Category Tax

The Goods and Services Tax (GST) input tax credit is one of the most significant and business-friendly components of India’s GST regime. It not only avoids cascading taxes but also helps businesses improve their cash flow and effectively reduce their…

A Permanent Account Number(PAN) card is one of the most essential identity and financial documents in India. Issued by the Income Tax Department, it is used for various purposes, including filing income tax returns, opening bank accounts, and conducting high-value…

India’s introduction of the Goods and Services Tax (GST) simplified indirect taxation through a unified tax regime that encompasses several central and state taxes. However, from a supplier’s perspective, complying with GST can be challenging for small businesses due to…

When you apply for a PAN card in India, you need to fill in clear details for smoother processing of the application. While personal details are a crucial part of the application form, one section that may be confusing is…

Investing in real estate in a prime city like Delhi is a wise decision. However, purchasing a property in Delhi, whether residential or commercial, involves a significant commitment beyond the sale price. This financial commitment comprises two crucial elements –…

For salaried employees, it is crucial to understand all the components of their salary to optimise their tax and effective financial planning. One of the most confusing components of a salary is the Transport Allowance. With the evolving tax rules,…

Discounts are often sent in many forms to help spur a sale or enhance cash flow. Trade discounts and cash discounts are the two most common discounts in business and accounting. Although they encourage a purchase, trade discounts and cash…

With globalisation and increasing cross-border transactions, foreign remittances have become a common part of many Indian financial activities. Whether it is for funding education abroad, sending monet to family, investing in overseas assets or travelling, people often wonder if there…

The Indian Government has consistently focused on improving tax compliance and broadening the taxpayer base. To increase tax compliance, two provisions were introduced in the Income Tax Act. 1961 – Section 206AB and Section 206CCA. These sections are designed to…

Expense reimbursement can be tricky in Indian Tax, as it is confusing due to the difference between pure cost recovery and taxable income. Reimbursements can range from travel and accommodation costs to office supplies and equipment. While reimbursements seem straightforward,…