Submit LUT for Exports without payment of GST (Updated)

Export sales are considered as a case of Inter-state sale under GST and are therefore covered under the IGST Act. As per the IGST Act, the export of goods and… Read More

Why is Cess and Surcharge levied separately?

The Constitution of India grants the power to the Union to raise revenue by levying cess. Article 270 of Constitution of India states that the Government can collect tax in… Read More

Special Provisions for Tax on sale of Shares/Mutual Funds by NRI

When a NRI invests in the stock market of India, he is subject to capital gain tax on the profit earned through trading done in India. There are two types… Read More

E-Way bill GST implementation: Are the businesses prepared for GST E-Way Bill?

One might wonder about the reason of early implementation of E-Way Bill because initially the government had planned to introduce it from April 2018. But instead in the GST council… Read More

What is Take Home Salary and How to increase take home salary?

Take home salary is the amount received by an employee after subtracting all the deductions from his package or CTC (Cost to Company). The formula for computing the take home salary… Read More

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Tax on Property Transaction below Circle Rate: Section 50C, Sec 56

This article highlights the income tax treatment on purchase/sale of a property below the Stamp Duty Value under Section 50C & Section 56(2)(x). Before the explaining the treatment, lets first… Read More

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Rs. 40,000 Standard Deduction in Income Tax – Budget 2018

A Standard Deduction is basically a deduction allowed in Income Tax irrespective of the expense incurred or the investment made by the Individual. No Disclosures/ Investment Proofs/ Expense Bills are… Read More

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7 Special Tax benefits for Senior Citizens – Updated

The Indian Income Tax Act gives certain tax benefits to Senior Citizens and also tries to ensure that income tax e-filing is a hassle free process. The complete list of… Read More

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Section 44AE: Tax on Income of Transporters – Updated

Section 44AE, Section 44AD & Section 44ADA deal with Presumptive Taxation of Business. Section 44AE is applicable for Business of plying, hiring or leasing goods carriages whereas Section 44ADA is applicable… Read More

What is a Chit Fund? Should you invest in Chit Funds?

A chit fund is a collective instrument tool where there are two participants, one is the organizer and the other is the member. There are various members who collectively come… Read More

How Seasonal Businesses can use Flexi Loans to boost Revenue

A seasonal business, like a Christmas decorations shop, a ski lodge, or even a tax preparation office, would have their revenue inflow only on a seasonal basis. Thus, they may… Read More

How to start a company in the U.S. from India? (Step-by-step guide)

Nowadays, many people are keen to set up a business in the United States. It builds more trust in international customers. Also, the facilitation of payments is much more easier… Read More

3 Features of Term Insurance Policy which makes Nominee’s Life Easier

The purpose of a term insurance policy is simple, ‘to offer sufficient financial support to your loved ones when you are no longer there to ensure the same.’ But imagine… Read More

Term Insurance vs ULIP – Comparative Analysis with Calculations

Insurance is a term we all are aware of. As soon as we hear the word “insurance”, the first thing that comes to the mind is financially securing something valuable… Read More

CA Exam Date Sheet May 2018 – Old & New Course

The CA Final Exams (Old Course and New Course) would be beginning from 2nd May and ending on 16th May and the CA IPCC Exams (Old Course) would be beginning… Read More

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