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Investing in an immovable asset, like house or land, is one of the most valuable investments ever. Property is a lucrative investment, but it is associated with tax implications—one of which is Capital Gains Tax (CGT).  Doesn’t matter if you own a house, invest in real estate, or run a business; knowledge of capital gains… Continue reading Capital Gains Tax on Property: A Complete Manual for Beginners!

If you are starting a new business and expecting turnover to exceed ₹40 lakhs (Rs. 20 Lakhs or more for a special category of states), then you must register and get yourself a Goods and Services Tax Identification Number (GSTIN). This identification number is unique for all businesses and helps in filing GST returns.  If… Continue reading What’s a GSTIN Number? How to Apply Like a Pro!

Finance Minister Nirmala Sitharaman pegged a new income tax bill on February 13, 2025, to simplify tax compliance rules. The bill replaces the old Income Tax Act of 1961 with all new tax reforms. The New IT bill presents a more structured Tax administration with crisp chapters, new terminologies, streamlined compliance processes, and refined compliance… Continue reading Income Tax Bill 2025: Key Takeaways on Tax Reforms!

According to the Report published by The Economic Times in December 2024, a whopping 59% of the companies in India have been through financial fraud in the last 24 months. Among all the companies that participated in the survey, 50% identified procurement fraud as a major concern. Businesses like yours are just one step away… Continue reading Unmasking Fraud: How Invoice Validation Can Protect You from Fake Invoices

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!

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!