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By introducing uniformity and openness to the Indian tax system, the GST (Goods and Services Tax) has transformed the outlook of the Indian tax system. It is amongst the most major tax reforms implemented to eliminate the previous tax system's cascading effect. Since the implementation of GST in India, the…

Funding is essential for a company to not only invest and expand but also to run its day-to-day operations. When a firm needs to raise money, it may consider debt, stock, venture capital, and other methods. Banks, non-banking financial companies, debt funds, and companies are increasingly relying on private placements…

TDS was created with the goal of collecting tax directly from the source of revenue. According to this notion, a person (deductor) who is required to make a payment of a certain sort to another person (deductee) must deduct tax at source and send it to the Central Government's account.…

A new tax planning comes into force by inserting a new section in Income Tax Act, 1961, which is known as Section 115BAC of Income Tax Act, 1961. The main characteristic of this new tax system issued by the Income Tax Department is that it has lower tax rates than…

The Limited Liability Partnership (Amendment) Rules, 2022 have been published by the government. Further, Rules 5, 18, 19, and 37 have been amended. Moreover, new regulations are introduced regarding the allotment of a new name to an existing LLP under Section 17 (3), the adjudication of penalties, the appeal against…

Are you in a confusing state and not able to make up your mind, whether to file ITR, Or did you hear elsewhere that if your income is less than the basic exemption amount, you should forego submitting your Income Tax Return? Before you decide not to submit your ITR,…

You'll need one thing for each of these activities, whether you're trying to buy a car or a house, participate in the stock market, or convert your Indian rupees to foreign currency. You may wonder how these two have a connection. The PAN card is the solution. Let us discuss…

Foreign Direct Investment (FDI) seems to have been a significant non-debt financial resource towards India's national economy, especially in addition to being such a crucial driving force behind economic. Attracting investment in India primarily benefit from lower salaries and unique structural reforms such as lower taxes, among other things. Moreover…

Some employees on the payroll of group firms (including management and non-management cadre) work for the Parent company. We can recover the cost of such personnel from the Parent firm by raising a debit note on an actual cost basis. Let us discuss TDS Implication on Reimbursement of Employees in…

The Reserve Bank of India will process in the Legal Entity Identifier (LEI) system for all investors in the currency financial derivatives, foreign exchange derivative instruments, and structured finance over-the-counter growth in India. So due to the severe recession, the LEI code is design as a primary parameter to enhance…