In the realm of Goods and Services Tax (GST) compliance, staying abreast of the latest schemes and regulations is paramount for businesses. One such scheme, the Quarterly Return Monthly Payment (QRMP) Scheme, introduced under GST, aims to streamline the filing process for eligible taxpayers. Let's...
Share repurchase, also referred to as buyback, stands as a pivotal corporate financial strategy that instigates corporate restructuring while concurrently enhancing Earnings per Share (EPS). This strategic maneuver is governed by Section 68 of the Companies Act, 2013, which empowers a company to acquire its...
In India, adherence to food safety standards is overseen by the Food Safety and Standards Authority of India (FSSAI), a governmental regulatory body. Obtaining FSSAI registration or license is mandatory for all food business operators (FBOs) to ensure compliance with safety and hygiene practices....
E-commerce, short for Electronic Commerce, denotes the exchange of goods, products, or services, including digital offerings, over digital or electronic networks. India has witnessed a significant surge in e-commerce activity in recent years, propelled by the widespread use of smartphones and internet connectivity. In response...
Salaried individuals who reside in rented accommodations have the opportunity to leverage House Rent Allowance (HRA) as a strategic tool for tax planning, potentially reducing their tax liabilities either partially or in full....
In exploring tax-saving strategies, Section 80C stands out as a cornerstone for taxpayers aiming to reduce their taxable income. This section offers a plethora of investment avenues, providing individuals and Hindu Undivided Families (HUFs) with the opportunity to save up to ₹1,50,000 annually....
Understanding the concept of deemed ownership under Section 27 of property laws is crucial for individuals navigating property transactions and taxation in India. This legal provision outlines scenarios where individuals are considered owners of property despite not holding legal title. Whether it's transfers to spouses,...
In the realm of Indian taxation, Section 194IB of the Income Tax Act holds significance, particularly in the domain of tax deductions concerning rental payments. Initially enacted to encompass joint development agreements within its scope, this section brings forth obligations regarding Tax Deducted at Source...
In the realm of tax management, deductions serve as valuable tools, offering individuals avenues to lessen their taxable income. Among these, the standard deduction emerges as a prominent strategy, providing a simplified approach to reduce tax liabilities without the hassle of itemizing expenses. This article...
Health insurance serves as a crucial shield against the uncertainties of medical emergencies. To incentivize the adoption of health insurance, the Government of India has instituted tax benefits under Section 80D of the Income Tax Act....
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