Income Tax
How to handle capital gains tax in Bangalore?
Introduction Capital gains tax management is a crucial aspect of financial planning for individuals and businesses in Bangalore, a vibrant city known for its entrepreneurial ecosystem and investment opportunities. Whether you're selling stocks, real ...
What are the tax benefits for businesses in Bangalore?
Introduction Bangalore, the vibrant tech hub of India, offers a conducive environment for businesses to thrive. Beyond its innovative ecosystem and skilled workforce, the city also provides attractive tax incentives and benefits to bolster ...
What are the documents required for income tax filing in Bangalore?
INTRODUCTION: Filing income tax returns is an essential responsibility for every taxpayer in India, including those residing in Bangalore, the vibrant tech hub of the country. Whether you're a salaried individual, a freelancer, or a business owner, ...
Tax Implications of Foreign Exchange Gains and Losses in Bangalore
Deciphering Tax Implications of Foreign Exchange Gains and Losses in Bangalore In Bangalore's vibrant economic landscape, where businesses engage in global transactions, understanding the tax treatment of foreign exchange gains and losses is ...
General Anti-Avoidance Rules (GAAR) in Bangalore
Navigating Compliance: General Anti-Avoidance Rules (GAAR) in Bangalore In the ever-evolving landscape of taxation, staying compliant with regulations is paramount for businesses, especially in dynamic hubs like Bangalore. Among the regulatory ...
Modern or Unconventional Ways To Save Your Taxes
It’s that time of the year again – Tax Planning. With the financial year-end around the corner, all of us start planning our tax savings now. As a salaried employee, before anything, you should understand your tax slab and meaning of your salary ...
Representation in Income Tax Tribunal Cases in Bangalore
INTRODUCTION Income tax tribunal cases in Bangalore are crucial legal proceedings that require adept representation to ensure fair adjudication and favorable outcomes for taxpayers. The Income Tax Appellate Tribunal (ITAT) plays a pivotal role in ...
Compliance with Payment of Wages (Payment of Gratuity) Act in Bangalore
Payment of Gratuity Act 1972 is an Indian law that regulates the payment of gratuity to employees in India. The Act ensures financial security to employees who have completed a minimum service period in an organisations. It applies to factories, ...
Navigating Tax Compliance for Non-Profit Organizations in Bangalore
INTRODUCTION Non-profit organizations play a crucial role in serving communities and addressing various social issues. However, despite their altruistic intentions, they are not exempt from tax obligations. In Bangalore, like elsewhere in India, ...
Partnership Firm Taxation in Bangalore
Taxation for partnership firms in Bangalore, India is governed primarily by the Income Tax Act, 1961 as well as any local or state-specific tax laws. Here's a breakdown of key aspects of taxation for partnership firms in Bangalore: Income Tax Rate: ...
Corporate Income Tax Planning in Bangalore
Corporate income tax planning in Bangalore, or any other location, involves strategic financial management to optimize a company's tax liability within the legal framework. Here are some general guidelines for corporate income tax planning that ...
Income Tax Consultation in Bangalore
income tax consultation in Bangalore, where expert guidance meets the unique tax landscape of this vibrant city. Bangalore, known as India's Silicon Valley, boasts a dynamic economy filled with diverse income streams and innovative ventures. ...
Tax Treatment of Foreign Exchange Gains and Losses in Bangalore
In today's globalized economy, businesses and individuals often engage in international transactions, leading to exposure to foreign exchange fluctuations. In Bangalore, a prominent hub for businesses in India, understanding the tax treatment of ...
Tax Compliance for Educational Institutions in Bangalore
Educational institutions play a vital role in shaping the future, but behind the scenes, they must navigate a complex landscape of tax regulations to ensure smooth operations. In Bangalore, India, these institutions are subject to various tax ...
Income Tax High-Value Transactions: Submit Response Under e-Campaign (Compliance Portal)
The income tax department uses various data analysis techniques to trace individuals who have not filed income tax returns or have underreported their income. As part of this effort, the department is collaborating with different government agencies ...
TDS Rate Charts for the FY 2023-24 Onwards
TDS stands for Tax Deducted at Source. Tax deduction at source (TDS) means collecting tax on income in the form of salary, rent, asset sales, dividends, etc., by requiring the payer to collect income tax due on such income while crediting/paying to ...
How to Start Travel Business?
A travel agency helps its personal clients plan the vacation of their dreams, and helps its corporate clients lower the costs of its business travel. Travel agencies can provide their clients with discounted rates, improved booking options, ticket ...
How to Apply New PAN Card?
PAN Card is a nationalized identity card. Without a PAN (Permanent Account Number) you will not be able to carry out any financial transaction. It is the Indian Income Tax Department that allocates this 10-digit alphanumeric and unique account number ...
How to Download PAN Card?
Procedure to download e-PAN card through the NSDL or UTITSL portal. e-PAN card is a digitally signed Permanent Account Number (PAN) which is issued in an electronic form. The e-PAN card is a valid proof of allotment of PAN. Download e-PAN Card by ...
