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Basics of GST – Slab Rates
Goods & Service Tax (GST) is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes such as the excise duty, VAT, services tax, etc. What are the final GST rate slabs? GST has been structured in a way that essential services […]
Section 193 – TDS on Interest
Section 193 deals with the provisions relating to TDS on interest on securities. Before going to the section lets understand what Interest on Securities means As per section 2(28B) of the Income Tax Act, “interest on securities” means any interest on security (issued by the government whether state or central) […]
Questions to ask, before going to Shark Tank India
Team Tell me a bit about your background and your co-founder(s)’s background. How do you all know each other? Why is your team uniquely motivated to solve this problem? Why did you pick your co-founder? Who do you need to hire during the next 18 months to be successful? When […]
Union Budget Summarised in 40 points
PART A The government’s focus on fintech, financial inclusion climate action find an early mention in Sitharaman’s prefatory remarks. The finance minister paints a robust picture of the economy as she starts her speech and adds this budget will lay the ground for the next 25 years. Sitharaman points to […]
Latest Blog Related to Taxation
September 2021 – Compliance Calender
Adhering to tax-related compliance proposed by the Indian government is mandatory for taxpayers in India. Taxpayers can also avoid heavy penalties and fines imposed by the government by filing their Income Tax returns on time. Here are some of the major due dates concerning various tax compliance for the September 2021
Section 54B: Exemption on Sale of Agricultural Land
A farmer wants to shift to another village for a certain reason and hence he sold his old agricultural land and from the sale proceeds, he purchased another agricultural land. In this case, the objective of the seller was not to earn income by the sale of old land but
Analysis of Section 54 of Income Tax Act
We all know that on selling or transferring Capital Assets either long term or Short term, capital gains arise which are taxable in the hands of the taxpayer. Let’s understand with the help of an example Mr. Jorden purchased a house for Rs. 50 Lakh in July 2012. The full