The Goods and Services Tax (GST) Act, introduced in 2016, represented a significant shift in India's tax landscape. It aimed to streamline indirect taxation, affecting various sectors, including the burgeoning start-up ecosystem. This article explored the repercussions of GST on start-ups in India, examining both...
The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 06/2024 –Central Tax dated February 22, 2024, introducing the "Public Tech Platform for Frictionless Credit." This platform, endorsed by the Reserve Bank of India and developed by its subsidiary, the Reserve Bank...
The President of the Institute of Chartered Accountants of India (ICAI) has brought forth a proposal suggesting that chartered accountants hailing from the United Kingdom and Canada could potentially practice in India. This proposition, set forth on February 21, aims to establish a reciprocal arrangement...
When a company seeks financial support for its ventures and expansions, borrowing money becomes a pivotal avenue. In the realm of corporate finance, such borrowings often involve placing charges on the company's assets as collateral for the lender. This article delves into the nuances of...
Taxation serves as a crucial mechanism for governments to generate revenue, encompassing levies on wages, profits, goods, services, and transactions. The process of tax auditing, conducted by bodies like the Internal Revenue Service (IRS), scrutinizes individuals' or businesses' tax returns for compliance. This article delves...
A Nidhi Company registration in Rajasthan mirrors the structure of a non-banking financial institution. This registration enables such entities to facilitate borrowing from their members and subsequently lending back to them. Typically, Nidhi Companies, established in Rajasthan, serve to promote savings and deposits among their...
When the Assessment Officer (AO) encountered undisclosed cash receipts or deposits in the taxpayer's bank account without satisfactory explanation, a common tactic was for the taxpayer to assert that these deposits originated from withdrawals noted in the same account or cash book. Section 68 of...
When a shareholder loses their share certificate, both the shareholder and the company face potential financial repercussions. Under the Companies Act, 2013, and the Companies (Share Capital and Debentures) Rules, 2014, provisions are made for the issuance of duplicate share certificates to mitigate losses for...
The advent of GST marks a significant tax reform aimed at streamlining taxation across the nation. While this reform has brought benefits to various sectors, its implications for charities and non-profit organizations are noteworthy. This article explores the impact of GST on the renting of...
Tax Deducted at Source (TDS) is a crucial aspect of the Income Tax Act, 1961, mandating the deduction of income tax from certain payments at the time of disbursal. This article aims to elucidate the essentials of TDS as per the provisions of the Income...
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