CA VK Agrawal

What are the Advantages of GeM Registration?

For empowering small traders & manufacturers, the central government launched a transparent e-Marketplace which is known as GeM. Government e-Marketplace is commonly known as GeM. Any small trader or manufacturer can get a GeM registration for their business in very easy way. What Is Gem? The Government e-Marketplace (GeM) is commonly an e-commerce portal operated by the GoI. It is an online platform where sellers & government buyers meet to… Read More »What are the Advantages of GeM Registration?

Salary Income – Answer to Common issues

In this article we will explain what is Salary Income? What are allowance? What is TDS on Salary, Taxability of Reimbursement of Expenses? What is Form 12BB? When relief under Income Tax Act- section 89 is available, standard deduction on Salary, effective date of enhancement of limit of gratuity from INR 10 lacs – INR 20 lacs for purpose of tax exemption computation u/s 10(10)(ii) etc. A salary is a… Read More »Salary Income – Answer to Common issues

Taxation of Gains on Crypto Currencies

A crypto currency establishes themselves as a new form of digital money. With crypto currencies, an individual may be able to get rid of banks & other centralized middlemen altogether. This is happening because crypto currencies rely on a technology named as block chain, which is decentralized (meaning no single entity is in charge of it). Millions of Indians have invested in crypto currencies and have made large gains in… Read More »Taxation of Gains on Crypto Currencies

The Rise of Crypto Currency in Business

Nowadays numbers of companies globally are using bitcoin and other digital currencies for the purpose of investment, operation, and transaction. Why consider using crypto? Crypto currencies are growing day by day and number of companies are using bitcoin and other crypto currencies for investment and other kind of activities. The use of crypto for managing business presents a host of opportunities & challenges. As with any things, there are two… Read More »The Rise of Crypto Currency in Business

Setting Up of Business in India

India got ranking on the World Bank’s Doing Business Report, India has improved from 142nd position in 2014 to 63rd position in 2020. The ease of doing business index of India has been improved over the past few years. To set up business in India needs diverse process and procedures, which should be adhered to so your business can run with ease and result in maximum profits with smooth compliances.… Read More »Setting Up of Business in India

All About Investment In Equity Shares & Tax Planning

During the time slot of COVID-19 Pandemic record breaking DEMAT a/c and Trading accounts have been opened in Share Market in India. As per data of SEBI, till January 2021 total 15 crores DEMAT accounts have been opened in India out of that approximately 1.42 crores new DEMAT accounts have been opened in Year 2021 itself. You can directly invest in Share market or via mutual funds. People are earning… Read More »All About Investment In Equity Shares & Tax Planning

Section-8 Company-Incorporations and Myths

Section 8 companies are those companies which are incorporated with a goal to promote arts, commerce, charity, sports, welfare, environment protection, education, medicines, etc. The company’s income or money raised by doing events, receiving donations can’t be used for paying out dividends among the members of the company. The money raised should be used for the purpose of promotional and charitable. Section 8 companies can get their incorporation certificate from… Read More »Section-8 Company-Incorporations and Myths

Section 194N: TDS on Heavy Cash Withdrawal from Banks/ Post Offices

Through the amendment in the Finance Act, 2020 section 194N was amended by substituting section 83A which imposes TDS at the rate of 2% on withdrawal of sum amount exceeding INR 1 crore. This section has been effected from 1st July 2020. Every person including – Individuals HUF i.e. Hindu Undivided Family Company Partnership firms or Limited Liability Partnership (LLP) Local authorities Any AOPs (Association Of Person) or BOI (Body… Read More »Section 194N: TDS on Heavy Cash Withdrawal from Banks/ Post Offices

E-way Bill System – GST E-way Bill Rules & Generation Process & FAQs

‘E-way bill’ is popularly known as ‘Electronic Way Bill’. The main motto behind the e-way bill under GST is controlling tax evasion; tracking the movement of goods and ensuring adequate compliance with the GST law. E-way Bill System- An e-way bill can be generated as and when there is a movement of goods whose value is more than INR 50,000 through a vehicle or conveyance. The movement of goods can… Read More »E-way Bill System – GST E-way Bill Rules & Generation Process & FAQs

Tax Exemptions Available For Startups in India

As per the Section 2(40) of Companies act, 2013, startup means A private company which is registered under company act, 2013 or any previous act Recognized as startup in accordance with DIPP (Department of Industrial Policy and promotions). In order to accelerate prevalence to startup movement in India, Government had announced an action plan known as the Startup India initiative that covers all the aspects of startup ecosystems. The main… Read More »Tax Exemptions Available For Startups in India