So, you are an NRI (Non-Resident Indian) living abroad, working in an MNC or running your own business. You probably don’t even know the income tax laws of India. After all, you won’t be needing them, right? If you think like that then you need to change your point of view. Here are some income…
It’s not business as usual anymore… The city of Bangalore grew rapidly over the last 20 years and earned the name as India’s Silicon Valley. With the IT industry making a firm footing, Bangalore now has a very robust business environment. The city is home to large corporations, both Indian and multinational, and a vibrant…
A lot of people have a lot of questions regarding TDS. To help you all understand here is the table of TDS rate chart for the financial year 2017-2018: And, it continues… Finally, here it ends. Well, that was long but not too tough. We hope you found this article to be useful. If you have more…
GST E-Way Bill is an electronic bill which will be required for the movement of goods in case the value of the goods are above fifty thousand rupees. The bill can be generated from the GSTN portal. There are various rules and regulations issued by the CBEC for the handling of e-way bill. Central Board…
As per section 194IA, the buyer of the immovable property (i.e. a building or part of a building or any land other than agricultural land) will be liable to have TDS deducted on any sum paid or payable under consideration to the seller at the rate of 1% on the date of payment/ credit whichever…
Before we get started with the provisions let us first talk a little about advance tax. Advance tax is the income tax payable if your tax liability exceeds INR 10,000 in a financial year. Advance tax should be paid in the year in which the income is received. Hence, it is also known as the ‘pay-as-you-earn’ scheme. Advance tax is applicable when an individual has sources of…
There are always times when you may have thought about withdrawing your EPF. However, do you know about the circumstances under which EPF can be withdrawn? If your answer is no then we will help you with it. So, let’s get started. EPF can be completely withdrawn under any of the following circumstances: a) When…
Indian government has initiated to increase the exports from India as portrayed by the “Make in India” policy, and the many tax benefits provided to the exporters. GST rolled out on July 1 and yet there is still some ambiguity among the exporters on the possible impact of the new regime on this industry. On…
The market has been witnessing robust growth over the last few years as customers are increasingly shifting from traditional taxis to radio taxis. Nowadays, we call a cab to our doorsteps thanks to applications like Uber and Ola. But, do you know how to rent a cab under GST? Let’s find out. GST clearly defines…
EPF (Employees’ Provident Fund) and ESI (Employees’ State Insurance) are some of the most frequently queried topics. However, how much do we know about their applicability? In this article, we will talk about their applicability, starting with EPF. EMPLOYEES’ PROVIDENT FUND AND MISCELLANEOUS PROVISIONS ACT ‘1952: The Employees’ Provident Fund and Miscellaneous Provisions Act 1952…
According to the Notification no. 37/2017 Central Tax, any registered person who intends to supply goods /services to outside India or units covered under SEZ (Special Economic Zone) or developer of SEZ without payment of integrated tax (IGST) is required to furnish Letter of Undertaking (LUT) in FORM GST RFD-11. The following types of persons registered…
Almost every small business person considers whether or not to incorporate their business at some point. Note that the form of business ownership isn’t fixed forever; you can change the legal structure of your business as it grows. A common scenario is for small businesses to start out as sole proprietorship or partnerships and become incorporated as a Company, LLP,…