Read more about the article Different Types of Companies in India

Different Types of Companies in India

9 Types of Companies in India - Complete Guide Starting a business in India is a thrilling journey filled with opportunities to innovate, expand, and make a lasting impact. However, one of the most crucial early decisions is selecting the right business structure. Your choice will determine your legal responsibilities, tax obligations, funding opportunities, and overall ease of operation. To help you make an informed decision, this blog will explore the different types of business entities in India, their features, benefits, and the essential documents required to register them. Types of Business Entities in India India’s dynamic business landscape offers…

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Read more about the article Property Registration

Property Registration

1. What is Registration? Registration refers to the process of legally recording documents under the provisions of the Registration Act, 1908. This ensures legal ownership and protection of property and other assets. 2. Types of Documents Sale Deed Stamp duty and transfer duty: 4% if the buyer is a woman, 6% if the buyer is a man. Registration fee: 1% of the total value of the Sale Deed + Rs. 100/- pasting charge. Both the seller and buyer must be present with identification documents such as Passport, Voter ID (Epic Card), Driving License, and PAN Card at the time of…

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Read more about the article What does “date incorporated” mean?

What does “date incorporated” mean?

Date incorporated is the official date when a business becomes a legally recognized entity after completing its incorporation process. This process involves filing incorporation documents, such as the articles of incorporation, with the appropriate government agency. Once incorporated, the business gains legal protections, including limited liability for its owners, and can begin operating as an independent legal entity. This date is significant because it determines when the business must start complying with various legal, tax, and regulatory requirements. It also marks the beginning of the company’s obligation to file annual reports, pay taxes, and meet renewal deadlines. Understanding the date…

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Read more about the article Types of Companies

Types of Companies

Companies have evolved into various forms to meet different business and regulatory needs. They can be classified based on liability, membership, and control. Understanding these classifications helps businesses choose the right structure for their operations. Types of Companies Companies Limited by Shares Companies Limited by Guarantee Unlimited Companies One Person Companies (OPC) Private Companies Public Companies Holding and Subsidiary Companies Associate Companies Companies in terms of Access to Capital Government Companies Foreign Companies Charitable Companies Dormant Companies Nidhi Companies Public Financial Institutions We can classify these companies into different categories. Classification of Different Types of Companies Companies on the Basis…

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Read more about the article What is Limited Liability Partnership (LLP): Meaning, Full Form, Benefits & Registration Process

What is Limited Liability Partnership (LLP): Meaning, Full Form, Benefits & Registration Process

Limited Liability Partnership Imagine running a business with trusted partners where you share profits but don't risk your personal savings if things go wrong. That’s exactly what a Limited Liability Partnership (LLP) offers! LLP is a business model that blends the advantages of a partnership and a company, offering flexibility and liability protection. This article explores LLP in detail—its meaning, benefits, and registration process to help you decide if it’s the right choice for your business. What is LLP: Meaning and Full Form The full form of LLP is Limited Liability Partnership. It is a preferred business structure in India,…

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Read more about the article DSC Full Form

DSC Full Form

DSC stands for Digital Signature Certificate. It is an electronic form of a signature that provides authenticity and security for digital transactions. DSC is widely used for filing tax returns, company registration, e-tendering, and other online activities that require legally valid signatures. Introduction The full form of DSC is "Digital Signature Certificate," which serves as a secure way to authenticate electronic documents. It is issued by Certifying Authorities (CAs) and is legally recognized under the Information Technology Act, 2000. DSC contains encrypted details such as the applicant’s name, email ID, certificate validity, and issuing authority. It plays a crucial role…

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Read more about the article Document Identification Number: Check And Authenticate Income Tax Notice

Document Identification Number: Check And Authenticate Income Tax Notice

Have you received an Income Tax Notice or Order and are unsure about its authenticity? Don't worry! The Income Tax Department has introduced a computer-generated "Document Identification Number (DIN)" to help you verify any official communication you receive. This guide will help you understand the DIN, its importance, applicability, benefits, format, and how to verify an income tax notice using DIN. What is a Document Identification Number (DIN)? The Document Identification Number (DIN) is a unique 15-digit alphanumeric code introduced by the Income Tax Department of India. This system enhances transparency, accountability, and security in tax administration. As per the…

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Read more about the article Income Tax Changes From 1st April 2025: Top 10 New Income Tax Rules

Income Tax Changes From 1st April 2025: Top 10 New Income Tax Rules

Important Income Tax Changes 2025 Income Tax Slabs for FY 2025-26 (AY 2026-27) With the new financial year approaching, several crucial changes in the income tax regime for FY 2025-26 (AY 2026-27) have been announced. These changes aim to enhance tax compliance, provide relief to taxpayers, and promote economic growth. Here’s a breakdown of the major updates: Revised Income Tax Slabs The government has introduced new tax slab rates under Section 115BAC (New Tax Regime), making it the default regime while keeping the Old Tax Regime optional. The revised tax rates are as follows: Income Range Tax Rate Up to…

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Read more about the article What is CPC in Income Tax?

What is CPC in Income Tax?

The Centralized Processing Centre (CPC) is a crucial initiative by the Income Tax Department of India that streamlines tax return processing and enhances taxpayer services. Located in Bengaluru, CPC leverages automation and advanced technology to ensure efficient, error-free, and transparent handling of Income Tax Returns (ITRs). This initiative aligns with the government's commitment to improving ease of doing business by minimizing manual intervention and accelerating tax compliance. CPC - Full Form & Overview The full form of CPC is Centralized Processing Centre. It functions as a fully automated system designed to handle e-filing, verification, and processing of tax returns. By…

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Read more about the article What is TAN?

What is TAN?

In India, the Income Tax Department issues a 10-digit alphanumeric number to entities responsible for deducting tax at source (TDS) or collecting tax at source (TCS). This unique number is known as TAN, which stands for Tax Deduction and Collection Account Number. As per Section 203A of the Income Tax Act, 1961, quoting TAN is mandatory on all TDS and TCS returns. Structure of TAN Number The TAN number follows a standardized structure comprising 10 characters: The first three alphabets represent the jurisdiction code of the holder. The fourth character is the first letter of the holder’s name (individual or…

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Read more about the article Economically Weaker Section (EWS)

Economically Weaker Section (EWS)

The Economically Weaker Section (EWS) in India refers to individuals from the general (unreserved) category who have a family income of less than ₹8 lakh per year. This category does not include Scheduled Castes (SC), Scheduled Tribes (ST), or Other Backward Classes (OBC), as they already have separate reservation benefits. To provide support to this economically disadvantaged group, the Government of India introduced a 10% reservation in education and government jobs for eligible candidates from the general category who meet the EWS criteria. This reservation is in addition to the existing reservations for SC, ST, and OBC categories. Eligibility Criteria…

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Read more about the article What is Goods Received Note (GRN): Meaning, Purpose, Format

What is Goods Received Note (GRN): Meaning, Purpose, Format

Goods Received Note (GRN) is an essential document in the procurement process that helps businesses maintain accurate records and streamline inventory management. It serves as a confirmation of the receipt of goods from suppliers and plays a crucial role in verifying orders, maintaining inventory, and ensuring smooth financial transactions. Meaning of Goods Received Note (GRN) A Goods Received Note (GRN) is a formal document issued by the buyer upon the receipt of goods from a supplier. It acts as proof that the goods have been delivered and inspected for quality and quantity. The GRN allows businesses to cross-check received goods…

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Read more about the article Hindu Undivided Family (HUF)

Hindu Undivided Family (HUF)

The Income Tax Act of 1961 provides various tax-saving opportunities for individuals in India. One such method is forming a Hindu Undivided Family (HUF). HUFs are recognized as separate legal entities for taxation, allowing individuals to claim additional deductions and benefits beyond their personal exemptions. This article explores what a HUF is, its tax advantages, and how to establish one. What is a HUF? A Hindu Undivided Family (HUF) is a legally recognized entity in India that allows Hindu, Buddhist, Jain, and Sikh families to pool their assets and manage their wealth collectively. It is based on the traditional concept…

