What is QRMP Scheme under GST?
On January 1 2021, the Central Board of Indirect Taxes and Customs (CBIC) introduced the Quarterly ... Read More »
What Is RCM Under GST? How To Show RCM Sales While GSTR Filing?
The Goods and Services Tax (GST) is the indirect tax levied on the supply of goods and services thr... Read More »
What Is GST HSN Code And How To Find HSN Code?
The Harmonised System of Nomenclature (HSN) is an internationally recognised system of names and nu... Read More »
Understanding HUF Tax Benefits for Reducing Taxable Income
One of the best ways to reduce your tax liability is by forming a HUF(Hindu Undivided Family). Memb... Read More »
What Is the GST Application Reference Number (ARN) And How To Apply For It?
GST ARN refers to Application Reference Number which is a 15-digit unique code assigned to you to e... Read More »
Types Of Information Provided In An Annual Information Statement – Benefits And Salient Features
An Annual Information Statement mentions details of financial transactions such as salary details, ... Read More »
What is ITR-5 Form and How to File ITR-5?
Filing an income tax return is mandatory for all taxpayers. The tax collected by the Government pro... Read More »
How to File GSTR-3B Online and Offline – A Detailed Guide
Taxpayers registered under the GST regime must file a self-declared GST returns monthly summary. Th... Read More »
Agricultural Income Tax Treatment In India – A Detailed Overview
India is an agricultural economy, meaning most citizens earn their living from producing crops and ... Read More »
What is Tax Evasion and What are the Penalties?
Tax evasion is a heinous crime that has put many behind bars. It refers to fraudulent filing for ta... Read More »
What are IGST, SGST and CGST and What Are the Differences?
In line with the ‘One Nation One Tax’ policy, the Indian Government implemented GST (Goods and ... Read More »
GST Composition Scheme: A Perfect GST Scheme For Small Businesses
The composition scheme under GST has been introduced to safeguard the interests of small businesses... Read More »
GST Cancellation Rules And Norms That You Should Be Aware Of
GST or Goods and Services Tax has eliminated multiple taxes and has brought all goods and services ... Read More »
Form 61 Explained: What Is Form 61 And What Are The Documents Required?
A PAN Card is a legal identification number required to make any financial transaction in India exc... Read More »
Tax-Free Bonds: How To Invest And Redeem Them?
Bonds are investment instruments issued by corporates and governments to raise funds. Prospective i... Read More »
Form 61A: Sections And Specified Financial Transactions (SFT) In Form 61A
Persons or entities that affect high-value transactions and are liable for an audit of their financ... Read More »
How To File GSTR-9 And What Is The Penalty For Late Filing?
GSTR-9 is the annual return that must be filed by all GST-registered businesses. The return is a su... Read More »
Goods And Services Tax (GST): Rates, Registration, Eligibility, Benefits And Returns
India implemented GST (Goods and Services Tax) on July 1, 2017. This indirect tax was introduced to... Read More »
Deductions From House Property Income Under Section 24 Of The Income Tax Act
To encourage the citizens to own a home, the Government of India has introduced a host of home loan... Read More »
What Is Section 234F Of The Income Tax Act? How To Pay The Penalty Online?
It is mandatory for all taxpayers to file their income tax returns within the prescribed time limit... Read More »
Chapter 6A of the Income Tax Act – Definition and Deductions
Every individual and entity (company, partnerships, HUFs) are liable to pay income tax as per exist... Read More »
What Is ITR 3 And How To File For A Return With ITR 3?
In India, every taxpayer needs to file Income Tax Returns or ITR forms disclosing their income-rela... Read More »
Step-by-Step Guide To File ITR 4 Form For AY (2022-23)
ITR-4 Form is an Income Tax Return form that is meant for taxpayers opting for the presumptive taxa... Read More »
A Step-By-Step Guide To e-Filing Of Income Tax Return On New Tax Portal
Under the Income Tax Act, 1961, it is mandatory for taxpayers to file Income Tax Returns (ITR) for ... Read More »