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Income tax disputes are a recurring challenge for taxpayers and tax authorities worldwide, and 2024 has been no exception. As tax systems evolve and regulations grow complex, disputes arise. They stem from misunderstandings, different...
Form 16 is a term that frequently pops up during the tax season in India, but what is it really, and why is it so important? Whether you’re a salaried employee navigating the world...
Starting from the January 2025 tax period, the Goods and Services Tax Network (GSTN) has introduced significant changes to Table 12 of the GSTR-1 and GSTR-1A forms, focusing on the mandatory reporting of Harmonized...
In a globalized world, businesses, individuals, and governments engage in cross-border transactions. So, we must regulate foreign exchange to ensure stability and legality. The Foreign Exchange Management Act (FEMA), enacted in India in 1999,...
India is an entrepreneurial powerhouse, offering countless opportunities for businesses to grow and thrive. The government provides many schemes and incentives for Private limited companies, designed to ease financial burdens, promote innovation, and encourage...
The GST has simplified India's indirect taxes. It introduced the Reverse Charge Mechanism (RCM) to boost tax compliance and widen the tax base. RCM shifts the responsibility of tax payment from the supplier to...
What is a Private Limited Company?
Private company means a company having a minimum paid-up share capital as may be prescribed, and which by its articles
(i) restricts the right to transfer its shares;
(ii) except in...
The Goods and Services Tax (GST) has revolutionized the way businesses operate in India. One of its most significant benefits is the Input Tax Credit (ITC) mechanism, which can drastically reduce your tax liability...