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Read more about the article GST Full Form and GST Meaning With Example

GST Full Form and GST Meaning With Example

The full form of GST is Goods and Services Tax. Before learning more about GST, let’s understand how taxation works in India. The Government requires revenue to function, and taxes are a primary source of income for the Government. These collected taxes are used for public welfare and development. Taxes in India are broadly classified into two types: Direct Tax and Indirect Tax. What is Direct Tax? Direct tax is imposed on the income of an individual, company, or entity. The tax liability depends on the income earned from various sources such as salary, rent, business profits, or interest. The…

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Read more about the article Simple and Compound Interest Calculator

Simple and Compound Interest Calculator

Interest calculation plays a crucial role in financial planning, whether for loans, savings, or investments. Two common types of interest calculations are Simple Interest (SI) and Compound Interest (CI). A reliable Simple and Compound Interest Calculator helps you determine the interest earned or payable over a period, aiding better financial decisions. What is Simple Interest? Simple Interest is the amount paid only on the principal amount borrowed or invested. It is calculated using the formula: SI = P × R × T Where: P = Principal Amount R = Rate of Interest (annual) T = Time Period (in years) Example:…

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Read more about the article Income Tax Slabs for AY 2025-26 (FY 2024-25) – New & Old Regime

Income Tax Slabs for AY 2025-26 (FY 2024-25) – New & Old Regime

Taxation is a critical aspect of financial planning, impacting salaried individuals, business owners, and investors alike. With each financial year, the government revises tax slabs and policies to align with economic goals. For Assessment Year (AY) 2025-26 (Financial Year 2024-25), taxpayers can choose between the Old Tax Regime and the New Tax Regime. This blog provides a comprehensive analysis of both regimes, their tax slabs, tax planning strategies, and essential details to help you make an informed decision. Understanding Income Tax Regimes in India India’s income tax system allows taxpayers to opt for either the Old Tax Regime, which offers…

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Read more about the article What is E-way Bill: Rules, Applicability, Limit, Requirement & Generation Process Explained

What is E-way Bill: Rules, Applicability, Limit, Requirement & Generation Process Explained

Managing the seamless movement of goods while ensuring compliance with GST regulations can be challenging for enterprises. The E-Way Bill system plays a crucial role in streamlining the movement of goods under India’s GST framework. It ensures proper documentation for every consignment, making the process transparent and hassle-free. What is an E-Way Bill? An E-Way Bill (Electronic Way Bill) is a mandatory document required for the transportation of goods valued over Rs. 50,000. This bill must be generated from the E-Way Bill portal (ewaybillgst.gov.in) before moving goods. The unique E-Way Bill Number (EBN) is shared with the supplier, recipient, and…

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Read more about the article Income Tax Calculator – FY 2025-2026

Income Tax Calculator – FY 2025-2026

Tax season can often feel overwhelming, but with the right tools, calculating your tax liability can be a seamless process. The Income Tax Calculator for FY 2025-26 helps individuals estimate their taxes accurately while comparing the benefits of both old and new tax regimes. Key Highlights of Budget 2025 No income tax for individuals earning up to Rs. 12 lakhs due to a rebate of Rs. 60,000 under the new regime. Revised tax slabs under the new regime: Up to Rs. 4,00,000 – NIL Rs. 4,00,001 - Rs. 8,00,000 – 5% Rs. 8,00,001 - Rs. 12,00,000 – 10% Rs. 12,00,001…

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Read more about the article Private Limited Company Registration in India

Private Limited Company Registration in India

A Private Limited Company (Pvt Ltd) is one of the most popular business structures in India due to its limited liability, legal recognition, and ease of fundraising. It is governed by the Companies Act, 2013, and regulated by the Ministry of Corporate Affairs (MCA). This guide outlines the step-by-step process for registering a Private Limited Company in India. Key Features of a Private Limited Company Limited Liability Protection: Shareholders are only liable for their investment in shares. Separate Legal Entity: The company has its own identity, can own assets, and enter contracts. Minimum & Maximum Members: Requires at least 2…

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Read more about the article The Indian Partnership Act, 1932: An Overview

The Indian Partnership Act, 1932: An Overview

The Indian Partnership Act, 1932 governs partnership firms in India and defines the rights, duties, and liabilities of partners. It provides a legal framework for the formation, operation, and dissolution of partnership firms. Below is an overview of its key provisions: 1. Definition of Partnership (Section 4) A partnership is a relationship between individuals who agree to share the profits of a business conducted by all or any of them on behalf of the firm. Partners: Individuals who enter into a partnership agreement. Firm: The collective name under which the business is carried on. 2. Types of Partnerships Partnership at…

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Read more about the article Dissolution of a Partnership Firm: Meaning, Modes of Dissolution & Modes of Settlement (Section 48)

Dissolution of a Partnership Firm: Meaning, Modes of Dissolution & Modes of Settlement (Section 48)

The dissolution of a partnership firm marks the end of a business entity where partners have collaborated to achieve common goals. This process involves winding up the firm’s affairs, settling debts, distributing remaining assets, and legally terminating the partnership agreement. The dissolution can happen voluntarily or under legal compulsion. 1. Voluntary Dissolution of a Partnership Firm A partnership firm can be dissolved voluntarily when all partners mutually agree to discontinue business operations. The primary modes of voluntary dissolution include: A. By Agreement (Section 40 of the Indian Partnership Act, 1932) A firm can be dissolved by mutual consent of all…

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Read more about the article Partnership Tax Return Filing

Partnership Tax Return Filing

Operating a Partnership Firm in India involves fulfilling several financial and legal responsibilities, including compliance with tax regulations. Among these, understanding the audit limit for partnership firms is crucial to ensure proper financial reporting and avoid penalties. Partnership Firm Audit Limit Under Income Tax Act A partnership firm must undergo a tax audit under Section 44AB of the Income Tax Act, 1961, if: Its turnover exceeds ₹1 crore in a financial year (for businesses). Its gross receipts exceed ₹50 lakh (for professionals). If the firm opts for presumptive taxation under Section 44AD but reports lower income than the prescribed rate…

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Read more about the article Nature of Partnership – Meaning and Key Features

Nature of Partnership – Meaning and Key Features

A partnership is a business structure where two or more individuals agree to share profits and losses. Section 4 of the Indian Partnership Act, 1932 defines a partnership as an association between persons who have agreed to share the profits of a business conducted by all or any one of them acting on behalf of all. Key Features of Partnership 1. Two or More Persons Required A minimum of two partners is mandatory for forming a partnership. As per Section 464 of the Companies Act, 2013, the maximum number of partners cannot exceed 100. However, Rule 10 of the Companies…

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Read more about the article Provision of Partnership Act in the Absence of Partnership Deed

Provision of Partnership Act in the Absence of Partnership Deed

Effect of Absence of a Partnership Deed under the Indian Partnership Act, 1932 A Partnership Deed is a legal document that defines the rights, duties, and responsibilities of partners in a partnership firm. However, when there is no written Partnership Deed, the provisions of the Indian Partnership Act, 1932 automatically govern the partnership. Key Provisions in the Absence of a Partnership Deed 1. Profit and Loss Sharing As per Section 13(b) of the Indian Partnership Act, profits and losses will be shared equally among all partners, irrespective of their capital contribution or involvement in business operations. This may create disputes,…

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Read more about the article Documents Required for Partnership Registration in India

Documents Required for Partnership Registration in India

A partnership firm is a popular business structure in India due to its simplicity and ease of formation. However, to legally establish the firm and open a current bank account, certain documents must be submitted. Below is a comprehensive list of required documents. 1. Documents Required for Partnership Firm Registration A. Common Documents Partnership Deed – A notarized document outlining the firm’s objectives, partners’ details, profit-sharing ratio, and operational structure. PAN Card of the Firm – Required for tax compliance and business transactions. Address Proof of the Firm – One of the following: Rent Agreement (if rented) along with a…

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Read more about the article Intimation Under Section 143(1) of Income Tax Act – ITR Intimation Password

