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File ITR before 31st July 2022 to avoid late fees of 1000/5000

Kindly Attention: ITR Due Date may not be extended, File ITR before 31st July 2022 to avoid late fees of INR 1000/5000. For better understanding we have taken two character and through their conversation we will discuss the same. Two characters are Ram and Shyam. Shyam (Fictional Character): Ram, What is the buzz going around regarding Income tax return? Ram (Fictional Character): Shyam, The Due Dates for all Individuals, HUF’s… Read More »File ITR before 31st July 2022 to avoid late fees of 1000/5000

Original Equipment Manufacturer (OEM) Registration Process for Fame Subsidies

It is obvious that pollution is causing irreparable harm to the environment. One main factor adding to pollution is transportation, as this is absolutely dependent on Non-Renewable energy sources. India has realized this problem and has introduced effective plans to increase the usage of Electric Vehicles (EV). The plan is to encourage the manufacturing and use of Electric Vehicles, Establish the required Infrastructure and educate the citizens. All this is… Read More »Original Equipment Manufacturer (OEM) Registration Process for Fame Subsidies

New TDS Rules to affect Doctors and Social Media Influencers

The new Tax Deducted at Source i.e. TDS section 194R introduced in the Budget, 2022 will be applicable from 1st July 2022, requiring a deduction of 10% by any person (resident or non-resident) who provides benefit or perquisite to a resident person in a year exceeding INR 20,000 will be liable for TDS under section 194R. What does Benefit & Perquisite mean? Any benefit given by a person to a… Read More »New TDS Rules to affect Doctors and Social Media Influencers

Cryptocurrency Terms to Know Before You Start Investing

Want to invest in cryptocurrency but terms like bitcoin, Ethereum blockchain, gas, minting, and mining looks confusing to you? If your answer is yes, then you must first learn these terms used in the cryptocurrency ecosystem. Let us begin with ‘cryptocurrency’. It is a kind of currency that is encrypted and digitized for trading. It uses algorithms to invigilate the creation and transfer of funds between buyers & sellers. All… Read More »Cryptocurrency Terms to Know Before You Start Investing

Section 234A- Interest for Delay in Filing the Return of Income

In section 234A, interest is levied for delay in filing the ITR, filing of an updated return or filing of a return in response to notice issued u/s 142(1). In other words, if the taxpayer files the ITR after the specified due date then the interest u/s 234A will be levied. Rate of interest -Interest u/s 234A is levied for delay in filing the ITR. Interest is levied @1% per… Read More »Section 234A- Interest for Delay in Filing the Return of Income

Importance of Company Registration

Company Registration is a good step towards business if you do it properly planned registration. We have made an effort to find out the best options before coming into company formation. To decide which is better, Proprietorship or Partnership or Private Limited or OPC company?  What kind of license need like FSSAI? ISO? Start-up? What is the cost?  Come let’s talk about it. The Benefits under Company Registration Legal Entity… Read More »Importance of Company Registration

What to Know About Crypto Currency and Scams

Crypto currency is a digital currency that exists only electronically. Cyrpto currency is no physical coin you use a service that allows you to cash in crypto currency for a physical token. We generally exchange crypto currency with someone online, via phone or computer, without using an intermediary such as bank. Bitcoin and Ether are one of the popular crypto currencies, but there are many different crypto currency brands, and… Read More »What to Know About Crypto Currency and Scams

Incorporation of Private Limited Company – FAQ’s

In this competitive corporate world starting a new business as single entrepreneur is not a good idea. Because in case of proprietorship business, liability of business owner is unlimited and they also struggle to get the funds and better human resources. Nowadays, many people are preferring to join a corporate entity instead of joining a proprietorship business. In this article, we will discuss about the FAQ’s related to Incorporation of… Read More »Incorporation of Private Limited Company – FAQ’s

Minimum Alternate Tax

Minimum Alternate Tax is also known as MAT is a provision that is in direct tax laws which is for companies, MAT is the provision for limit the tax exemptions which is availed by the companies. The provision requires that the company will not avail more exemption and they should pay at least minimum amount of tax to the government. U/S 115JB, the company has to pay essentially corporate tax… Read More »Minimum Alternate Tax

Is Income Tax Return Filing Difficult in India?

Income Tax Return is when a person is supposed to submit to the IT Department of our nation. It withholds the information of income of person and the taxes that are to be paid during the year. The essential thing you need to keep in mind is; the information filed in income tax return should and always pertain to a particular financial year, and that is, start from the 1st… Read More »Is Income Tax Return Filing Difficult in India?