The Section 55 2 of Income Tax Act deals with determining the indexed cost of acquisition of long-term capital assets by the taxpayer. ESA If you sell property, stock, or…
The GSTIN UIN has a crucial role in the Goods and Services Tax regime in India. GSTIN is for the registered taxpayer, UNII (Unique Identification Number) is issued to any…
The 6907 HSN Code is important to businesses involved in ceramic tile – it is directly pertaining to the application of GST across all manufacturing, trading and retail businesses. Ceramic…
For many Indian taxpayers, taxation planning is too overwhelming. One of the most important sections to be aware of is section 80C Income Tax Act, as it deals with enabling…
For small businesses in India, it’s important to know the GST composition scheme turnover limit as it helps in planning useful tax on the business. The scheme allows the eligible…
GST compliance is a problem for many Indian pharmacies and distributors. One area where businesses get confused is with the Medicine HSN code. Code determines the rate of GST levied…
Filing GSTR 9C is not only a statutory requirement. It’s one way of you ensuring that your business records and the returns and the audited accounts are in agreement with…
With a surge in the rising e-commerce industry, Indian businesses must have a fair understanding of FIFO and LIFO accounting for financial and inventory-related recordkeeping. FIFO (First in, First Out)…
E-invoicing is now an integral part of the GST growing compliance process in India. When the e invoice applicable is not achieved, businesses have to suffer penalties, GST disputes, and…
The sec 44AD of Income Tax Act holds great significance for any small business, shopkeeper, or freelancer who is looking for a way to make the tax returns simple. Instead…
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