Intimation Under Section 143(1) of Income Tax Act – ITR Intimation Password

Introduction After filing an Income Tax Return (ITR), taxpayers receive an intimation under Section 143(1) from the Income Tax Department. This intimation is issued after the return is processed at the Centralized Processing Centre (CPC) and informs the taxpayer of any discrepancies, refunds, or additional tax liabilities. Understanding this notice is crucial to ensure compliance and address any issues promptly. What is an Intimation under Section 143(1)? An intimation under Section 143(1) is a computer-generated notice that compares the taxpayer’s filed return with the department’s computed data. The assessment primarily checks for: Arithmetical errors Internal inconsistencies Tax calculation accuracy Verification…

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Read more about the article Companies Act 2013 – Schedule III & Amendments

Companies Act 2013 – Schedule III & Amendments

Schedule III of the Companies Act, 2013 provides the format and disclosure requirements for financial statements of companies in India. It ensures uniformity, transparency, and compliance with accounting standards. The Ministry of Corporate Affairs (MCA) has made several amendments to Schedule III, the latest being on October 11, 2018, introducing Division III for NBFCs. Structure of Schedule III Schedule III is divided into three divisions, catering to different categories of companies: Division Applicable To Division I Companies following Indian GAAP (Accounting Standards - AS) Division II Companies following Ind AS (Indian Accounting Standards) Division III NBFCs following Ind AS Key…

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Read more about the article Auditing Requirements of Private Limited Company

Auditing Requirements of Private Limited Company

A Private Limited Company (Pvt Ltd) in India must comply with various auditing requirements under the Companies Act, 2013 and other relevant financial regulations. These audits ensure financial transparency, legal compliance, and accuracy in reporting financial transactions. This guide explains the types of audits, appointment of auditors, due dates, and penalties applicable to private limited companies. 1. What is an Audit in a Private Limited Company? An audit is an independent examination of a company's financial records to ensure compliance with legal and regulatory standards. As per Section 139 to 147 of the Companies Act, 2013, every private limited company…

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Read more about the article Difference between Pvt Ltd vs Ltd Company

Difference between Pvt Ltd vs Ltd Company

Starting a business in India requires choosing the right company structure. Among the most common structures are Private Limited (Pvt. Ltd.) and Public Limited (Ltd.) companies. Both provide limited liability protection to shareholders, but they differ significantly in ownership, regulatory requirements, and operational flexibility. Below is a detailed comparison of Pvt. Ltd. vs Ltd. companies to help you make an informed decision. 1. Understanding Pvt. Ltd. and Ltd. Companies 🔹 Private Limited Company (Pvt. Ltd.): A business entity owned privately by a group of individuals. The shares are not traded on the stock exchange and can only be transferred with…

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Read more about the article Sole Proprietorship Registration

Sole Proprietorship Registration

A sole proprietorship is one of the most popular business structures in India due to its simplicity, minimal compliance, and full control by the owner. It is ideal for freelancers, small traders, and home-based businesses. In this guide, we’ll cover everything you need to know about registering a sole proprietorship in India, the required documents, tax compliance, advantages, and limitations. What is a Sole Proprietorship? A sole proprietorship is a business owned and managed by a single person. It has no separate legal identity, meaning the owner is personally liable for all business obligations. Key Features of a Sole Proprietorship…

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Read more about the article TDS Rate Chart for Financial Year 2024-2025 (Assessment Year 2025-2026)

TDS Rate Chart for Financial Year 2024-2025 (Assessment Year 2025-2026)

Tax Deducted at Source (TDS) is a mechanism introduced by the Indian Income Tax Department to collect taxes at the source of income generation. The deductor (payer) is responsible for deducting a specified percentage of tax before making payments like salary, rent, interest, professional fees, and commissions. This deducted amount is then deposited with the government on behalf of the payee. TDS Rate Chart for FY 2024-25 1. TDS Rates for Resident Individuals & Entities Section Nature of Payment Threshold Limit (INR) TDS Rate (%) 192 Salary As per slab As per slab 192A Premature withdrawal from EPF 50,000 10%…

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Read more about the article What is Section 194J of the Income Tax Act?

What is Section 194J of the Income Tax Act?

Section 194J: TDS on Fees for Professional and Technical Services Tax Deducted at Source (TDS) on professional fees is governed under Section 194J of the Income Tax Act, 1961. This section applies to businesses and entities making payments to resident professionals and technical service providers. Understanding the provisions of TDS on professional fees is essential for ensuring compliance and avoiding penalties. Who Needs to Deduct TDS Under Section 194J? TDS under Section 194J is applicable to any person other than an individual or HUF who makes payments exceeding ₹30,000 in a financial year for professional or technical services. However, HUFs…

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Read more about the article Depreciation as per Companies Act, 2013

Depreciation as per Companies Act, 2013

Depreciation as per Companies Act, 2013 | Schedule II | Companies Act Integrated Ready Reckoner | Companies Act 2013 | CAIRR Depreciation is the systematic allocation of the cost of an asset over its useful life. The Companies Act, 2013 prescribes the guidelines for calculating depreciation through Schedule II, which provides the useful lives of various asset classes. Depreciation includes amortization for intangible assets and is charged as an expense in the Profit & Loss Account. Methods of Depreciation The Act allows companies to adopt either of the following methods for calculating depreciation: Straight Line Method (SLM): Equal depreciation is…

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Read more about the article New Tax Regime Deductions: 3 deductions are also available in the new tax regime, check the updates before paying tax

New Tax Regime Deductions: 3 deductions are also available in the new tax regime, check the updates before paying tax

The New Tax Regime, introduced by the Government of India, aims to simplify personal income tax while offering lower tax rates. As per the latest data, 72% of taxpayers have chosen the new tax system, indicating its growing popularity. Out of 7.28 crore income tax returns (ITRs) filed for the financial year 2024-25, 5.27 crore were under the new regime, while 2.01 crore were filed under the old regime. However, while the New Tax Regime eliminates several traditional deductions like House Rent Allowance (HRA), Leave Travel Allowance (LTA), Interest on Home Loan, and Section 80C benefits, it still allows for…

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Read more about the article Income Tax Surcharge Rate and Marginal Relief – Latest Rates

Income Tax Surcharge Rate and Marginal Relief – Latest Rates

Income Tax Surcharge Rate and Marginal Relief A surcharge on income tax is an additional tax levied on high-income taxpayers over and above their regular income tax liability. This surcharge ensures progressive taxation, where individuals and businesses earning higher incomes contribute more to the government. However, to prevent excessive tax burdens due to small income increases, the concept of marginal relief applies. Let’s explore the latest surcharge rates and marginal relief provisions for FY 2025-26. Surcharge on Income Tax Surcharge Rates for Individuals, HUFs, AOPs & BOIs Net Taxable Income Surcharge Rate (Old Regime) Surcharge Rate (New Regime) Up to…

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Read more about the article GST Benefits – Advantages and Disadvantages of GST

GST Benefits – Advantages and Disadvantages of GST

Introduction The Goods and Services Tax (GST) has been one of India's most significant tax reforms, replacing multiple indirect taxes with a unified system. While GST simplifies taxation, it also presents certain challenges. This article provides an in-depth look at both the advantages and disadvantages of GST to help businesses understand its impact. Advantages of GST 1. Elimination of the Cascading Effect of Taxes GST replaces multiple indirect taxes such as VAT, Service Tax, and Excise Duty, eliminating the "tax on tax" effect. Businesses can claim Input Tax Credit (ITC), reducing their overall tax burden. 2. Higher Threshold for Registration…

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Read more about the article GST registration certificate & Steps to download it from the GST portal

GST registration certificate & Steps to download it from the GST portal

Introduction The GST Registration Certificate (Form GST REG-06) is an official document issued by the Goods and Services Tax (GST) Department upon successful registration of a business under GST. It serves as proof of GST registration, allowing businesses to operate legally within the GST framework. This document is essential for businesses to collect and remit GST and avail Input Tax Credit (ITC). Who Needs a GST Registration Certificate? Businesses with an annual turnover exceeding Rs. 40 lakhs (for goods supply) and Rs. 20 lakhs (for services). Casual taxable persons who engage in occasional transactions. Non-resident taxable persons conducting business without…

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Read more about the article Can a Company be a Partner in a Partnership Firm?

