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CA SHARWAN

Section 234F Late Fees Payable For Default In Furnishing Of Income Tax Return

It is mandatory to note that the payment of income tax and filing of the ITR is two distinct and separate legal obligations under Income Tax. The duty of the taxpayer does not end up just by timely payment of the income tax. In fact, the law of income tax also mandates the taxpayer to file their IT return within the prescribed time limit. To make sure timely return filing… Read More »Section 234F Late Fees Payable For Default In Furnishing Of Income Tax Return

Input Tax Credit – Restriction on ITC Utilisation in Electronic Credit Ledger

The CBIC (Central Board of Indirect Taxes and Customs) vide notification no. 94/2020 on 22nd December, 2020 has introduced new rule which is Rule 86B. Rule 86B has been effective from 1st January 2021. According to the new Rule 86B, ITC has been reduced from 10% to 5% of eligible ITC if Input Tax Credit to be availed in respect of invoices does not uploaded by suppliers in their GSTR-1/… Read More »Input Tax Credit – Restriction on ITC Utilisation in Electronic Credit Ledger

Income Tax Benefits Available on Home loan

Taking a home loan can help you save tax according to the provisions of the Income Tax Act, 1961. In this article we will discuss the tax benefits available under the act. The repayment of Home Loan comprises of two components: 1. Repayment of Principal and 2. Repayment of Interest As the repayment consist of two various components, the tax benefit on home loan is taking care by various sections… Read More »Income Tax Benefits Available on Home loan

Registration Under UDYAM

Any business can be classified as Micro, Small or medium Business. You can take a look on the table in which classification of such ventures has been made as per the latest guidelines: Classification     Investment in plant, and equipment   Turnover Micro enterprise   Less than INR 10000000   Less than INR 50000000 Small enterprise   Less than INR 100000000   Less than INR 500000000   Medium enterprise… Read More »Registration Under UDYAM

What Is Presumptive Scheme For Taxation For Professionals And Can Every Professional Opt For It?

The laws of taxation offer a presumptive scheme of taxation for few professionals. In this article we will discuss about presumptive scheme for taxation for professionals and clear all the doubts. For professionals what is the presumptive scheme for taxation? According to the Section 44ADA of the Income Tax Act, specified professionals have the option to choose for a scheme under which they can offer 50% of your gross professional… Read More »What Is Presumptive Scheme For Taxation For Professionals And Can Every Professional Opt For It?

What is Affiliate Marketing?

Affiliate marketing is an advertising form in which a company compensates third-party publishers to generate traffic or leads to the products and services of company. The 3rd-party publishers are affiliates, and the commission fee encourage them to find ways to promote the company. The Internet has increased the vogue of affiliate marketing. If we take an example of Amazon then Amazon made this practice popular by creating an affiliate marketing… Read More »What is Affiliate Marketing?

Virtual CFO Service -A Smart Choice for the MSMEs

MSMEs a.k.a. Micro, Small and Medium Enterprises are considered to be the backbone of the Indian economy considering their valuable contribution to the country’s socio-economic development. An MSME is relatively a small scale organization where timely availability of funds and its proper management are extremely important for its long run sustainability and success. With the theme of the ‘Atmanirbhar Bharat’ in the year 2020, MSMEs have gained even more recognition… Read More »Virtual CFO Service -A Smart Choice for the MSMEs

FCRA Registration- All you need to know before getting Foreign Funds for NGO in India

There are various reasons for the current global platform to get focused on the environment, social & cultural causes. The world is joining hands to promote such activities like economic, social, cultural and environmental growth and prosperity and in the current scenario it is becoming elementary and accessible as well. As a result, in every country, the flow of the foreign currency in and out is now absolutely natural and… Read More »FCRA Registration- All you need to know before getting Foreign Funds for NGO in India

Business Registration Options For Crowd Funding

Section 8 Company is Company built with the purpose of promotion of commerce, art, science, sports, social welfare, religion, charity, education, research, protection of environment or any such other object. It is established mostly for charitable or not-for-profit purposes. What are the Features of Section 8 Company? Section 8 Company does not need a prescribed minimum paid-up share capital. Members’s liabilities of Section 8 Company are limited to their capital… Read More »Business Registration Options For Crowd Funding

How to Renew/Re-register DSC on Trademark e-filing Portal

Registration of DSC (Digital Signature Certificate) is pre-requisite for any Trademark Agent / Attorney, in order to be able to file varied forms, replies, etc. on online ‘filing portal of Trademark.’ In case when the originally registered DSC expired, new DSC is needed to be registered again on the online portal. Here we are discussing the process of re-registration of DSC. In order to register the Digital Signature Certificate for… Read More »How to Renew/Re-register DSC on Trademark e-filing Portal