by CA Chinmay Shirish Agate | May 22, 2021 | SMEs, Taxation
The new Direct Tax regime proposed in Budget 2020 is an option to continue existing or choosing the new tax regime. There may be confusion as to which regime is more beneficial than other. Under the old tax regime, the salaried individuals can continue paying taxes,...
by CA Chinmay Shirish Agate | May 22, 2021 | SMEs, Taxation
The Finance Bill, 2020 has brought a major amendment to section 44AB of the income tax act. After insertion of such changes, Tax Audit limit has been increased from Rs 1 crore to 5 crores provided the taxpayer has Cash receipts which is not more than 5% of...
by CA Chinmay Shirish Agate | Mar 25, 2021 | SMEs, Taxation
Any organization, small or big may have several business processes that may require lot of manual efforts and workforce. This calls for paying out hefty salaries and other employee benefits. The software developers have come up with handy solutions for this...
by CA Chinmay Shirish Agate | Mar 25, 2021 | GST, SMEs, Taxation, Technology
What is GST? Term GST stands for the Goods and Services Tax. GST bill was passed on 6th May 2015 in Lok Sabha. Once the bill is implemented it can give some major advantages to businesses. GST is basically a value-added Tax which is taxed at different check points in...
by CA Chinmay Shirish Agate | Mar 9, 2021 | GST, SMEs, Taxation
During the last few months there were several media reports relating to the electronic invoice (‘e-invoice’) in the GST law. The e-invoice system will first be rolled out, on a voluntary basis, from January 1st 2020 for the business houses with an annual turnover of...
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