The Reserve Bank of India (RBI) has proposed new regulations on how lenders can charge penalties on loans. Many lenders currently charge extra interest, known as penal interest, when a borrower fails to make their loan repayments on time or violates the loan terms
The adoption of the Indian Accounting Standards (IND AS) marks a significant shift in the way companies in India report their financial statements.
1) Motor Vehicle used for transportation of Persons(A) ITC is blocked for motor vehicles have approved seating capacity ≤ 13 persons (including the driver)IT...
Section 16 of CGST ACT 2017 talks about Input Tax Credit mechanism, which allow Taxpayers to offset the GST Input Tax Credit with the GST Output Tax Liability. This helps in avoiding the cascading effect of taxes and promote seamless flow of credit through the entire supply chain.
Here are some points to keep in mind while filing a tax return as a freelancer or self-employed individual
In this article, the author shares with you all the applicable provisions on Foreign Company.
Digitization has sparked a revolution in the Indian Income Tax Department, providing a multitude of benefits to both taxpayers and the government. With the advent of digitization, the Income Tax Department has made significant progress in modernizing various tax-related processes.
In this article author has discussed about the External confirmation and shared the sample format for obtaining Creditors Confirmations
The government has notified amnesty scheme for small businesses, non-filers of final returns, and taxpayers whose Goods and Services Tax (GST) registration has ...
Section 68 talks about the person in charge of a conveyance carrying any consignment of goods of value exceeding such amount as may be prescribed to carry with him such documents and such devices as may be prescribed.
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