Taxes – especially TDS (Tax Deducted at Source)-can sometimes feel like a maze. Whether you’re a salaried employee, a freelancer, an investor, or a business owner, understanding how TDS works is crucial for managing your finances efficiently. Don’t worry, we’ve…
If you’ve ever earned interest on a fixed deposit, savings account, or any loan, you may have noticed some deductions made from your earnings. One of the reasons for these deductions is Section 194A of the Income Tax Act. This…
Life insurance proceeds are fully exempt from tax under Section 10(10D) if certain conditions are met: For policies issued on or after April 1, 2012: The annual premium must not exceed 10% of the sum assured. For policies issued between…
Introduction- Section 195 of the Income Tax Act, 1961, deals with the Tax Deducted at Source (TDS) on payments made to non-residents. It requires that any person (including a business or individual) making payments to non-residents for services, royalties, technical…
MRP (Maximum Retail Price) registration is a regulatory process in India that ensures manufacturers and sellers declare the maximum price at which a product can be sold to consumers. The Legal Metrology Act, 2009, mandates that businesses display MRP on…
What is ICEGATE Registration? ICEGATE (Indian Customs Electronic Gateway) is an online platform operated by the Central Board of Indirect Taxes and Customs (CBIC). It facilitates electronic filing of import/export declarations, duty payments, and various other customs-related services for businesses…
GEM (Government e-Marketplace) Registration is an essential process for businesses and service providers who wish to sell their products and services to government departments, ministries, and public sector undertakings in India. The platform, introduced by the Government of India, aims…
This article will give you a glimpse on the GST annual return. Let us first have a short brief on GST. GST is an indirect tax imposed on goods and services. It had been introduced with the regime “one nation,…
LEI (Legal Entity Identifier) is a 20-character unique identification code assigned to entities engaged in financial transactions. It is a globally recognized system introduced by the Financial Stability Board (FSB) and regulated by the Reserve Bank of India (RBI) in…
DLT (Distributed Ledger Technology) registration is a regulatory requirement in India for businesses and entities that send commercial SMS and voice communications. The Telecom Regulatory Authority of India (TRAI) introduced this system to curb spam and fraudulent communications by ensuring…
DUNS (Data Universal Numbering System) registration is the process of obtaining a unique nine-digit DUNS number issued by Dun & Bradstreet (D&B). This number serves as a universal identifier for businesses and is widely used by government agencies, financial institutions,…
The Equalisation Levy was introduced by the Finance Act, 2016 to tax non-resident service providers offering online advertisement services, digital advertising space, or any other service related to online advertisements. The purpose of this levy was to ensure that online…