New Tax Regime- For Business Entities
In India, there are two different sorts of taxes: direct and indirect. In terms of direct taxes, they are assessed on the revenue that various corporate organisations generate over a fiscal year. The Income Tax Department registers many types...
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New Tax Regime- For Salaried Persons
In Budget 2020, Nirmala Sitharaman, the finance minister, announced a new tax system with more tax slabs and lower tax rates. The majority of taxpayers have long requested this, but there is a catch: all deductions and exemptions from...
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Why Financial Planning is Important for Doing Business in India?
Financial planning for a business in India is key to its long-term viability. Without a strategy in place, it’s easy for a business to get derailed or lose sight of the bigger picture. By focusing on key assets, evaluating...
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Filing of Updated Income tax return- ITR U
Filing income tax returns is of utmost importance as you can avoid added interest, and penalties and portray a good image before the Government and lenders ( in case you apply for a loan). Accounting and tax compliance companies...
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12 A and 80G Registration of Non-Profit Organization
An NGO is a NON-Profit Organization, which functions independently and is involved in important voluntary activities for society. They can be group-based or individual. NGOs are registered as a society, trust, or Section 8 companies, which depends on the...
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What happens if I file my taxes wrong?
People usually end up making mistakes while filing their income tax returns (ITR). However, there is no need to worry as the tax department has made few provisions to allow taxpayers to rectify any mistakes or errors made during...
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How can you accomplish your financial goals in 2022-23?
The New Year brings with it new hopes, new aspirations, new habits, and also new goals. But are these only limited to personal and career accomplishments? One of the major goals to achieve every New Year is probably the...
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Wake up Sid!
February 7th, it a pay day today. The mobiles are delivering the messages of credit of Salary. … a half salary… a 3/4th Salary! “बहुत कट के आया है यार । ये TDS ने तो वाट लगा दी!”Asmita joined...
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Who will file my ITR after my death? What is the process?
Nothing is certain except Death and Taxes. A person can condemn his tax liability, even after his/her death. The legal heir has to pay tax liability and file the Income Tax Return A legal heir of the deceased person...
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TAX SAVING TIPS FOR SOLE PROPRIETORSHIP
A sole trader ship, also known as Sole proprietorship, is defined as the type of business owned and operated by a single person. The owner and the business entity have no legal distinction. Personal responsibility for sole proprietors is...
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