Can a Company be a Partner in a Partnership Firm?

Can two limited Companies Form a Partnership? Businesses often seek strategic alliances to leverage each other's strengths. One such collaboration method is forming a partnership. However, when it comes to limited companies, the question arises—can two or more companies form a partnership in India? The answer lies in the interpretation of the Companies Act and the Indian Partnership Act. Legal Perspective on Companies Entering Partnerships Global vs. Indian Scenario In the USA, corporations are generally allowed to form partnerships. For instance, Arizona state laws explicitly permit a corporation to be a partner in a partnership. In India, a company does…

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Read more about the article Difference Between Company and Partnership Firm: A Comprehensive Comparison

Difference Between Company and Partnership Firm: A Comprehensive Comparison

When starting a business, it is essential to understand the differences between various business structures. The three most common types of business entities in India are Companies, Limited Liability Partnerships (LLPs), and Partnership Firms. Each structure has its unique features, benefits, and limitations. Below is a comparative analysis to help entrepreneurs make an informed decision. 1. Difference Between Company and Partnership Firm Aspect Company Partnership Firm Legal Structure Incorporated under the Companies Act Governed by the Indian Partnership Act Number of Members Shareholders or members Partners Liability Limited liability of shareholders/members Unlimited liability of partners Formation More complex and formal…

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Read more about the article Partnership Deed – Format, Meaning, Contents, Registration, Importance

Partnership Deed – Format, Meaning, Contents, Registration, Importance

Download What is a Partnership Deed? A partnership deed is a legally binding agreement between two or more partners who decide to run a business together. It outlines the terms and conditions of the partnership, ensuring clarity in roles, responsibilities, and profit-sharing arrangements. Importance of a Partnership Deed A partnership deed plays a crucial role in the smooth functioning of a partnership firm by: Defining the relationship, rights, and duties of partners. Regulating business operations and liabilities. Avoiding misunderstandings among partners. Resolving disputes efficiently based on agreed terms. Clearly specifying profit and loss sharing. Documenting remuneration and financial transactions to…

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Read more about the article Understanding the Maximum No. of Partners in Partnership Firm

Understanding the Maximum No. of Partners in Partnership Firm

What is the maximum no of partners in a partnership firm? A partnership firm is formed when two or more individuals come together to conduct business, sharing both profits and liabilities. These individuals are known as "partners," and collectively, they establish a "partnership firm." Unlike a company, a partnership firm does not have a separate legal identity from its partners, and each member is personally liable for the firm's debts. One of the most common questions about partnership firms is the maximum number of partners allowed. While the Indian Partnership Act, 1932 does not specify a limit, the Companies Act,…

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Read more about the article GST Registration for E-commerce Sellers

GST Registration for E-commerce Sellers

E-commerce has grown into a lucrative marketplace for companies across India. It doesn't matter if you sell through platforms such as Amazon, Flipkart, Meesho or on your own website, GST Registration for E-commerce Sellers are required for all online seller, regardless of the turnover. Contrary to traditional companies, e-commerce sellers are required to register for GST regardless of whether their annual turnover is less than the threshold of Rs20 lakh (Rs10 lakh for states that are special category) threshold. Why GST Registration is Mandatory for E-commerce Sellers? The GST law includes specific provisions for sellers of e-commerce for tax transparency, and to make…

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Read more about the article GST Registration Documents Required

GST Registration Documents Required

To be able to be able to GST Registration Documents Required (Goods and Tax on Services) in India both individuals and businesses have to provide certain documents to prove their identity, company structure and financial details. Here are the most important documents needed to be submitted for GST registration, along with the information they require: List of GST Registration Documents Required 1. PAN Card (Permanent Account Number) The PAN number of the individual or business that is submitting for GST is required. For proprietorship companies the owner's PAN is utilized. When it comes to partnership, LLPs, and companies it is the entity's PAN is…

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Read more about the article Cancellation of registration under GST

Cancellation of registration under GST

Time Limit for Cancellation of GST Registration If your business no longer falls under the scope of GST regulations or you plan to shut it down, you may need to cancel your GST registration. Alternatively, tax authorities may initiate the cancellation process under specific circumstances. This guide explains the different types of cancellations and the process involved. Latest Updates on GST Registration Cancellation 1. Union Budget 2024 Update (23rd July 2024) The Finance Minister has proposed an amendment to Section 30 of the CGST Act, allowing the government to set conditions for the revocation of cancelled GST registrations. This change…

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Read more about the article GST Registration Limit: Understanding the Minimum Turnover Requirement

GST Registration Limit: Understanding the Minimum Turnover Requirement

GST Registration Limit: Minimum Turnover for GST Registration Goods and Services Tax (GST) is a comprehensive indirect tax introduced in India in 2017 to replace multiple taxes like VAT, service tax, excise duty, and others. The GST Council, which consists of finance ministers from different states, determines the tax rates applicable to various goods and services. Businesses that cross the minimum turnover threshold must register under GST and file returns accordingly. This article provides a detailed overview of GST registration limits, the classification of states, compulsory registration criteria, and how to calculate turnover for GST purposes. If you need GST…

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Read more about the article GST Number Search Tool – GSTIN Verification Online

GST Number Search Tool – GSTIN Verification Online

In today's tax system, verifying a GST Number (GSTIN) is crucial to ensuring transparency and avoiding fraud. Whether you are a business owner, supplier, or customer, GST verification helps confirm the authenticity of a registered taxpayer. In this blog, we will guide you on how to search for a GST number online and verify its validity effortlessly. What is GSTIN? A GSTIN (Goods and Services Tax Identification Number) is a 15-digit PAN-based unique number issued to every GST-registered business. It serves as an identity for businesses under GST laws in India. Businesses must verify GST numbers before including them in…

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Read more about the article Interest on Late Payment of TDS

Interest on Late Payment of TDS

Penalty for Late Filing of TDS Return - TDS Interest Calculator Tax Deducted at Source (TDS) is an essential tax collection mechanism in India that ensures tax is deducted at the source of income and remitted to the government. Timely payment of TDS is crucial to avoid penalties and interest charges imposed under the Income Tax Act of 1961. In this article, we explore the consequences of late payment of TDS, including interest rates, penalties, and compliance requirements. Understanding TDS and Its Importance TDS is a tax deduction system where the payer (deductor) withholds tax from payments such as salaries,…

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Read more about the article Why is ROC Filing Needed? A Complete Guide
Why is ROC filing needed

Why is ROC Filing Needed? A Complete Guide

Why is ROC filing needed ROC (Registrar of Companies) filing is a crucial compliance requirement for every company registered in India. It involves submitting various financial statements and annual returns to the Registrar of Companies (ROC) under the Ministry of Corporate Affairs (MCA). Non-compliance with these regulations can lead to heavy penalties, legal consequences, and even the disqualification of directors. In this guide, we’ll cover everything you need to know about ROC filing, its importance, due dates, and penalties for late filing. What is ROC? ROC stands for Registrar of Companies. It is a regulatory authority under the Ministry of…

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Read more about the article Income Tax Return (ITR) Filing Last Date for AY 2025-26

Income Tax Return (ITR) Filing Last Date for AY 2025-26

Income Tax Return (ITR) Filing Last Date for AY 2025-26 Filing your Income Tax Return (ITR) is a crucial step in managing your tax obligations. Knowing the due dates, penalties, and consequences of missing the deadline ensures compliance and avoids unnecessary fines. This guide provides a comprehensive overview of ITR filing deadlines for different taxpayer categories, penalties for late filing, and updates from Budget 2025. Budget 2025 Update on ITR Filing As per Budget 2025, the deadline for filing an updated income tax return (ITR-U) has been extended from 2 years to 4 years from the end of the relevant…

