Category Taxation

SMEs, Taxation

Things to Know Before You File ITR

Getting income in your account every month is really too comforting, but filing the income tax returns for the same annually is quite a pain! However, if you know the easy ways to file your ITR accurately then there would…

CA Rahul
July 13, 2022

Taxation

Is ITR applicable to you?

New ITR forms are live. Don’t forget to file the Income Tax Return this year. Keep all the required documents handy before filing your Tax Return. If you are one of the below-mentioned person, you should consider filing the ITR…

CA Rahul
July 1, 2022

Taxation, TDS

What happens if the income tax return is not filed in India?

Today you need to file your income tax returns attentively and on time if you are a citizen of India with a source of income. The consequences of failing to file your taxes might be severe. Your income will be…

CA Rahul
June 20, 2022

SMEs, Taxation

ITR refund: Everything that you should know

An individual may pay more tax than they are obligated to pay at times. You can seek an income tax refund if your advanced tax or tax deducted at source (TDS) is greater than the amount you owe. ITR refunds…

CA Rahul
May 19, 2022

Taxation

Income Tax Changes – Budget 2022

Rationalization of provisions of TDS on sale of immovable property In order to remove inconsistency, it is proposed to amend section 194-IA of the Act to provide that in case of transfer of an immovable property (other than agricultural land),…

CA Rahul
February 18, 2022

GST, SMEs, Taxation

Concept of Supply under GST Part-II

In this part, we shall discuss the clause (b) and clause (c) of Section 7 of the CGST Act 2017 Section 7, (For the purpose of this section, supply includes………As per clause (b ) of Section 7 of the CGST…

CA Rahul
September 13, 2021

GST, SMEs, Taxation

Concept of Input Tax credit-PART I

Under the Indirect taxes mechanism, the taxes are levied at every stage of value addition. This is applicable in case of supply of goods as well as services. Thus it is important to understand that tax and the value addition…

CA Rahul
September 13, 2021

GST, SMEs, Taxation

Composite and Mixed Supply under GST

The determination of taxability of transactions, involving multiple goods or services or a combination of goods and services has always been a challenging aspect under the indirect taxes. As far as the Pre-GST regime was concerned, the taxable events like”…

CA Rahul
September 13, 2021

GST, SMEs, Taxation

Impact of GST on Small and Medium Businesses in India

The online platforms like Quora, Reddit and similar other are overflowing with questions like – Do I need a GST number for my small business? Who are liable to register under GST in India? How to register for GST in…

CA Rahul
September 10, 2021

GST, SMEs, Taxation

GST (Goods and Service Tax) in India: What, Why, How?

GST stands for Goods and Service Tax, a new tax reform to be implemented from 1st July, 2017.The new tax system will affect businesses and individual buyers to large extent due to many structural changes and ambiguities regarding the new system prevalent…

CA Rahul
September 10, 2021