Are You Ready for AI-Powered Financial Reporting?
In today’s fast-paced commercial world, generative AI technologies are crucial to staying ahead of the competition. Utilizing generative artificial intelligence to automate the creation of financial statements, notes, and industry analyses is one such ground-breaking invention. This revolutionary method guarantees accuracy and adherence to industry standards while also streamlining the accounting process. Let’s investigate how […]
Time-Saving Tips: How to Make Your Business Life Easier!
Tips for Making Business Life Easier
Dreaming Big: The Path to Becoming a Listed Company
Dreaming big is the cornerstone of entrepreneurial success. Every thriving business you see today began with a dream, a vision that surpassed limitations and propelled the founders toward greatness. One such pinnacle of success is becoming a listed company. In this blog, we’ll delve into the journey of transforming your business from a mere idea […]
Affordable Housing Scheme Under GST: Making Dreams of Homeownership a Reality with Tax Benefits
In recent years, the Indian government has taken significant steps to address the housing needs of lower and middle-income households. One such initiative is the affordable housing scheme under the Goods and Services Tax (GST). This scheme aims to provide relief to aspiring homeowners by offering lower tax rates on affordable housing units. Along with […]
Recommendations of 52nd GST Council Meeting
Summary: GST Council recommends amendments in conditions of appointment of President and Member of the proposed GST Appellate Tribunals regarding eligibility and age GST Council recommends nil rate for food preparation of millet flour in powder form and containing at least 70% millets by weight when sold in loose form, and 5% if sold in […]
CBDT extends due date for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24
Latest Update: Introduction: The Central Board of Direct Taxes (CBDT) has issued Circular No. 16/2023, dated 18th September 2023, addressing concerns raised by taxpayers and stakeholders regarding the filing of Form 10B, Form 10BB, and ITR-7 for the Assessment Year 2023-24. In this article, we’ll delve into the key points of this circular and its […]
Income Tax Audit u/s 44AB: Applicability, Due Date, Form 3CA, 3CB & 3CD 📊💼📅
What is Tax Audit? 🧾🔍 The term “audit” essentially refers to inspection or assessment and under various laws and regulations, different audits are required to be performed, such as company audits, cost audits, etc. Under Section 44AB of the Income-Tax Act, a taxpayer is required to undergo an audit of the business accounts on fulfilling […]
TDS Rate Chart For FY 2023-24 (AY 2024-25) with TDS Section List
Staying compliant with TDS regulations is crucial for businesses as non-deduction, wrong deduction and even deduction under wrong TDS section could attract huge penalties. It’s important that businesses know the applicable rate, TDS section and exempt limit for each nature of payment. Note: Here is the latest income tax slab for AY 2023-24 (FY 2022-23) […]
2-Factor Authentication For All Taxpayers With AATO Above Rs 20 Cr Is Mandatory From November 01, 2023
Two Factor Authentication for e-Way Bill & e-Invoice The National Informatics Centre (NIC) has announced that 2-factor authentication (2FA) will be made mandatory for all taxpayers with an Aggregate Annual Turnover (AATO) above Rs. 100 crore from July 15, 2023. This is being done to enhance the security of the e-Way Bill/e-Invoice System and to […]