Understanding 234B in Income Tax Act is very important for every Indian taxpayer regardless whether you are salaried person, freelancers, small business owners. A lot of people pay their taxes…
Good financial reporting doesn’t happen by chance, it has a solid foundation rooted in good principles. The fundamental assumptions of accounting are the invisible framework that make every business company,…
Understanding the HSN code GST rate 2106 is important for the Indian small and medium businesses working with miscellaneous edible preparations. HSN 2106 is made up of a range of…
Keeping on top of your business accounts can sometimes feel like being a juggler, especially when you have payments and receipt from many customers. This is where bills receivable journal…
Every product that is sold in India under the Goods and Services Tax (GST) regime is classified by use of an HSN (Harmonized System of Nomenclature) Code. This system helps…
The section 40B is very crucial for the partnership firms and the accountants in India. This option defines how the remuneration, paid to the partners, will be treated as a…
From small necessity shops to rising startups, several Indian businesses are purely exposed to fines for lacking truthfulness or filing their taxes on schedule. These fines are often the result…
For all the businesses registered under GST in India, knowledge of the concept of Mixed supply and composite supply is very essential to ascertain the proper calculation of the Tax.…
Every Indian business owner wants to be aware of how much is a company really making gross profit and net profit. but that’s a question that requires an understanding of…
For small and medium-sized Indian businesses, understanding inventory accounting is very important in order to provide proper financial accounting. Inventory is a major component of working capital, and the way…
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