In the realm of income tax regulations in India, salaried individuals have access to various exemptions, extending beyond conventional deductions like premiums for Life Insurance Corporation (LIC) and interest on housing loans....
Taxation of stipend income remains a topic of considerable discussion within the realm of income taxation. Despite the absence of a specific mention of 'stipend' in the Income Tax Act, the Act does encompass various forms of remuneration, including wages, pension, gratuity, fees, commission, and...
In the realm of employment, various components beyond basic salaries contribute to an employee's take-home pay. One such critical component is Dearness Allowance (DA), particularly prevalent in the public sector....
In the realm of judicial proceedings within the GST Act, encompassing various aspects like penalties, prosecutions, and appeals, one significant facet often under scrutiny is the presentation of documents. This piece delves into the intricate dynamics surrounding the presumption of documents in the context of...
In adherence to the CGST Rules, Chapter 7 outlines the meticulous requirements for maintaining accounts and records by registered individuals or entities. These regulations ensure transparency and accuracy in financial documentation, crucial for tax compliance and audit scrutiny....
In compliance with the Goods and Services Tax (GST) regulations, various accounts and records are mandated to be maintained. These records serve to ensure transparency and accuracy in financial transactions. Here's an overview of the essential accounts and the information they should encompass:...
In the realm of Goods and Services Tax (GST), Input Tax Credit (ITC) stands out as a crucial mechanism facilitating the seamless flow of credit throughout the supply chain, from production to consumption, transcending geographical boundaries....
In June 2016, the GST Council introduced anti-profiteering regulations to safeguard consumers from price exploitation following the implementation of the Goods and Services Tax (GST)....
In the realm of CGST rules, Chapter 15 delves into the crucial aspect of Anti-Profiteering, ensuring fair practices in the passing on of benefits to consumers. Here's a detailed exploration:...
The National Anti-Profiteering Authority (NAA) was instituted under section 171 of the Central Goods and Services Tax Act, 2017, with the primary objective of safeguarding consumer interests by ensuring that the benefits of input tax credits or tax reductions are passed on to them through...
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