Are Company registration and GST registration the same No, Company registration and GST (Goods and Services Tax) registration are not the same. While both registrations are important for doing business in India, they are distinct and serve different purposes. To visit: https://www.mca.gov.in Company registration refers to the procedure of establishing a company in accordance with… Read More »
TDS deduction you can follow these steps: Gather necessary documents: Collect all relevant documents, including the TDS certificate issued by the bank or financial institution where you have the FD, and the Form 26AS, which reflects the details of TDS deducted. Calculate TDS deduction: Determine the total TDS amount deduct on the interest… Read More »
What is Section 24 of Income Tax Act? Section 24 of the Income Tax Act is relate to the deduction of interest on home loans for taxpayers who own a house property. The section provides for two types of deductions – a deduction of up to Rs. 2 lakh for interest paid on a self-occupied… Read More »
Long-term capital asset In income tax, Long-term capital asset refers to any asset that is held by an individual or a company for a period of more than 36 months before being sold. The sale of such assets generates long-term capital gains or losses, which need to tax at a different rate than short-term capital… Read More »
Standard Deduction in income tax The meaning of “standard deduction” in the context of income tax rules, refers to a fixed amount of deduction that is applicable to the gross income of salaried individuals, regardless of the actual expenses incurred. The purpose of the standard deduction is to reduce the tax liability and provide relief… Read More »
GST Compliance Checklist Excel Visit for more information: https://www.gst.gov.in/ Registration: Check if your business meets the turnover threshold for GST registration. Register for the Goods and Services Tax (GST) and acquire a distinct GST registration number. Invoicing and Documentation: Ensure that your invoices are in the prescribed format and contain all the required information. Maintain… Read More »
