Surcharge is an additional tax levied on the base income tax of individuals, Hindu Undivided Families (HUFs), companies, and other taxpayers. It is not applied […]
Section 14A Amendments under the Finance Act, 2022: Clarifications, Compliance, and Strategic Implications
Section 14A of the Income Tax Act is one of the more debated provisions in Indian taxation. It deals with the disallowance of expenditure incurred […]
Introduction to E-Invoicing under GST
The implementation of the Goods and Services Tax (GST) brought a transformative change in the way businesses handle taxation in India. One of the most […]
Comprehensive Guide to Financial Statements for Non-Corporate Entities: Preparation, Analysis, and Strategic Use
Non-corporate entities, including sole proprietorships, partnerships, and small-scale businesses, constitute a significant portion of the economy. These entities often operate with simpler structures than corporations, […]
Understanding Depreciation: Concept and Importance for Business Assets
Depreciation is a fundamental concept in accounting, deeply intertwined with the management of business assets. Businesses acquire assets such as machinery, vehicles, furniture, equipment, and […]
Understanding Provisional Financial Statements
Provisional financial statements are interim reports prepared by a company when the final financial statements have not yet been formally approved or adopted at the […]
Unlisted Company Investments and Tax Deductions: Understanding the High Court Ruling
Investing in unlisted companies has long been considered a strategic approach for investors seeking opportunities beyond the public markets. These investments often promise higher returns […]
Introduction to FEMA and Banking Regulations
The financial landscape in India has witnessed significant evolution over the past few decades, primarily guided by two key pillars: the Foreign Exchange Management Act […]
Form 26Q Explained: A Complete Guide to TDS Return Filing for Non-Salary Payments, Deposits, and Certificates
Tax Deducted at Source, commonly known as TDS, is one of the primary methods of indirect tax collection by the government. Under this system, tax […]
Understanding the Insolvency and Bankruptcy Code: A Complete Overview
Every economy faces the challenge of companies and individuals struggling to repay their debts. Financial distress can occur due to poor business decisions, market downturns, […]