Finding out if someone or something lives in India is key for income tax. This affects how much tax they pay. It’s very important when filing taxes, as it helps figure out what taxes they owe. “Residential status” means how the tax system sees someone or something in India. It’s not the same as being […]
Determine Residential Status & Tax Impact in India Read More »
The recent budget in India has brought big changes to partner pay and tax deducted at source (TDS) for partnership firms. These updates, found in Sections 40(b) and 194T of the Income Tax Act, will greatly affect how partnership businesses and their partners handle taxes and follow the rules. The 2024 budget plans to raise
Partner Remuneration Changes: Budget & TDS Impact Read More »
We discuss the applicability of Income Tax on immovable property in India in this Article. These rules cover things like TDS under Section 194-IA and tax on the property’s market value. There’s also capital gains tax under Section 50C. It’s important for anyone, going to buy a property in near future to know these taxes.
Income Tax on Immovable Property in India Read More »
The Union Budget 2024-25 brings big changes in GST (Goods and Services Tax). These updates aim to make things simpler for businesses and more transparent for everyone. Key changes include a new GST Section 74A for clearer tax rules, updates to Sections 73 and 74 for notices, and a longer time to claim Input Tax
Key Changes in GST: Budget 2024 – What to Know Read More »
The Indian Budget 2024 has brought big changes in income tax Act. Finance Minister Nirmala Sitharaman has made the tax system friendlier for taxpayers. She aimed to help salaried workers, professionals, and the middle class. These changes include new income tax brackets, higher standard deduction limits, and updates on capital gains tax. They also aim
Key Changes in Income Tax in the Indian Budget Read More »
Artificial intelligence (AI) is changing the game in many fields, including tax and accounting. By 2023, AI has become key for tax and accounting experts. It helps make tasks easier, more accurate, and lets pros focus on important work. AI has changed how we handle routine tasks, analyze data, and manage risks in accounting, auditing,
Impact of AI on Accounting, Auditing and Taxation Read More »
