India has emerged as one of the fastest-growing economies in the world, with a strong focus on entrepreneurship and innovation. The government has taken several steps to promote the ease of doing business in India, which has led to a surge in the number of companies being incorporated in the country. If you are planning …
Taxation is an essential part of any business or individual’s financial planning. The tax laws and regulations in India are complex, and it requires specialized knowledge and expertise to navigate them. This is where tax consultants come in. They are professionals who specialize in providing tax-related advice to businesses and individuals. In this article, we …
The ITR filing session for the financial year 2022-23 (Assessment Year 2023-24) has officially begun. Taxpayers across the country are gearing up to file their income tax returns before the deadline. To make the process smoother for you, we are here to discuss the details of the ITR 1 form. ITR-1, also known as Sahaj, …
Books of accounts refer to the systematic and comprehensive record-keeping of financial transactions of a business. They are a critical part of maintaining accurate financial records and complying with tax laws and regulations. Essentially, they serve as a company’s financial diary, documenting every financial transaction that the business engages in. The term “books of accounts” …
Presumptive taxation is a tax system that uses indirect means to determine an individual’s tax liability instead of traditional rules based on their financial records. This method assumes that an individual’s income is at least equal to the amount resulting from applying the indirect method, hence the term “presumptive.” By implementing presumptive taxation, taxpayers can …
