This blog delves into the nuanced understanding of how gains or losses arising from the sale of securities are classified, whether as 'Business Income' or 'Capital Gain'. The key question here revolves around whether an assessee chooses to categorize the sale of securities as income...
In the contemporary age of digitization, a significant portion of consumers is transitioning from traditional retail markets to online platforms such as Flipkart, Amazon, Snapdeal, Myntra, and others, seeking convenience and accessibility to products and services delivered to their doorstep....
Navigating the intricacies of taxation on dividends from equity shares is crucial for shareholders, ensuring compliance and understanding their financial obligations. In India, Tax Deducted at Source (TDS) plays a significant role in this regard. This blog aims to shed light on the fundamentals of...
The Directorate General of Foreign Trade (DGFT) unveiled its revamped platform on July 13, 2020, with a vision to enhance the Ease of Doing Business. An essential aspect of this transition involves the registration of Importer-Exporter Codes (IECs) on the new DGFT platform. This blog...
Taxpayers often experience apprehension upon receiving notices from tax authorities. This article outlines the reasons behind such notices, preventive measures to evade them, and the protocol for responding to notices from the GST department regarding penalties, interest, and late fees....
In the aftermath of the implementation of GST, the insurance and banking sectors witnessed significant changes, affecting both policyholders and financial institutions. The rise in GST rates from 15% to 18% as of July 1, 2017, resulted in increased expenses for individuals and businesses alike....
A recent development in the realm of GST, Rule 86B, was introduced by the Central Board of Indirect Taxes and Customs (CBIC) through notification number 94/2020 dated 22nd December 2020. It garnered attention within the business community. Effective from 1st January 2021, Rule 86B imposed...
In the realm of financial transactions, the transfer of shares carries legal obligations, particularly concerning the payment of stamp duty. Defined under the Indian Stamp Act, 1899, stamp duty is a levy imposed by the Central Government on various instruments, including those involved in share...
In accordance with the Companies Act of 2013, a director, as defined in Section 2(34), refers to an individual appointed to the board of a company. Their role entails executing the company's duties and functions within the framework outlined by the Act....
In this detailed blog, the complexities surrounding dropshipping businesses in India and their compliance with Goods and Services Tax (GST) regulations will be explored. The rise of dropshipping is notable for its inventory-free model, which eliminates substantial investments and mitigates the risk of dead stock....
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