Gresham’s law
Gresham’s Law states that “bad money drives out good money”. For instance, if there are two forms of money (suppose a gold coin and a silver coin) in circulation, the more valuable kind will disappear. This law was based on the composition of the minted money and the value of metals used. This law is […]
How Startups are Inspire By Amazon business Model and Strategy?
Amazon went from being a book-selling marketplace to a global e-commerce giant through an exceptional business model. Although the company started as an online bookstore, it quickly expanded into other retail sectors, including television and movie sales, music streaming, clothing, and household items.Today, Amazon is one of the world’s most valuable companies, and its business […]
Udyam Registration Process
Small and Medium Enterprises (MSMEs) are a major source of revenue for the government and play a very important role in the Indian economy. They provide jobs for millions of people and contribute significantly to India’s GDP. MSMEs are essential to the growth of the country and must be given the support they need to […]
Udyam Certificate Download and Print
Small and Medium Enterprises (MSMEs) are very important in India. They help the country by creating jobs, driving economic growth, and helping to make products and services more affordable. To support them, the government of India has come up with many schemes, one of which is Udyam. If you are wondering how to download and […]
Tax Deductible Business Expenses – Allowable Business Expenses
Income tax is divided into 5 major heads namely Income arising from Salary, House Property, Business and Profession, capital gain, and other sources. In the Act where income arises out of business and profession, some specific sections talk about the allowable expenses in the Profit and loss statement. All accounting expenses are not allowed in […]
Who needs to get IEC registration
The possibility of trading outside India is very enticing for businesses as it opens up a larger market to sell their products and services. Additionally, there are many opportunities to be had in trading with other countries, such as accessing new resources, forming partnerships with foreign companies, and more. That said, trading outside India is […]
What are the ROC Compliances for Private Limited Company
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 […]
Section 14A of the Income Tax Act, 1961 – an Overview
There has always been a debate between the taxpayers and the income tax authorities regarding the expenditure incurred on the exempt income. One party would demand a deduction for the expenditure, while the other party would refuse the deduction. The Income Tax Act, 1961 provides for certain incomes that are not taxable or are exempt […]
Section 14A: Disallowance of Expenses Incurred for Earning Exempt Income
Section 14A of income tax act has always been a matter of debate among assesses and tax experts. The income tax law has specified certain income whereby income tax shall be exempted. A general principle of income tax is that expenditure incurred to earn any income shall be allowed as a deduction from such income. […]
What is Taxation and How Is it Benefiting the People?
Why do we pay taxes? Do we even benefit from paying taxes from the government? Taxes are the fees we pay to the government for the services they provide us. These services can include things like national defence, firefighting and ambulance services, schools and hospitals.While we may not always agree with how our tax money […]