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Read more about the article Guide for Uploading TDS Returns on the Income Tax Portal
Guide for Uploading TDS Returns on the Income Tax Portal

Guide for Uploading TDS Returns on the Income Tax Portal

Guide for Uploading TDS Returns on the Income Tax Portal Guide for Uploading TDS Returns on the Income Tax Portal – Filing Tax Deducted at Source (TDS) returns in India is a mandatory process for entities that have deducted tax at source. This guide covers key steps to ensure compliance with the Income Tax Department's regulations. 1. Obtain a Tax Deduction and Collection Account Number (TAN): Before initiating TDS deductions, you must acquire a TAN, a unique 10-digit alphanumeric number issued by the Income Tax Department. This number is essential for all TDS-related transactions and filings. You can apply for…

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Read more about the article TDS penalty for late filing

TDS penalty for late filing

Introduction Tax Deducted at Source (TDS) ensures timely tax collection by deducting tax at the point of payment. However, failing to file TDS returns on time can lead to penalties under Sections 234E and 271H of the Income Tax Act. In this article, we will explore the penalties, late fees, interest charges, and legal consequences of delayed TDS filings and payments. TDS Return Due Date & Late Filing Fees (Section 234E) A delay in filing TDS returns beyond the due date attracts a fee of ₹200 per day. This fee applies from the due date until the date of filing…

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Read more about the article Procedure for Company Incorporation in India

Procedure for Company Incorporation in India

Guide Procedure for Company Incorporation in India India has a lot of legal requirements when it comes to establishing a company that must be followed as instructed by the Ministry of Corporate Affairs (MCA).  So, here is a guide to procedure for company incorporation in India: Step 1: Choose the Business Structure Establish the structure of a company depending on your needs: Private Limited Companies (Most Popular) Publicly Limited Companies One Person Companies (OPC) Limited Liability Partnership (LLP) 2: Obtain Digital Signature Certificate (DSC) As a prerequisite for Indian company registration, a director's Digital Signature Certificate must be obtained. This…

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Read more about the article Company Incorporation Certificate

Company Incorporation Certificate

The Ministry of Corporate Affairs (MCA) issues a Company Incorporation Certificate as proof of a registered company in India. The certificate serves as proof of the company’s existence and contains fundamental information such as the name of the company, corporate identification number, and the date of incorporation. Steps to Obtain Company Incorporation Certificate To obtain your Certificate of Incorporation (COI). Also, follow the steps below: 1. Select a Business Type Is it a Private Limited Company (Most Common for Businesses & Startups) Limited Liability Partnership (LLP) One Person Company (OPC) Public Limited Company 2. Submit Application for Digital Signature Certificate…

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Read more about the article How to Register a Company in India

How to Register a Company in India

How to Register a Company in India You a finding the How to Register a Company in India? So, registering a company India requires a number of legal steps that are primarily managed by the Ministry of Corporate Affairs (MCA). This is a step-by-step procedure: 1: Choose a Business Structure Choose the type of business you'd like to incorporate: Private Limited Partnership (Most well-liked by new companies and companies) Limited Liability Partnership (LLP) One Person Company (OPC) Sole Proprietorship Public Limited Company 2: Obtain Digital Signature Certificate (DSC) Forms must be filed online through the MCA. Get DSC directorships from approved agencies…

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Read more about the article how to complain to income tax office?

how to complain to income tax office?

How to File a Complaint with the Income Tax Office If you need to file a complaint with the Income Tax Department, our step-by-step guide on How to File a Complaint with the Income Tax Office will help you navigate various online and offline methods to lodge your grievance effectively. 1. Online Complaint Filing Method 1: Using the Income Tax E-filing Portal Visit the Official Website Go to the Income Tax e-Filing portal. Log in to Your Account Use your PAN, Aadhaar, or User ID along with your password. Navigate to the Grievance Section Click on ‘Submit Grievance’ under the…

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Read more about the article Section 194IA – How to File TDS on Sale of Property

Section 194IA – How to File TDS on Sale of Property

Section 194IA - How to File TDS on Sale of Property When buying a property in India, tax compliance is a crucial aspect. If the property value exceeds ₹50 lakh, the buyer is legally required to deduct 1% TDS (Tax Deducted at Source) and deposit it with the government. The entire process can be completed online, making it convenient for buyers to fulfill their tax obligations without visiting a bank or tax office. This blog will guide you through the importance, process, and key considerations for online TDS payment on property purchases. What is TDS on Property? TDS on property…

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Read more about the article How to Claim TDS: A Step-by-Step Guide

How to Claim TDS: A Step-by-Step Guide

How to Claim TDS: A Step-by-Step Guide | Saptax Hub LLP Tax Deducted at Source (TDS) is an advance tax collected by the government on various types of payments such as salary, rent, interest, and professional fees. However, taxpayers can claim a refund if excess TDS has been deducted. In this guide, we will walk you through the process of claiming TDS. Step 1: Check Your TDS Deduction The first step in claiming a TDS refund is to verify the amount deducted. You can do this by checking Form 26AS on the Income Tax Department’s website. This form provides details…

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Read more about the article Who is Not Required to File Income Tax Return?

Who is Not Required to File Income Tax Return?

Who is Not Required to File Income Tax Return? | Saptax Hub LLP Filing an Income Tax Return (ITR) is an essential responsibility for most taxpayers in India. However, not everyone is required to file a return. The Income Tax Act, 1961, specifies certain exemptions based on income, age, and type of earnings. Let’s explore who is exempt from filing an ITR. 1. Individuals with Income Below the Basic Exemption Limit If your total income before deductions (under Sections 80C to 80U) is below the basic exemption limit, you are not required to file an ITR. The current exemption limits…

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Read more about the article Types of Assessment in Income Tax

Types of Assessment in Income Tax

Types of Assessment in Income Tax | Stay Compliant with Saptax Hub LLP Types of Assessment in Income Tax, ensuring that taxpayers fulfill their obligations correctly. The Income Tax Act, 1961 prescribes different types of assessments to verify, correct, and reassess tax filings. Whether you're an individual taxpayer or a business owner, understanding these assessments can help you stay compliant and avoid penalties. 1. Self-Assessment (Section 140A) Self-assessment is the first step in tax compliance, where taxpayers calculate their own tax liability, deduct advance tax paid, and pay any remaining dues before filing the return. It ensures that taxpayers take…

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Read more about the article GST Registration for Food Industry

GST Registration for Food Industry

Food is one of the most vibrant and important industries in the economy. It doesn't matter if you run restaurants or catering service or a food manufacturing facility or even a cloud kitchen, knowing the tax consequences of your business is essential. One of the most important elements that food business owners should know about is GST (Goods and Tax on Services) registration. In this article, we'll explain everything you need learn about GST registrations for food industry including the importance of it and eligibility requirements, the process of registering, the documents needed and the role of an GST Registration Consultant in…

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Read more about the article GST Registration for the Hospitality Industry

GST Registration for the Hospitality Industry

The hospitality sector is booming in India is a growing industry which includes restaurants, hotels and resorts, catering business and related services. Since the introduction of Goods and Services Tax (GST) companies in this field must comply with the tax laws, which makes GST registration an essential step. Knowing the GST Registration for the Hospitality Industry process, its benefits and compliance requirements are essential to ensure that businesses run without a hitch. If you're a hotel business owner seeking advice regarding GST registration This blog can assist you in the process and ensure that you are in compliance with all rules. It is…

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Read more about the article GST Registration for Construction Companies

GST Registration for Construction Companies

It is the Goods and Services Tax (GST) is among the biggest taxes reforms that have been implemented in India implemented to streamline structures of taxation and to improve transparency of business transactions. Construction companies, as with all other companies, must abide to GST guidelines to prevent penalties, and guarantee smooth operation. If you're in the construction business you must be aware that GST Registration for Construction Companies. Why is GST Registration Important for Construction Companies? GST registration is required for all businesses whose annual turnover exceeds the amount of. 20 lakhs (for service providers) or the equivalent of Rs. 40 lakhs (for goods…