Avoid the 20 Percent TCS on Overseas Tour Packages
Prepare to allocate more funds for your upcoming foreign vacation starting next month. Commencing on July 1, 2023, an increased tax collected at source (TCS) rate of 20% will apply to overseas tour packages. Currently, when booking a foreign tour ...
Home Loan Benefits in Tax
Home Loan Benefits in Tax A home loan comes with several benefits related to taxes, which can significantly reduce the financial burden of owning a property. These benefits vary by country, so I'll provide a general overview of the common tax ...
Company Tax Return for Listed Companies in India
Company tax return for listed companies in India Filing a company tax return for listed companies in India involves specific steps and considerations, as these companies are subject to additional regulations and reporting requirements due to their ...
Best Electronic Payment Systems in India
Electronic Payment Systems, also known as digital payment systems or electronic funds transfer (EFT) systems, are platforms that enable individuals, businesses, and organizations to make and receive payments electronically. These systems have ...
Best Financial Analysis and Modelling Tools
Financial analysis and modeling tools are essential for businesses, investors, and financial professionals to analyze data, make informed decisions, and create financial models that can help with forecasting and planning. Here are some popular ...
Best TDS Software for CAs & Professionals in India
The thing which needs efficiency, precision and adherence to the laws of Tax Governance is called dealing with Tax Deducted at Source (TDS). TDS opposite on specific incomes required complete estimation and authenticity, indifference may point to ...
Best Income Tax Software for Tax Filing in India
In the current era, people need ready data to execute their chores easier and in less time. Work in distinct companies is executed through distinct capable software. On the other side, Chartered accountants are also working with the help of income ...
How To Compute Actual Allowable HRA Deduction in Salary
If you're a salaried individual, you can claim House Rent Allowance (HRA) to meet your rented accommodation-related expenses. Salaried individuals who live in a rented house can claim this exemption and bring down their taxes.HRA can be fully or ...
Powers of the Enforcement Directorate Under Various Laws
INTRODUCTION The object behind the formation of the Directorate of Enforcement was to create a body capable of enforcing the provisions of two special fiscal laws, i.e., the Foreign Exchange Management Act, 1999 (FEMA) and the Prevention of Money ...
Prevention of Money Laundering Act, 2002 (PMLA)
Prevention of Money Laundering Act, 2002 (PMLA) was enacted to fight against the criminal offence of legalizing the income/profits from an illegal source. The Prevention of Money Laundering Act, 2002 enables the Government or the public authority to ...
GST Network Brought under PMLA Act
Govt brings GSTN under PMLA, enables sharing of data with investigating agencies Aiming to plug tax evasion through fake billing, Centre has brought the GST Network (GSTN) under the purview of Prevention of Money Laundering Act (PMLA). This will give ...
Tax Implications on Sale of Unlisted Equity Shares
Extract from Income Tax Act Insertion of new Chapter XII-DA. 31. After Chapter XII-D of the Income-tax Act, the following Chapter shall be inserted with effect from the 1st day of June, 2013, namely:— 'CHAPTER XII-DA SPECIAL PROVISIONS RELATING TO ...
Types of Form 16 in India
Form 16, Form 16A and Form 16B are all certificates of tax deducted at source on your income from different sources. All three of them vary in terms of purpose, eligibility, and where they are applicable. Form 16: The TDS Certificate for your Salary ...
Income Tax Filing For Tax Planning In India
What is Tax Planning? Taxes can eat into your annual earnings. To counter this, tax planning is a legitimate way of reducing your tax liabilities in any given financial year. It helps you utilise the tax exemptions, deductions, and benefits offered ...
Income Tax Filing For Business Owners In India
As a business owner in India, you are required to file an income tax return (ITR) every year. The ITR is a document that declares your income and expenses for the financial year. It is used by the government to calculate your tax liability and assess ...
Income tax filing for senior citizens in India
The Indian Income Tax Act gives certain tax benefits to Senior Citizens and also tries to ensure that income tax e-filing is a hassle free process. The complete list of all the tax benefits available to senior citizens is compiled in this article. ...
Corporate Taxation & Compliances
1. TAXABLE PERIOD In India, the tax year begins on 1 April and ends on 31 March. 2. TAX RETURNS Accounts for tax purposes must be made up to 31 March. For persons having business/professional income, the income tax return is required to be filed ...
Income Tax Filing For Self-Employed Individuals In India
Filing income tax returns is an essential obligation for every citizen of India, including self-employed individuals. The process of filing taxes can be complex, but understanding the requirements and following the necessary steps will ensure ...
Income tax e-filing in India
Online Income Tax Return Filing India An income tax return is a form that enables a taxpayer to declare his income, expenses, tax deductions, investments, taxes, etc. The Income Tax Act, of 1961 makes it mandatory under various scenarios for a ...
Self-Employed Taxes in India: What You Need to Know
Self-Employed Taxes in India: What You Need to Know Introduction: Being self-employed in India comes with numerous benefits and opportunities. However, it also entails additional responsibilities when it comes to taxes. Understanding the tax ...
Exploring Different Income Tax Filing Methods
Introduction: When it comes to filing income tax returns, individuals have various options to choose from. The method you select depends on your comfort level, financial situation, and the complexity of your tax return. In this blog, we will explore ...
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