Can we provide a personal PAN number for GST registration No, you cannot provide a personal PAN (Permanent Account Number) number for GST (Goods and Services Tax) registration of a company. It requires a PAN number that specifically issue to the company by the Income Tax Department of India. For more information to Visit https://www.gst.gov.in/… Read More »
What is referral income and how is it taxed Referral income refers to the commission or incentive received by an individual for referring someone or a business to another individual or company. Referral income form of income is commonly earned by professionals in the sales or marketing field and it is taxed. To visit https://www.gst.gov.in/… Read More »
Corporate and non-corporate assessee In India, the term “assessee” refers to an individual or entity that is legally liable to pay income tax under the Income Tax Act, 1961. The Income Tax Act categorizes taxpayers into two groups based on their legal structure: For more information to Visit https://www.mca.gov.in A corporate assessee is an entity… Read More »
GST and Income Tax It follows a consumption-based model, where tax is collect at each stage of the supply chain, from the manufacturer to the end consumer. GST replaces multiple indirect taxes such as excise duty, service tax, and VAT, with the objective of establishing a unified market throughout the country… Read More »
GST Compliance GST Compliance, Under the Goods and Services Tax (GST) regime in India, different categories of taxpayers are required to File returns to fulfill their GST Compliance. Here are the types of taxpayers and their corresponding return filing requirements: Regular taxpayers: Registered individuals or businesses who are liable to pay GST on their… Read More »
Can a non-GST registered company issue a tax invoice A non-GST registered company is one that has not obtained GST registration, either because its turnover is below the threshold limit or it falls under the exempt category. The question of whether such a company can issue a tax invoice depends on the nature of its… Read More »
Street Vendors In India Street Vendors In India, To register for taxes as a street vendor in India, the following steps should be followed: Obtain the necessary licenses: Street vendors must acquire licenses from the relevant local authorities, such as municipal corporations or local bodies, to conduct their business operations. They might also need… Read More »
