by CA Chinmay Shirish Agate | May 23, 2021 | SMEs, Taxation
Simply put, Income Tax refers to the direct tax paid on income, to the government, within a given financial year (April-March). When the total income of a person from all sources of income exceeds the maximum amount permissible which is not chargeable to income-tax by...
by CA Chinmay Shirish Agate | May 23, 2021 | SMEs, Taxation, TDS
The fast growing global industry today is in the constant need of a software which can keep a track of the continuous changing laws and statutes which governs it. It is always beneficial to have a strong software working at the back office acting like a law manual as...
by CA Chinmay Shirish Agate | May 23, 2021 | SMEs, Taxation
Tax payer has the responsibility of preparing and filing his or her tax returns but the tax preparer has extended responsibilities. The tax preparers have the duty of preparing the tax and financial statements for the entire organization. This entire process would...
by CA Chinmay Shirish Agate | May 23, 2021 | GST, SMEs, Taxation
No doubt, GST has bought several non-tax payers into the Tax bracket. But, what about some genuine and necessary sectors which have been affected because of the GST? It has vitalized some FMCG companies, but what about the rest? More or less of the FMCG sectors have...
by CA Chinmay Shirish Agate | May 23, 2021 | SMEs, Taxation
The Indian Income Tax System places the incidence of tax based on the residential status of the assessee. If the assessee is Individual, it’s residential status is based on the number of days of his residence in India. However, in case of Companies, residential status...
by CA Chinmay Shirish Agate | May 23, 2021 | SMEs, Taxation
The Finance Act,2018 withdrew the exemption provided under section 10(38) of the Income Tax Act,1961 and inserted section 112A to tax Long term capital gain arising from transfer of listed shares, units of equity oriented mutual fund and units of business trust....
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