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Read more about the article GST registration for real estate

GST registration for real estate

The Goods and Services Tax (GST) has had an impact on many areas such as real estate. No matter if you're a developer, builder, or a real estate agent, being aware of GST registration is vital to ensure compliance with tax law. If you're in the business of real estate in India making sure you register under GST can assist you in avoiding legal problems while also ensuring a the smooth running of your business. In this article we'll cover the essential information you need concerning GST registration in real estate such as who is required to be registered, the process of benefits, the…

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Read more about the article GST Registration for Transport Services

GST Registration for Transport Services

GST Registration for Transport Services | GST on transport services Goods and Services Tax (GST) has made a drastic shift in the business operations of India, including the transport industry. If you have a transport business or are in the transport service industry, GST registration is essential to avoid any non-compliance and smooth running of business. In this blog, we will discuss everything regarding GST registration for transport services, such as its applicability, exemptions, and compliance. What is GST and Why is it Important for Transport Services? GST is an integrated system of taxation, replacing several indirect taxes such as…

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Read more about the article GST Registration for IT Companies

GST Registration for IT Companies

In the present digital era, the IT sector has emerged as the backbone of the Indian economy with tangible contributions to GDP growth, jobs, and innovation. Irrespective of whether you own a software development company, an IT consulting firm, or offer SaaS services, tax compliance knowledge is essential. GST (Goods and Services Tax) registration is one of the most important features of taxation in India for IT companies. If you have an IT business or are going to open one, you may wonder: Do IT companies need to register for GST? What are the advantages? How can a GST Registration…

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Read more about the article GST Registration for Healthcare Services

GST Registration for Healthcare Services

The implementation of GST on healthcare services has transformed the taxation framework in India, affecting various sectors, including medical services. Many businesses ask, ‘Is GST applicable on health care services?’ The answer depends on the nature of the service provided. While primary health care services under GST are mostly exempt, some require registration and compliance. To be clear, healthcare services do not fall under the purview of GST. However, there are particular cases that make GST Registration for Healthcare Services mandatory. These nuances are important to be understood by the businesses and service providers in the healthcare industry. Throughout this…

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Read more about the article GST registration for educational institutions

GST registration for educational institutions

The advent of the Goods and Services Tax (GST) in India significantly impacted various industries, including the education sector. Educational institutions, such as schools, colleges, and coaching classes, need to understand their tax responsibilities under the new GST regulations. This blog explains the process of GST registration for educational institutions, the exemptions available, and why GST for schools is important to consider. What is GST and Its Consequences to Educational Institutions? For educational institutions, GST impacts not only the services they provide but also the GST registration for educational institutions if their services fall outside exempt categories. GST education has…

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Read more about the article GST registration for NGOs

GST registration for NGOs

Non-Governmental Organizations (NGOs) are very influential in social protection, providing programs in education, health, and community services. However, NGOs in India, like any other institutions, have tax obligations. One of the compliances that NGOs must adhere to is the registration for Goods and Services Tax (GST) which has to be done if the turnover exceeds specified threshold limits. Most NGOs believe that they do not qualify to pay GST on account of their non-profit status. As it turns out, this is not universally correct. It is imperative to know when and how one NGO registers for GST compliances and avoids…

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Read more about the article GST registration for startups

GST registration for startups

Starting a business is never an easy endeavor, and perhaps the most crucial part of running a startup in India is knowing the GST – Good and Services Tax system. While it plays an important role in ensuring compliance with tax laws, GST registration is also required for certain businesses to operate. in this blog explores what GST registration means for startups, its benefits, how easy or complicated the registration is, and how a professional consultant in Delhi or a CA Firm in Delhi NCR can make this process easier for you. What is GST and Its Significance For Startups?…

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Read more about the article GST Registration for Professionals

GST Registration for Professionals

Goods and Services Tax (GST) is an indirect tax that has unified the taxation system in India. Professionals like chartered accountants, lawyers, doctors, consultants, architects, and even freelancers need to know the registration details and compliance requirements with the taxation laws. You, whether are an independent professional or working on the firm’s, must ensure GST Registration for Professionals and for taking advantage of input tax credit. If you need specialized help, a GST Registration Consultant in Delhi or a reputed CA Firm in Delhi NCR can help. Who Needs GST Registration? GST registration is essential for a professional in the…

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Read more about the article Old vs. New Tax Regime: Which is Better for a ₹12 Lakh Salary?

Old vs. New Tax Regime: Which is Better for a ₹12 Lakh Salary?

Best Tax Regime for ₹12 Lakh Salary – Old vs. New Compared Knowing the tax regime options one has is essential if one has a salary of ₹12 lakh. The latest reforms in Indian taxation laws have given this choice greater importance. In this blog, we shall understand the distinctions between the previous and current tax regimes and enable you to make the right decision.   Overview of Tax Regimes India provides two main tax regimes: the old and the new. Both have their own rules, exemptions, and deductions. Knowing them can make a huge difference to your take-home pay.…

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Read more about the article GST Registration for Traders

GST Registration for Traders

The taxonomy of taxation in India has certainly been eased up with the use of Goods and Services Tax (GST), which is an indirect tax. As for the traders, GST registration serves as the first step towards compliance with tax regulations and avoiding fines. Whether you are a small trader or run an enterprise, it is important to know the nuts and bolts of GST registration and its advantages. Moreover, this information is pertinent for all traders so in this article, we will discuss all facets related to GST registration, especially the importance of a GST Registration Consultant in Delhi,…

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Read more about the article Streamlining GST Compliance For Manufacturing Businesses In India: A Step-by-Step Guide

Streamlining GST Compliance For Manufacturing Businesses In India: A Step-by-Step Guide

The Goods and Services Tax (GST) has transformed India's tax structure, significantly impacting the manufacturing sector. While it simplifies taxation and enhances competitiveness, manufacturing units must ensure strict compliance to leverage its benefits effectively. This guide provides a structured approach to streamlining GST compliance for manufacturing businesses. Step 1: GST Registration for Manufacturing Units Eligibility Criteria: Businesses with an annual turnover exceeding Rs. 40 lakh (Rs. 10 lakh for special category states) must register under GST. Voluntary registration is advisable for small businesses seeking input tax credit (ITC) benefits. Documents Required: PAN and Aadhaar of the proprietor/partners/directors Business registration proof…

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Read more about the article Best Startup Consulting Firms in Delhi

Best Startup Consulting Firms in Delhi

Best Startup Consulting Firms in Delhi | Expert Guidance Starting a new business can be an exciting yet challenging journey. From legal formalities to financial planning, there are numerous aspects to consider. That’s where professional startup consulting firms come in. If you’re looking for expert guidance in setting up and growing your business, Saptax Hub LLP is one of the Best Startup Consulting Firms in Delhi, providing expert support for startups. Why Choose a Startup Consulting Firm? A trusted startup consulting firm provides critical business insights and hands-on assistance. Whether it's leading financial consulting for startups or guiding with taxation…

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Read more about the article ITR Filing Fees by CA: What You Should Expect to Pay

ITR Filing Fees by CA: What You Should Expect to Pay

ITR Filing Fees by CA Completing your income tax return can often be a complicated task. The more sources of income and deductions you have, the more complex filing them becomes. Several people opt to file their returns independently through the use of online websites. Others may prefer the option of hiring a Chartered Accountant (CA) to help them reduce their workload and ensure accuracy. However, it is essential to understand ITR filing fees by CA before divulging sensitive financial data to them, so you know exactly what to expect and avoid any surprises. This also includes knowing the ITR…

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Read more about the article Top CA Firm in Pitampura

Top CA Firm in Pitampura

Top CA Firm in Pitampura – Expert Chartered Accountants Selecting the Top CA Firm in Pitampura is important. It is particularly vital for a company in a busy location like Pitampura. You require a partner. A partner with an understanding of your financial requirements. A partner who can give you expert advice. This is where SapTax Hub comes into the picture. We do not just want to be your CA firm. We want to be your trusted guide.   Why Does a Local CA Firm Matters? Pitampura is a thriving economic hub; therefore, firms here require special assistance. Local CA…

