Regressive Tax – Types and Working with Examples
Regressive tax implies a system where the tax rate goes down as the taxable income increases. That�... Read More »
Tax Benefits under Section 80CCD(1B) of Income Tax Act
Many salaried and non-salaried people invest in the National Pension Scheme or NPS to secure their ... Read More »
Section 148 of Income Tax Act
Have you recently received a notice from the Income Tax Department stating that your previously fil... Read More »
Relief under Section 89 of Income Tax Act
When taxpayers receive any part of their salary in advance or in arrears, they can claim relief und... Read More »
What is Public Finance and its Components & Functions
Public funds play a significant role in the growth and development of a country. Public funds, if m... Read More »
What is Tax Incidence and How is it Calculated?
Tax incidence helps to understand how the tax burden is shared between producers and consumers or b... Read More »
Section 115BA of Income Tax Act: Meaning And Eligibility
Are you planning to set up a manufacturing business? While market research and coming up w... Read More »
Supply Under GST: Meaning, Scope, Types and Taxability
To deal with the multi-faceted indirect tax policies, the Indian government introduced the Goods an... Read More »
Who is Considered as Income Tax Assessee Under the Income Tax Act?
An income tax assessee is someone who needs to pay taxes or any sum of money to the gover... Read More »
Net Operating Income (NOI): Formula and Calculation with Examples
Analysing investment opportunities and asset performance helps you in making informed investment de... Read More »
Gift Tax: Meaning, Different Gift Tax Rates & Stamp Duty Provisions In India
Individuals exchange gifts as a part of a celebration or during significant events. One gives gifts... Read More »
How to File a Nil GST Return?
Nil GST return can be filed when there are no outward supplies during the month or quarter, for whi... Read More »
GSTR-4 – Annual Return Filing, Format, and Due Date
The GSTR-4 includes invoice-level information on the purchases a composition vendor makes from othe... Read More »
What is GSTR-2A and How to File GSTR-2A Return?
GSTR-2A is an auto-generated statement of a company’s purchases sourced from the details furnishe... Read More »
GST PMT-06 Form – Benefits, Eligibility Criteria, and How to Use
Under the Goods and Services Tax (GST), the PMT-06 challan is used for making payment of tax, inter... Read More »
What is GST Compensation Cess and How is it Calculated?
GST compensation cess created an efficient mechanism to ensure equitable revenue distribution while... Read More »
Understanding GST Accounting – How to Pass Entries Under GST?
Under the GST regime, the GST replaced all taxes including, VAT, excise duty, and service tax. The ... Read More »
Asset Turnover Ratio: Meaning, Formula and How to Calculate
Asset turnover ratio is the ratio between the company’s net sales and the value of its assets. It... Read More »
Adjusted Gross Income (AGI) Explained with Calculations and Examples
The AGI full form is Adjusted Gross Income, and it is the metric used by the concerned tax authorit... Read More »
Understanding E-Invoicing Under GST: Meaning, Benefits and Documents Required
E-invoicing under GST was made mandatory for companies with a turnover of Rs 5 crore and above. Thi... Read More »
What is GSTR-2B? Know the Difference between GSTR-2A and GSTR-2B
GSTR-2B is a month-by-month auto-drafted statement introduced on the GST (Goods and Service Tax) po... Read More »
Offset Your Tax Liabilities Through Tax Loss Harvesting
The Union Budget's amendment of 2018 announced taxation on long-term capital gains above Rs.1 lakh.... Read More »
Know The GST Rates And SAC Codes Of Different Services
The SAC Code System is planned and maintained by the Service Tax Department of India. Under service... Read More »
A Comprehensive Guide On UTGST Act In The Union Territories Of India
The UTGST Act expands the Union Territory Goods and Service Tax. UTGST, Union Territory Goods and S... Read More »