Income Tax Calculator – Calculate your taxes for FY 2022-23 -eAuditor Office
What is an Income Tax Calculator? The Income Tax Calculator is a simple tool that can calculate your income tax. It considers your income, deductions and exemptions to calculate the amount of tax you owe. You can use it to estimate your taxes for the current year or previous years. It is important to note […]
Income Tax Assessee under the Income Tax act
Income Tax Assessee under the Income Tax Act The income tax law has assigned a special term for persons whose income is assessed under the income tax act. Such persons are known as ‘assessees’ under theincome tax act. Section 2(7) of the Income Tax Act, 1961 defines the income tax assesses in an explicit manner. […]
Income Tax Assessment
Under the Income Tax Act, 1961 an assessee is a person who pays tax to the government and files income tax returns. Every individual or company or any other person who has earned income during a financial year and on which he has paid income tax is treated as an assessee. Section 2 subsection 7 […]
Important Tax and Compliance Tasks to Manage Your Business
Running a business is not as simple as it seems. It’s not just the selling of products or services like it seems to the outside world. Several things happen behind the scenes of a business and compliance tasks are one of them. These need to be managed to ensure that the business is running smoothly […]
Impact of GST On Small Business Enterprises
We are stepping into the sixth year as the implementation of Goods and Service Tax (GST) was on 01st July 2017. Since its inception, small and medium business enterprises (SMEs) have been engrossed in understanding the potential effects of GST on their business. The small business owners had gone through a lot in this span […]
What is Form 26AS? How to View & Download form 26AS of Income Tax
The income tax law has put in place certain forms to enhance the transparency and reporting of the transactions undertaken by the assessees. It includes Form 26AS of income tax as well as the recently introduced Annual Information Statement (AIS) and Taxpayer Information Statement (TIS). In this guide, we will take a look at what […]
What is an LLP? Limited Liability Partnerships explained in under 5 minutes
A private limited company is a preferred business structure because it offers many benefits, such as limited liability protection for the owners, ease of transfer of ownership, and tax efficiencies. The limited liability protection of a private limited company shields the owners from personal financial risk in the event that the company fails. When you […]
Private Limited Company Registration Online – Step By Step Guide
In this startup era, private limited company registration are on the rise. More and more startup enthusiasts are creating their companies in order to be the next Google and Microsoft. However, for incorporating a private limited company in India, a defined procedure needs to be followed. Private limited companies in India are governed by the Companies […]
Understanding the Concept of LLP
Understanding the Concept of LLP and its Tax Implications Sole proprietorship and partnership firms are the simplest formats to conduct business in India. However, their biggest disadvantage persists in the fact that the liability of the sole proprietor and partners in the partnership firms is unlimited. This means, in case of losses or winding up, […]
Udyam Registration Status Check at Udyam Portal – Complete Guide
If you are a Micro, Small or Medium Enterprise, then you might be willing to apply for MSME Udyam registration. Udyam acts as an MSME proof that allows businesses to claim multiple benefits that the government provides to MSME businesses and startups. Further, for promoting ease of doing business, the entire process of Udyam registration […]