Taxation is one of the most fundamental functions of any government. It provides the essential revenue required to run public services, infrastructure, social welfare, and […]
Introduction to GST Input Tax Credit and Its Importance
The Goods and Services Tax (GST) is a comprehensive indirect tax system designed to unify multiple indirect taxes into a single framework. One of the […]
Comprehensive Guide to Income Under the Head Salaries and Its Computation
Salary income is one of the most common and significant sources of earnings for individuals. It represents the compensation received by an employee from an […]
Introduction to the Insolvency and Bankruptcy Code 2016
The Insolvency and Bankruptcy Code 2016 was introduced as a comprehensive reform to address the growing issues of insolvency and bankruptcy in India. Before the […]
NBFC Not Required to Deduct TDS on Interest Income Credited from Acquired Portfolio of Another Company
The taxation of interest income in financial transactions often leads to complex interpretations, especially when it comes to the obligation of deducting tax at source. […]
Understanding Revenue Recognition under AS-9
Revenue recognition is a fundamental aspect of financial reporting, as it determines the timing of when income is recorded in the profit and loss account. […]
Introduction to Form 3CD and Its Role in Tax Audit
In the framework of tax compliance in India, certain taxpayers are required to undergo a statutory tax audit under section 44AB of the Income Tax […]
The Foundation of GST in India
The Goods and Services Tax in India represents one of the most significant reforms in the country’s indirect taxation system. Introduced to replace a complex […]
Understanding GST on Renting of Residential Dwellings to Registered Persons
The Goods and Services Tax (GST) regime in India has significantly transformed the way indirect taxes are levied and collected. Among the many aspects businesses […]
Understanding the Concept of Business Connection
Business connection is one of the most important concepts in Indian taxation when determining whether income earned by a non-resident should be taxed in India. […]