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Goods and Services Tax (GST) refunds are essential for taxpayers to recover excess GST payments. A refund process ensures taxpayers reclaim their rightful dues, whether they have deposited excessive cash in the electronic cash ledger, paid tax by mistake, or accumulated input tax credits (ITCs) due to zero-rated sales or an inverted tax structure. The refund … Read more
The word ‘audit‘ implies that it is a formal examination of an organisation’s financial records and the creation of a report, usually by a third party. Numerous types of audits are carried out in accordance with different laws, including stock audits, cost audits, and company audits or statutory audits performed under company law provisions. Similar … Read more
The finance minister Nirmala Sitharaman has made changes in the income tax slabs under the new tax regime in Budget 2024. The new income tax slabs under the new tax regime have retrospectively come into effect from April 1, 2024 for the current financial year 2024-25. The changes in income tax slabs of new tax … Read more
Mumbai-based Manba Finance is all set to launch its initial public offering (IPO) on September 23. The company has fixed the price band for its upcoming IPO at ₹114to ₹120 with a face value of ₹10. Investors can place bids for at least 125 equity shares, and in increments of 125 Equity Shares thereafter. The IPO consists solely of a fresh issue … Read more
Today, individuals and businesses no longer need to bother with writing cheques for amounts owed. You do not have to deal with having the funds credited into your account at a later date, especially when you need money during emergencies. Thanks to the National Payments Corporation of India (NPCI) and the various online payments platforms … Read more
It is becoming increasingly apparent that regular auditing is important to a business. Not only is regular auditing important to a business, but ethical and transparent auditing is the foundation upon which a business builds trust on all levels. What Is Tax Audit? A tax audit is an integral part of examining a person’s income. … Read more
In the dynamic landscape of innovation, protecting intellectual property (IP) rights is paramount for inventors and businesses alike. Patents serve as a crucial tool for safeguarding inventions and fostering innovation by granting exclusive rights to inventors for a limited period. However, obtaining a patent requires navigating a complex process, starting with a thorough patent search … Read more
In the corporate world, different types of companies exist, each with its unique characteristics and legal requirements. This article aims to highlight the differences between Private Companies, Public Companies, and One Person Companies (OPCs) based on various aspects such as applicable sections, capital requirements, number of members and directors, transferability of shares, public issue provisions, … Read more
The Finance Minister has introduced a new tax rate structure for salaried employees: New Tax Rate Structure: ₹0-3 lakh: NIL₹3-7 lakh: 5 percent₹7-10 lakh: 10 percent₹10-12 lakh: 15 percent₹12-15 lakh: 20 percentAbove ₹15 lakh: 30 percent Education Budget 2024 Updates: The Central government will provide Rs 1.48 lakh crore for education and employment and skill, announced … Read more
You can definitely file your income tax return on your own. Income tax e filing portal is very user friendly where anyone with basic knowledge of income tax can file their return. But I will recommend you to file the income tax return with the proper advice of a Chartered accountant. I have many clients … Read more