TDS Return compliance Compliance with TDS (Tax Deducted at Source) return filing is crucial for businesses or individuals who have deducted TDS and are required to report and remit the deducted amounts to the tax authorities. The specific compliance requirements may vary depending on the country and its tax laws. Here are some common aspects… Read More »
Capital structure decision Capital structure decision: Tax planning has a significant impact on capital structure decisions, which involve determining the composition of a company’s financing sources, such as debt and equity. By integrating tax considerations into capital structure decisions, companies can strategically optimize their tax positions and minimize their overall… Read More »
HUF income tax Account Opening: The Karta of the HUF, who is the head of the family, can open a bank account in the name of the HUF. The account can be open in any authorized bank or financial institution. HUF income tax Separate Entity: The HUF account is treat as a… Read More »
What is HUF in ITR? When filing Income Tax Returns in India, you might come across the term Hindu Undivided Family, which stands for hindu undivided family. The concept of HUF is unique to India and is recognized under the Hindu law, as well as the… Read More »
Partnership file as an s-corp What is a Partnership? A partnership is a business arrangement in which two or more individuals collectively own and manage the business. Partnerships are relatively simple to form and manage. The income and losses of the partnership flow through to the partners’ individual tax returns, avoiding the double… Read More »
Tax planning for hospitals Tax planning for hospitals involves implementing strategies and utilizing provisions within the tax code to optimize the tax position of the hospital. Here are some key considerations for tax planning in the hospital industry: 1. Non-profit Status: Many hospitals operate as nonprofit organizations, which may qualify them for tax-exempt status. Tax… Read More »
GST registration for private limited company Yes, GST (Goods and Services Tax) registration is mandatory for a private limited company in India under certain circumstances. Threshold Turnover: If your company’s annual turnover exceeds the specified threshold, GST registration is mandatory. The threshold limits vary based on the type of business and the state in which… Read More »
Can HUF give gift to its members Yes, a Hindu Undivided Family (HUF) can give gift to its members. As per the Hindu law, an HUF can make of its ancestral or self-acquired property to its members. The are typically given by the karta (head) of the HUF on behalf of the family. However, it’s… Read More »
Can HUF earn Commission Income Yes, a Hindu Undivided Family (HUF) can earn commission income. HUFs, as a separate legal entity under Indian tax laws, can engage in various income-generating activities, including earning It can earn through various activities, such as acting as an agent or intermediary in facilitating transactions or providing services for… Read More »
Personal tax planning Personal tax planning refers to the process of managing one’s personal finances and making strategic decisions to minimize the amount of tax payable on personal income and assets. It involves analyzing the various components of an individual’s financial situation, such as income, investments, expenses, deductions, and credits, in order to optimize tax… Read More »
