Company Registration Fees in India: Everything You Need to Know
Starting a business in India may be thrilling and challenging. One of the first and most crucial steps is company registration. It establishes the legal framework for your business operations and ensures that the government recognizes your initiative. However, the registration procedure can be complex, and the expenses associated with it can vary significantly depending […]
Explore the Different Types of GST Services in India
The Goods and Services Tax (GST) is a substantial tax reform implemented in India to establish a unified tax structure. It replaced various indirect taxes, making the taxation procedure simple and transparent. In this article, we will look at the several types of GST, its components, and how they have revolutionized the Indian tax system. Types of GST in […]
TDS on Purchase of Property – Section 194IA of the Income Tax Act, 1961
When purchasing a property worth more than Rs 50 lakh in India, buyers have to follow certain tax procedures. These also include Tax Deducted at Source (TDS) under Section 194IA of the Income Tax Act 1961. This mandate requires that buyers of property, whether residential or commercial deduct TDS at 1% if the property is worth Rs. 50 lakh […]
New TDS Rules for Social Media Influencers: What You Need to Know
With the increasing popularity of influencer marketing in India many social media influencers are constantly sent gifts, freebies, and promotional materials by companies. These are frequently given in exchange for promoting products or services on social media platforms such as Instagram, YouTube, and TikTok. Beginning July 1, 2022, influencers will be subject to a new tax system under Section 194R of the Income […]
TDS Rules for Service Providers: What You Need to Know
Tax Deducted at Source, or TDS is an important component of the Indian taxation system that service providers need to understand. This approach ensures that taxes are deducted at the point of payment, eliminating the burden of tax filing at the end of the financial year and ensuring that the government receives its revenue on time. For service providers—such as […]
Income Certificate vs. Income Tax Clearance Certificate: What You Need to Know
In India, when it comes to financial documents, two terms are often misunderstood or confused: Income Certificate and Income Tax Clearance Certificate. Though both serve as verification of an individual’s financial position, they differ in terms of purpose, issuing authority, and application. In this blog, we will discuss the variations between the Income Certificate and the Income Tax Clearance Certificate, how […]
A Simple Guide to the Online GST Registration Process for New Businesses
GST Registration – Overview With the growing landscape of the Goods and Service Tax Act, 2017 over the period of more than 7 years, GST registration has always been the topic in talks among professionals. The council from time to time has recommended possible measures to simplify the registration process and simplify the requirements for obtaining GST registration. With […]
Globalization & International Taxation: Why It Matters Now
The world is more interconnected than ever before, and the forces of globalization continue to influence many facets of our lives, especially business. Globalization has opened up numerous opportunities for businesses to develop, explore new markets, and maximize profits on a worldwide scale. However, this expansion creates new obstacles, particularly in terms of international taxation. Taxing worldwide business […]
Key Goals of International Taxation
International taxation is of great importance to the global economy, especially as cross-border activities by organizations, investors, and individuals are increasing. It can be challenging to coordinate different tax systems due to different rules in different countries. Understanding the primary purposes of international taxes can aid in compliance management, tax burden reduction, and financial strategy enhancement for international […]
Everything You Need to Know About GST Refund on Export of Services Without Tax
When dealing with exports, understanding the process of GST refund becomes crucial, especially for businesses providing export services. The GST law provides provisions for claiming refunds on zero-rated supplies to ease the burden on exporters. To claim a GST refund, it is essential to understand key terms such as export, place of supply, Letter of Undertaking (LUT), and other crucial elements like foreign exchange […]