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Read more about the article Union Budget Increases Ayushman Bharat Allocation by 24% to ₹9,406 Crore for Next Fiscal

Union Budget Increases Ayushman Bharat Allocation by 24% to ₹9,406 Crore for Next Fiscal

Union Budget Increases Ayushman Bharat Allocation The Union Budget increases in 2024-25 has proposed an increased allocation for Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) of ₹9,406 crore, up 24% from the previous allocation. The growth demonstrates the government's efforts to ensure that all citizens have access to quality healthcare. This scheme will now also cover gig workers, according to Finance Minister Nirmala Sitharaman. If you are willing to understand this scheme from the best chartered accountants in Delhi, then this blog is just for you. Focus on Gig Workers The anti-corruption infrastructure that has been created meets this need in…

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Read more about the article No Income Tax on ₹12 LPA: Middle-Class Memes Take Over the Internet on Budget Day

No Income Tax on ₹12 LPA: Middle-Class Memes Take Over the Internet on Budget Day

Union Budget 2025 has brought good news for the middle class. The announcement of no income tax on ₹12 LPA by Finance Minister Nirmala Sitharaman led to a meme fest on social media. As a part of the reorganized New Income Tax Regime 2025, this relaxation is given to reduce difficulties for early middle-income individuals. Let’s get into all of that, but first, let’s sink into the meme mania that swept the Internet! The Internet Has Been Meme-ing Up a Storm After the announcement of the new tax regime by the Finance Minister, social media was flooded with memes, and all of those were meant for…

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Read more about the article Importance of PAN and TAN in LLP Registration

Importance of PAN and TAN in LLP Registration

Setting up an LLP in India has various compliance requirements. The basic needs include getting a PAN and a TAN for Tax Deduction and Collection. These two components are vital to the smooth financial and legal functions of an LLP. PAN and TAN are a sign of the commitment of an LLP towards the tax laws of India and, hence, to the regulations. PAN for LLPs PAN is a unique ten-character long alphanumeric number issued by the Income Tax Department of India. It is the most important tool for tax administration. For LLPs, it is mandatory to obtain a PAN.…

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Read more about the article Income Tax Filing Tips for First-Time Taxpayers

Income Tax Filing Tips for First-Time Taxpayers

Filing an Income Tax Return (ITR) for the first time can seem overwhelming, but the process is simpler than it appears. With a clear understanding of tax provisions, the necessary documents, and step-by-step guidance, first-time filers can efficiently e-file their returns without hassle. This guide will walk you through the essentials of ITR filing and key considerations for a smooth experience. What is an Income Tax Return (ITR)? An ITR is a form used by taxpayers to disclose their income from various sources, deductions, investments, and expenses. Filing ITR is mandatory if your total income exceeds the basic exemption limit…

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Read more about the article Company registration for Real estate Company

Company registration for Real estate Company

The real estate sector in India is the second-largest employment generator after agriculture and the third-largest sector in terms of Foreign Direct Investment (FDI). With the market projected to reach ₹65,000 crores by 2024-25, it presents a lucrative opportunity for new businesses. Why Register a Real Estate Company in India? The Indian government has introduced initiatives like: Smart City Project (100 smart cities) Pradhan Mantri Awas Yojana (PMAY) (20 million affordable houses) Real Estate Investment Trusts (REITs), which could unlock ₹1.25 trillion in market potential These developments make it essential for real estate businesses to establish themselves legally and benefit…

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Read more about the article GST Registration for Online Service Providers

GST Registration for Online Service Providers

With the growth of digital businesses, online service providers must understand their Goods and Services Tax (GST) obligations. This guide outlines the GST registration process, turnover limits, and important regulations for online service providers in India. Turnover Limit for GST Registration As per GST regulations, service providers must obtain GST registration if their aggregate annual turnover exceeds: Rs. 20 lakh per annum in most states. Rs. 10 lakh per annum in Special Category States (such as Arunachal Pradesh, Nagaland, Manipur, and others). However, if an online service provider operates through an e-commerce platform or engages in inter-state supply of services,…

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Read more about the article Types of Digital Signature Certificates Available in Delhi

Types of Digital Signature Certificates Available in Delhi

DSCs, or Digital Signature Certificates, are the most essential certificates in today's digital era. These certificates prove the authenticity of documents and persons while surfing the internet. With the demand for DSCs in Delhi increasing at a great pace, finding a reliable Digital Signature Certificate Provider in Delhi is crucial. Businesses and individual professionals need a safe medium to carry out their digital transactions. At Saptax Hub, we ensure our DSC services meet all your requirements. Let's discuss the various types of digital signature certificates present in Delhi. What is a digital signature certificate? A DSC is an electronic version…

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Read more about the article Top LLP Registration Consultants in Delhi

Top LLP Registration Consultants in Delhi

Entrepreneurship is a very thrilling process, and it is always a good thing to start a business. At the same time, it has its nuances that are deemed as problems, primarily in legal and compliance jurisdiction. In particular, those who are to establish a Limited Liability Partnership (LLP) need to find the right advice. In Delhi, which is full of opportunities, many people and companies looking to start their own business turn to professional LLP registration consultants. Of them all, Saptax Hub is one of the most reliable partners. In this blog we will explain why it is necessary to…

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Read more about the article Why Hire an Income Tax Filing Consultant in Delhi

Why Hire an Income Tax Filing Consultant in Delhi

Filing income tax can be overwhelming, especially with the complex calculations and deadlines. A single mistake can lead to penalties or legal trouble. If you’re searching for a tax file consultant or an income tax consultant in Delhi, hiring a professional can save you from unnecessary stress. Whether you need assistance as an individual or business owner, expert income tax  ensure smooth tax filing and complianceyou can save yourself from all this hassle by hiring a professional income tax filing consultant Delhi is the business hub of India. The city is home to millions of professionals, startups, and large corporations.…

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Read more about the article Top Questions to Ask GST Registration Consultants in Delhi Before Hiring

Top Questions to Ask GST Registration Consultants in Delhi Before Hiring

Are you looking for GST registration services in Delhi? Finding the right GST registration consultant in Delhi can be overwhelming, with so many options available. Choosing the right expert ensures a smooth, error-free registration process and ongoing compliance. At Saptax Hub, we specialize in GST registration and compliance, offering comprehensive support for businesses in Delhi, Moradabad, and across India. In this guide, we’ll help you understand how to evaluate a GST registration consultant near me by asking the right questions before hiring. Below are the Top Questions to Ask GST Registration Consultants in Delhi Before Hiring.   1. What Are…

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Read more about the article GST Rate for Bundled Service of Renting Premises with Catering: 5% | West Bengal AAR Ruling

GST Rate for Bundled Service of Renting Premises with Catering: 5% | West Bengal AAR Ruling

One of the important decisions for Goods and Services Tax has come from the Court of West Bengal, related to that offering bundled services of renting premises along with catering service. This ruling issued by the West Bengal Authority for Advance Ruling (AAR) states that such services which include premises rent along with catering at nomenclatured premises have attracted a 5% GST rate. Such an update is more significantly important to the event management company, banquet hall as well as the others renting spaces along with extra added catering service. Well, let's dive into what it means, to whom it…

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Read more about the article How Much Money is Required to Open a PVT Ltd company?

How Much Money is Required to Open a PVT Ltd company?

