Demystifying Double Taxation Avoidance Agreement (DTAA) in India

General, Income tax return filing in chennai, Income-tax, NRI tax filing / By

Double Taxation Avoidance Agreement (DTAA) in India In the complex world of international taxation, Double Taxation Avoidance Agreements (DTAAs) are a boon for individuals and businesses. These agreements are designed to prevent double taxation, ensuring that income is not taxed in both the home country and the foreign country. India, a hub for international trade …

Demystifying Double Taxation Avoidance Agreement (DTAA) in India Read More »

Points to Remember While Claiming Mediclaim Deduction under Section 80D

General / By

Points to Remember While Claiming Mediclaim Deduction under Section 80D When it comes to tax planning, it is essential to take advantage of the various deductions and exemptions provided by the government. One such deduction that can significantly reduce your tax liability is the Mediclaim deduction under Section 80D of the Income Tax Act. This …

Points to Remember While Claiming Mediclaim Deduction under Section 80D Read More »

Cost Inflation Index for F Y 2023-24 notified

Leave a Comment / Capital Gain consulting, Income tax return filing, Income tax return filing in chennai, Income-tax / By

The CBDT has notified vide its Notification No 39/2023 dtd 12.06.2023 that the Cost Inflation Index (CII) for the year 2023-24 be 348. What is Cost Inflation Index? The Cost Inflation Index (CII) is a crucial parameter used in the Indian tax system to adjust the purchase cost of assets and investments for inflation. It …

Cost Inflation Index for F Y 2023-24 notified Read More »

GST on Reverse Charge Mechanism (RCM) for Security Services

Understanding GST on Reverse Charge Mechanism (RCM) for Security Services as per Notification No 29/2018- Central Tax (Rate) dated 31-12-2018

Leave a Comment / General, GST, GST Consultants in Chennai, GST return filing / By

Understanding GST on Reverse Charge Mechanism (RCM) for Security Services The implementation of the Goods and Services Tax (GST) in India brought significant changes to the taxation system. One such change is the Reverse Charge Mechanism (RCM), which shifts the responsibility of tax payment from the supplier to the recipient. In this article, we will …

Understanding GST on Reverse Charge Mechanism (RCM) for Security Services as per Notification No 29/2018- Central Tax (Rate) dated 31-12-2018 Read More »

Project Report Preparation for Bank Finance

Leave a Comment / General / By

Project Report Preparation for Bank Finance In today’s competitive business environment, obtaining financial support from banks for projects is a common practice. However, banks require thorough evaluation and assessment of the project’s feasibility and profitability before approving loans. This is where a well-prepared project report plays a vital role. In this article, we will delve …

Project Report Preparation for Bank Finance Read More »

GST input tax credit

Unlocking the Secrets of GST Input Tax Credit: How to Optimize Your Claims and get maximum benefit in 2023.

Leave a Comment / GST, GST Consultants in Chennai, GST return filing / By

Understanding GST Input Tax Credit: How to Optimize Your Claims The Goods and Services Tax (GST) has revolutionized the Indian taxation system, bringing about a unified tax structure across the country. Under the GST regime, businesses can claim Input Tax Credit (ITC) to offset the taxes paid on inputs against the output tax liability. This …

Unlocking the Secrets of GST Input Tax Credit: How to Optimize Your Claims and get maximum benefit in 2023. Read More »

Advance tax 1st Instalment due

Advance Tax 1st Instalment Due on June 2023: Importance and Consequences

General, Income tax return filing in chennai, Income-tax / By

Advance Tax 1st Instalment Due on June 2023: Importance and Consequences Advance tax is a key aspect of income tax in India, requiring taxpayers to pay estimated tax liability in installments. The first instalment for the financial year 2023-24 is due in June 2023. Non-payment has significant repercussions. Let’s explore the importance of timely payment …

Advance Tax 1st Instalment Due on June 2023: Importance and Consequences Read More »

10 Crucial Guidelines for Accurate Tax Filing

Leave a Comment / General, Income tax return filing, Income tax return filing in chennai, Income-tax / By

10 Crucial Guidelines for Accurate Tax Filing Filing taxes can be an intimidating task, and even a small error can have significant repercussions. As an esteemed CA firm in India, we understand the importance of precise tax filing and its impact on financial matters. In this blog post, we will present you with ten essential …

10 Crucial Guidelines for Accurate Tax Filing Read More »

HRA Exemption: A Comprehensive Guide to Understanding and Maximizing Your HRA Benefits to 100%

General / By

HRA Exemption: A Comprehensive Guide to Understanding and Maximizing Your HRA Benefits Introduction When it comes to managing your finances, it’s essential to take advantage of all the tax-saving opportunities available. One such benefit is the House Rent Allowance (HRA) exemption, which can significantly reduce your taxable income if you are a salaried individual. In …

HRA Exemption: A Comprehensive Guide to Understanding and Maximizing Your HRA Benefits to 100% Read More »

How to make Income tax payment online for AY 2023-24 (FY 2022-23)

Leave a Comment / Chartered accountant in Chennai, Income tax return filing in chennai, Income-tax / By

Follow the below mentioned procedures to make Self Assessment Tax payment for FY 2022-23 (AY 2023-24) 1. Go to the Below Link –  https://www.incometax.gov.in/iec/foportal/ 2. Click e-Pay Tax 3. Provide Pan/Tan and Mobile Number 4. Enter the received OTP 5. Click Proceed under Income Tax 6. Provide your Pan/Tan and Name 7. Select 2023-24 under Assessment Year & Self Assessment …

How to make Income tax payment online for AY 2023-24 (FY 2022-23) Read More »

Filing of Appeals under GST – Complete information about the process – You can get relief from GST demand if filed correctly. – CGST Act,2017

Leave a Comment / GST / By

Filing of Appeals under GST The Goods and Services Tax (GST) is a comprehensive indirect tax law that was introduced in India in 2017. The GST law provides for a number of appeal mechanisms for taxpayers who are aggrieved by the decisions of the tax authorities. The authority passing the order may be GST officer, …

Filing of Appeals under GST – Complete information about the process – You can get relief from GST demand if filed correctly. – CGST Act,2017 Read More »

E Invoicing Limit reduced to 5 Crores w.e.f 01st Aug 2023

Leave a Comment / Chartered accountant in Chennai, GST, GST Consultants in Chennai, GST return filing / By

The CBIC has reduced the E invoice limit for business from the existing 10 Crores to 5 Crores. This is w.e.f. 01st Aug 2023. Accordingly, if the turnover of the business has exceeded more than 5 Crores in any of the Financial years starting 2017-18, E invoicing will be applicable w.e.f. 01st Aug 2023. The …

E Invoicing Limit reduced to 5 Crores w.e.f 01st Aug 2023 Read More »