Report for a Bank LoanA Credit Monitoring Arrangement (CMA) report is a financial document that presents both the past performance and future projections of a…
Credit Monitoring Arrangement ( CMA ) - Overview & Documents RequiredThe Credit Monitoring Arrangement (CMA) report has been in practice since October 1988. Before its introduction, from 1965 to 1988,…
Angel tax is a levy imposed on startups in India when they receive investments exceeding their Fair Market Value (FMV), as specified under Section 56(2)(viib) of the Income Tax Act.…
MCA Change Request Form (CRF)The Ministry of Corporate Affairs (MCA) has introduced the Change Request Form (CRF), a web-based tool designed to address exceptional scenarios where existing forms or services…
Changing the registered mobile number or email ID on the GST portal is a straightforward process. The method you follow will depend on the number of authorized signatories associated with…
How to Dissolve a Hindu Undivided Family (HUF) Deed?Taxpayers belonging to Hindu, Jain, Buddhist, and Sikh communities can often take advantage of a strategic tax-saving mechanism by forming a Hindu…