Starting a Private Limited (PVT Ltd) company is a great way to do business, but one of the primary concerns for entrepreneurs is understanding the pvt ltd company registration fees in Delhi and the overall pvt ltd company cost. These expenses include registration charges, legal fees, and taxes. In this blog, we’ll break down all aspects of setting up a PVT Ltd company, from costs to taxation, so you can plan accordingly.. These setup costs of a PVT Ltd company are different in India. Some or all of the following fall within: registration fees, legal charges, office expenses, and minimum…

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Read more about the article Tax Planning Tips for Businesses in Delhi from Leading CA Firms

Tax Planning Tips for Businesses in Delhi from Leading CA Firms

Effective tax planning is essential for any business, especially in a commercial hub like Delhi. Managing taxes efficiently ensures compliance, financial stability, and long-term growth. Whether you're searching for tax planning near me or need guidance from success tax professionals, having a trusted expert can help reduce costs, mitigate risks, and optimize financial strategies.. Good tax planning shall enable you to save cost, reduce risk, and focus mainly on growth. In Delhi, the process should be smooth and successful only with the right engagement of experienced CA firms. Know Your Tax Obligations This means knowing what is expected. Business owners…

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Read more about the article November 2024 Tax Compliance Deadlines for Income Tax and GST | Important Dates for Businesses

November 2024 Tax Compliance Deadlines for Income Tax and GST | Important Dates for Businesses

Tax deadline compliance is something that business entities and individuals need to recall. In November 2024, GST and Income Tax filing deadlines require great attention so that both of them will not cross the deadlines. If deadlines are not complied with, fines, interest, and increased scrutiny from the tax officials can be faced by the people. Here are some major compliance dates which are applicable in the month of November 2024. All deadlines are to be well understood for financial record management and to meet the required statutory compliances. Saptax Hub, the best CA firm in Delhi, guides you on…

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Read more about the article Odisha GST Registration: Biometric Aadhaar Authentication & Document Verification Guide

Odisha GST Registration: Biometric Aadhaar Authentication & Document Verification Guide

The government of Odisha recently released an advisory on Biometric-Based Aadhaar Authentication and Document Verification for applicants under the Goods and Services Tax. From now onwards, this is going to be a very important factor for every business and individual who wants to take advantage of goods and services tax registration. This new directive will serve the purpose of simplifying the process, ensuring authentic registrations, and checking fraudulent activities. Here below is the detailed clarification, explaining to the applicants what it entails and what they need to do to come up to the mark. Biometric-Based Aadhaar Authentication: Game Changer Biometric-based…

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Read more about the article Key Amendments in Input Tax Credit (ITC) under Finance Act 2024

Key Amendments in Input Tax Credit (ITC) under Finance Act 2024

The Finance Act, 2024, was brought to India to incorporate amendments in the GST law. And certainly, it brought changes regarding the input tax credit (ITC). It has brought an amendment regarding Section 16(5) and Section 16(4), which is to be given effect from September 27, 2024, whereby an amendment has been made that extends the deadline for claiming ITC. The changes have come to bring more flexibility in taxpayers' hands and make them fulfill the conditions as prescribed under the GST law. What is input tax credit (ITC)? Input tax credit refers to the reduction allowed the taxpayer of…

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Read more about the article GSTN e-Services App: A New Digital Solution for Streamlined GST Compliance

GSTN e-Services App: A New Digital Solution for Streamlined GST Compliance

A recent GSTN advisory discloses that the newly launched e-Invoice QR Code Verifier App is soon going to be replaced by the new GSTN e-Services App. This new change is in line with activities undergoing to get more efficiency and user-friendly GST services. For now, we are going to discuss why this change matters and how one should prepare for the transition in our next blog post. The new change ensures that the taxpayer and business remain compliant and can take full advantage of the digital services that the GST offers. Understanding this shift. What is the purpose of the…

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Read more about the article Gauhati High Court Ruling on CGST Limitation Period for FY 2018-19

Gauhati High Court Ruling on CGST Limitation Period for FY 2018-19

Recently, the Gauhati High Court has passed an important judgment relating to limitations for the financial year 2018-19. The court has held in its decision that any orders passed after the statutory limitation period without an extension notification being issued under Section 168A of the Central Goods and Services Tax (CGST) Act would be invalid. The judgment is very crucial for both the taxpayers as well as the authorities concerned. The Core Issue: The case rested on the non-extension of the limitation period for the fiscal year 2018-19. Under the CGST Act, there are certain timelines within which orders for…

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Read more about the article Key Highlights from the 54th GST Council Meeting: Relief for Businesses

Key Highlights from the 54th GST Council Meeting: Relief for Businesses

The recent 54th meeting of the GST Council was conducted, and its highlight was to bring respite across industries in India. Major decisions taken at the meeting were inclined towards being helpful for the businesses and also to boost economic growth. Here's a look at the key highlights from the meeting: Key Changes Announced: 1. Relief for Exporters The council agreed to ease the process for the exporters. This means simpler procedures for refunds, which ascertains that companies don't have to wait longer than they ought to just to get their tax returns. The government is keen on promoting exports…

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Read more about the article LLP Registration for Professional Services Firms

LLP Registration for Professional Services Firms

Why Choose an LLP for Your Professional Service Firm? LLP Registration for Professional Services is an ideal option for firms in the professional services sector. This structure offers a unique blend of benefits from both a partnership and a company. In an LLP, partners come together to run the business but are not personally liable for the firm's debts. This means that if the business faces financial issues, personal assets of the partners, such as their house or car, remain protected. LLPs are particularly effective for service-based firms, such as legal consulting, accounting, or business advisory firms. Benefits of LLP…

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Read more about the article How to File ITR Online – Step by Step Guide to E-file Income Tax Return for FY 2024-25 (AY 2025-26)

How to File ITR Online – Step by Step Guide to E-file Income Tax Return for FY 2024-25 (AY 2025-26)

Filing Income Tax Returns (ITR) is a mandatory requirement for individuals meeting specific income and financial criteria. The process has been simplified through online platforms, making it easier for taxpayers to fulfill their obligations efficiently. This guide provides a step-by-step approach to filing ITR online for the financial year 2024-25 (assessment year 2025-26). What is E-Filing? E-filing refers to the process of submitting an income tax return electronically through the official Income Tax portal. Taxpayers can log in using their Permanent Account Number (PAN) and access features that streamline the tax filing process. Step-by-Step Process to File ITR Online Step…

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Read more about the article GST For Freelancers: Registration, GST Rates, Exemption & Rules

GST For Freelancers: Registration, GST Rates, Exemption & Rules

Freelancing in India has seen a remarkable rise, offering professionals flexibility and independence. However, with this freedom comes the responsibility of tax compliance, particularly with Goods and Services Tax (GST). Understanding GST obligations is crucial for freelancers to operate legally and efficiently. This guide covers everything freelancers need to know about GST registration, applicable rates, invoicing rules, and penalties for non-compliance. Who is Considered a Freelancer under GST? A freelancer is an individual providing services on a contract basis without being a full-time employee. While freelancers enjoy the liberty of choosing their work, they must adhere to tax laws applicable…

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Read more about the article GST Budget 2024 Highlights: New Deadlines for Demand Notices and ITC Claims
GST Budget 2024

GST Budget 2024 Highlights: New Deadlines for Demand Notices and ITC Claims

The GST Budget 2024 introduced several significant changes that affect how businesses manage their taxes. Understanding these changes is crucial, particularly in areas like demand notices and Input Tax Credit (ITC) claims. This knowledge is vital for effective TDS filing in Delhi. New Deadlines for Demand Notices One of the major updates in the GST Budget 2024 is the introduction of new timeframes for issuing demand notices. These notices are issued when a business has underpaid taxes, alerting them to a tax deficiency. Previously, the deadlines for these notices varied depending on the issue. However, the GST Budget 2024 has…

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Read more about the article RBI Penalties Not Subject to GST: Maharashtra AAR
GST on RBI penalties

RBI Penalties Not Subject to GST: Maharashtra AAR

Recently, an important clarification was issued regarding the applicability of GST on certain charges. The Maharashtra Authority for Advance Rulings (AAR) has ruled that penalties, late fees, and fines levied by the Reserve Bank of India (RBI) do not fall under the purview of GST. This ruling comes after significant debate and confusion regarding the classification of such charges under GST laws. For guidance on GST compliance services in Delhi, be sure to refer to our blog. What Does This Mean? In cases involving the RBI, penalties are typically imposed for rule breaches or violations of contractual agreements. The key…

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