How to Choose the Right ITR Form for FY 2023-24 (AY 2024-25)
Filing your Income Tax Return (ITR) correctly is crucial, and understanding which form to use can make the process easier. Here's a simple guide on the types of ITR Form…
Section 10 Of Income Tax Act_ Exemptions, Allowances & How To Claim It
Hello Folks!!!Today, we are going to discuss about the Section 10 of Income Tax Act,The Government of India offers various exemptions to help reduce your income tax burden. Section 10…
Steps to register private limited company
What is a Private Limited Company?A private limited company is a business structure typically used by small businesses. In this format, ownership is restricted to a limited number of shareholders,…
Valuation Report
A Valuation Certificate is an essential document that determines the value of a company or an asset. It is provided by a certified valuer after performing a detailed valuation. This…
Long-Term Capital Gains(LTCG): Tax Rates, How to Calculate, Exemptions and Examples
Long-Term Capital Gains(LTCG): Tax Rates, How to Calculate, Exemptions and Examples Profits or gains resulting from the sale or transfer of capital assets, including property, shares, bonds, and vehicles, are…
Section 115BAC of Income Tax Act: New Tax Regime Deductions Allowed, Exemption List & Benefits
What is Section 115BAC – The New Tax Regime?Section 115BAC, introduced in the Budget 2020, established a new tax regime effective from FY 2020-21 (AY 2021-22). This regime offers reduced…
How To Fill Form 10E To Claim Relief Under Section 89(1)?
Relief Under Section 89(1) of the Income Tax ActSection 89(1) of the Income Tax Act provides relief for income received in arrears or in advance due to changes in taxation…
Form PAS-6
Form PAS-6: Reconciliation of Share Capital Audit ReportForm PAS-6 is a half-yearly report required from unlisted public companies, detailing changes and status of share capital. This form must be submitted…
Quick to Correct Form 26QB Online on the TRACES Website
Form 26QB plays a crucial role in the deduction of Tax Deducted at Source (TDS) for property sales. Despite its importance, errors can occasionally occur during its submission. If you…
Advance Tax Under Income Tax Act, 1961
Learn about Advance Tax according to the Income Tax Act, 1961. Understand compliance procedures, methods for revising income estimates, key deadlines, exemption criteria, applicable tax rates, and the steps to…
F&O Taxation in India: A Complete Guide for Traders on Filing Returns
For years, F&O traders faced tax audits simply because their turnover exceeded ₹10 Crore. This was due to the formula used for calculating trading turnover, which included option premiums, often…
Cancellation of registration under GST
You can cancel your GST registration if your business is no longer subject to GST rules, you are closing down your business, or if a tax officer initiates the cancellation.…
Leave Encashment – Tax Exemption, Calculation & Formula With Example, Rules
Leave Encashment - Tax Exemption, Calculation & Formula With Example, RulesHave you heard of the term ‘leave encashment’?Leave encashment is a familiar concept among salaried individuals, allowing employees to convert…
Introduction to Transfer Pricing in India
Transfer pricing regulations in India encompass both domestic and international transactions that surpass a specified threshold in terms of transaction value. The provisions for transfer pricing were incorporated by adding…