User Intent Many businesses and individuals registered under the Goods and Services Tax (GST) need to renew their registration to continue legal operations. If your GST registration is about to expire or has been canceled, you must understand the renewal process. This guide provides a comprehensive, step-by-step approach to renewing GST registration seamlessly.… Read More »
If toll tax is added to car hire bill on which amount TDS will be deducted Yes, you are correct. TDS is not applicable on toll tax as it is not considered as income. Therefore, when toll tax is included in a car hire bill, TDS will not be deducted on it. TDS is only… Read More »
Why is the Output GST a Liability? Introduction In the world of modern taxation, Goods and Services Tax (GST) plays a pivotal role in shaping the financial landscape for businesses. GST is a value-added tax imposed on the supply of goods and services, and it is collected by businesses on behalf of the government. One… Read More »
What is advance tax Advance tax is the taxes paid in advance on the estimated income of the current financial year. It is a way of paying tax on an ongoing basis rather than waiting until the end of the year. In India, individuals and businesses require to pay advance taxes if their tax liability… Read More »
Is corporate tax a direct or an indirect tax Direct taxes are taxes that are levied on individuals or entities based on their income, profits, or assets. Corporate tax is a direct tax that is imposed on the profits earned by corporations and other business entities. The tax is calculated based on the net income… Read More »