When a company seeks to raise funds without diluting its equity, it often opts for issuing debentures, which represent a form of debt for the company. Comparable to borrowing money, debentures necessitate repayment over a predetermined period, typically with a fixed interest rate. Both corporate...
Agriculture stands as the predominant occupation in India, often serving as the sole income source for a significant portion of the rural populace. Given the vital role agriculture plays in meeting the country's food needs, various governmental initiatives, including tax exemptions, aim to bolster this...
For individuals surpassing the basic exemption limit in a fiscal year, filing an Income Tax Return (ITR) becomes mandatory, detailing income, deductions, and relevant information. Once filed, the Income Tax Department processes these returns, occasionally subjecting them to assessment based on Central Board of Direct...
In today’s dynamic business landscape, enterprises often operate across diverse sectors, managing multiple undertakings simultaneously. This diversification may lead to scenarios where companies possess distinct assets and liabilities within each business segment. Consequently, companies may consider divesting either a portion or the entirety of a...
India initiated the Goods and Services Tax (GST) on 1st July 2017, aiming to streamline the taxation process. Among the various tax schemes introduced under GST, the Margin Scheme stood out. Let's delve into its intricacies....
The Indian government had enacted Section 44AD of the Income Tax Act to alleviate the tax burden on small taxpayers through a presumptive taxation scheme. This scheme applied to taxpayers engaged in any business other than those specified in Section 44AE, such as hiring, rent,...
Business, a fundamental activity in society, encompasses various forms of trade and services aimed at profit generation. While traditionally associated with commercial ventures, businesses can also serve non-profit purposes, whereby profits are not distributed to members or stakeholders. In this guide, we will delve into...
The transfer of funds from NRO to NRE accounts is a pivotal concern for NRIs, navigating through the intricacies of NRI banking. Understanding the dynamics of these accounts is crucial for effective fund management. Here, we delve into the process of repatriating funds from NRO...
In the realm of taxation, the treatment of losses incurred from exempted sources against taxable income is a critical aspect. When income originates from a source that is exempt from taxation, any associated losses cannot be offset against taxable income. This article delves into the...
In the process of filing Income Tax Returns (ITR), many individuals, both those employed and those retiring, often overlook certain sources of income, leading to inadvertent errors in their filings. Even professionals sometimes struggle to navigate the complexities of tax laws. This article aims to...
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