What is GST e-Invoicing (Electronic Invoicing) – Complete Overview
Due to regular mismatches and errors in the format of the invoice, the system of e-invoice came into the picture. Earlier, the format for tax invoices was not standardized, but due emergence of “E-invoice” the Registered person under GST gets a format of the invoice that can be used at the time of every supply […]
E-invoices Must for Businesses With Over Rs.10 Crore Turnover a Year
The mandatory e-Invoicing under Goods and Service Tax (GST) will be extended to all businesses with an aggregate turnover limit of Rs.10 crore above from 1st October 2022. Central Board of Indirect Tax & Customs (CBIC) issued a Gazette notification no 17/2022- Central Tax in this regard on 1st August 2022 based on the GST […]
How to Apply for Tamil Nadu Startup Seed Grant Fund 4.0 (TANSEED 4.0)?
TANSEED 4.0 is the latest version of the successful Tamil Nadu Startup Seed Fund, and it’s excellent news for entrepreneurs in the state. If you’re a Tamil Nadu startup founder, this guide is for you to understand the TANSEED 4.0 registration procedure. TANSEED 4.0 provides Rs.10 lakhs as a seed fund grant to all the […]
A Complete Guide On Tamil Nadu Startup Seed Fund
Capital flow is an essential part of every business to grow. In the case of an early-stage startup, easy access to funds is much more critical for an entrepreneur than the established one. Such early-stage startup funds are called seed funds. Most often, startups fail to make a minimum viable product (MVP) due to a […]
Benefits of LLP (Limited Liability Partnership) Incorporation in India
Limited Liability Partnership (LLP) registration is one of the popular forms of business structure among the new-age Indian entrepreneurs. It is a hybrid business structure that combines the benefit of a private limited company (liability and separate legal entity) and a partnership firm’s flexibility. LLP came into existence in 2008, and it is governed under […]
Conversion of Private Limited Company to Public Limited Company – Step-by-Step Procedure
Most new businesses often start as private limited companies. However, as the business scales, one often realises that the restrictions imposed on private limited companies act as hurdles for scaling the business. For instance, private limited companies cannot raise funds from the public. Also, there is a limit on the number of members that can […]
Direct Tax V/S Indirect Tax: Types, Advantages, Disadvantages, Rates
The tax system in India has an evolutionary journey be it a direct tax or indirect tax. The income tax was first introduced in 1860 in the pre-independence Union Budget. The income was summarized under four basic heads at that time. Afterward going through various changes in 1961 in consultation with the Ministry of Law […]
HRA EXEMPTION UNDER INCOME TAX ACT
Overview: A salaried person has been given various exemptions under Income tax laws; A salaried employee who has rented accommodation can get the benefit of HRA Exemption.The full form of HRA is House Rent Allowance. It is basically a deduction of the rent of the house in which an individual is residing. If a salaried […]
Easy Guide to GTA (Goods Transport Agency) Under GST Act
The transportation and logistics industry is the backbone of all other industries and businesses. Agencies undertaking transportation of goods by road under GST from one person to another are regarded as Goods Transport Agency (GTA). What’s peculiar about GTAs is that they are provided exemption from registration and paying tax under the GST law. Persons […]
Filing Returns for Previous Years
The due date for filing income tax returns for the AY 2022-23 is approaching. While the assessees are getting their returns filed for the ongoing assessment year, most first-time return filers have a pertinent question in mind – How to file income tax returns for last 3 years or how to file income tax returns […]