In today’s dynamic business landscape, entrepreneurs and investors are constantly seeking ways to maximize their potential and protect their interests. One avenue that offers a multitude of advantages is the registration of a private limited company. This legal entity structure provides a solid foundation for businesses operating in various sectors, including manufacturing, service, and trading …
In the complex world of finance and business, maintaining transparency, accuracy, and accountability in financial reporting is of paramount importance. To fulfill this critical role, chartered accountants play an indispensable part in the process of auditing. Auditing serves as a safeguard against financial mismanagement, fraudulent activities, and misrepresentation, and chartered accountants are the professionals entrusted …
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Introduction The Goods and Services Tax (GST) is a comprehensive indirect tax that replaced multiple cascading taxes levied by the central and state governments in India. This transformative tax system has brought about significant changes in the country’s economic landscape, particularly for the service and manufacturing industries. GST registration has emerged as a pivotal step …
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Introduction In recent years, the rise of freelancing has transformed the global job market. Freelancers, or independent professionals, provide a wide array of services across various industries, from writing and design to programming and consulting. As this trend continues to gain momentum, it’s essential for freelancers to understand the regulatory landscape they operate in. One …
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Introduction In 2017, India underwent a significant tax reform with the introduction of the Goods and Services Tax (GST). This comprehensive indirect tax structure replaced the intricate web of multiple taxes, such as excise duty, service tax, and value-added tax, streamlining the taxation system and fostering economic growth. One of the pivotal aspects of this …
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The Mumbai Income Tax Appellate Tribunal (ITAT) has ruled that the maintenance charges for Nostro Accounts are not liable to be treated as interest under Section 2(28A) of the Income Tax Act. Additionally, the ITAT determined that Section 195, which pertains to Tax Deducted at Source (TDS), is not applicable to these charges. The case …
