Navigating tax compliance looks a bit difficult, but section 194T makes it easier for you to understand tax filing. It concentrates on handling tax deducted at source efficiently. Let’s scroll down in detail. Section 194T in Union Budget Union Budget 2024 meeting, led by FM Nirmala Sitharaman, witnessed the introduction of TDS on partners remuneration.… Continue reading Section 194T: A Guide to TDS Applied on Partnership Firms!
Income Tax Filing Deadlines for FY 2024-25 & Demystifying the Updated Return!
Over 7.28 Crores ITRs were filed until 31 July 2024 for AY 2024-25. This is a record number in the history of Income Tax Returns. The total number of returns filed in AY 2024-25 is 7.5% more than last year. In 2022, Smt. Nirmala Sitharaman, the Finance Minister of India, announced a whole new income… Continue reading Income Tax Filing Deadlines for FY 2024-25 & Demystifying the Updated Return!
Union Budget 2025: Key takeaways in 5 Minutes!
The 8th consecutive budget meeting held on 1st February, Saturday which was chaired by Union Finance Minister, Nirmala Sitharaman witnessed key announcements for the middle class, under privileged, farmers, businesses, and more. Check out the key highlights! Indirect Tax Reforms in Union Budget 2025 1. Simplified Tax Slabs: New tax slabs and rates formed the… Continue reading Union Budget 2025: Key takeaways in 5 Minutes!
5 Ways Online Billing Software Reduces Payment Delays!
Are you frustrated with delayed payments that are just hampering your cash flow? Don’t worry, think of a solution that can resolve all these payment issues. A platform that streamlines your invoicing, automates payment reminders, and ensures timely payments at every time. No it’s not your imagination, it’s all possible with modernized billing solutions. That… Continue reading 5 Ways Online Billing Software Reduces Payment Delays!
GST Updates 2025: Everything You Need to Know About New Changes in GST
2024 was a transformative year for the indirect tax system in India, i.e. GST. We witnessed unprecedented reforms in the GST, such as the Amnesty Scheme, the re-introduction of the form GSTR-1A, the implementation of the Invoice Management System (IMS), and the facility to declare negative tax liability. These were the major updates in GST… Continue reading GST Updates 2025: Everything You Need to Know About New Changes in GST
Comparing Financial and Cost Accounting Systems in Management
The success of any business depends on the profitability of the products or services a company offers. The profitability of a business is a function of sales price and the cost incurred. Increasing sales prices beyond a specific limit can give you an edge over your competitors and may capture your market share. So, as… Continue reading Comparing Financial and Cost Accounting Systems in Management
Accounting Standards: Everything You Need to Know!
In this fast-paced world, where numbers, accuracy, and transparency become the cornerstone of reliability in financial reporting. But how can businesses, irrespective of their size and type, depict the same financial language? Here’s where accounting standards- the universal guide for the financial journey come into play. These standards ensure consistency, comparability, and justice to the… Continue reading Accounting Standards: Everything You Need to Know!
ARN Number: What is ARN & How to Check GST Registration Status Online
Have you ever tracked your order on e-commerce marketplaces to see when it will get delivered? How does it feel knowing the latest status of your order? It feels like you are informed, right? How would you feel knowing that a similar system is implemented in the GST registration process? Yes, you read that right.… Continue reading ARN Number: What is ARN & How to Check GST Registration Status Online
Management Accounting – Meaning, Importance, Types, and Techniques!
Imagine you are the captain of the ship. You are steering the ship across unchartered waters without a compass or a map. Does this sound daunting to you? Management accounting is similar to that crucial map for businesses that navigates the complexities of financial processes to simplify decision-making. In today’s rapidly evolving business space, financial… Continue reading Management Accounting – Meaning, Importance, Types, and Techniques!
International Financial Reporting Standards: Gateway to Foreign Investment
International Financial Reporting Standards (IFRS) is a set of accounting standards developed and maintained by the International Accounting Standards Board (IASB); these accounting standards or frameworks are accepted by India. In 2011, the Institute of Chartered Accountants of India released a concept paper on the strategy of adoption of IFRS in India. This move was… Continue reading International Financial Reporting Standards: Gateway to Foreign Investment