The Reserve Bank of India (RBI) has taken a significant step for fairness and transparency in disclosing penal charges. Instead of ‘interest,’ penalties will now be considered a ‘charge’ and not compounded further. This change won’t affect regular compounding of interest on loans. Regulated entities (RE) won’t add additional interest to penal charges. Many REs …
The Indian Stock Exchange: A Hub of Financial TradingWhen it comes to the world of finance, the stock exchange plays a crucial role. Think of it as a bustling marketplace where traders and buyers meet to exchange financial instruments like stocks, bonds, and commodities.In India, the stock exchange follows a set of rules laid down …
Introduction:In the unpredictable sea of entrepreneurship, small businesses face unique challenges in staying afloat. Like a sailor navigating rough waters, managing cash flow is the compass that ensures steady progress and long-term success. While sales and profits are essential, the lifeblood of any business lies in the management of its cash flow. In this blog, …
If the aforementioned requirements are met, capital gains will be subject to tax. Meaning of Capital AssetCapital Asset is defined to include: However, the term ‘Capital asset’ shall exclude the following: – Stocks of consumables, raw materials, and other assets kept for trade, commerce, or vocation; Mobile property kept for the taxpayer’s own use or …
Tax deducted in foreign country? Here are few important points you should notice in advance. Table of Contents… Why is tax deducted in foreign country and what is foreign tax credit? Why Claim Foreign Tax Credit in India? How to Claim Foreign Tax Credit in India? Relief under Section 90 and 91 Challenges while filling …
The DPT 3 is a Return of Deposits that companies are required to submit in order to provide information on deposits and/or unpaid loan or other types of money other than deposits. According to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014, NIL ReturnThere is no requirement of filing Nil return. DPT-3 is …
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Micro, Small and Medium Enterprises (MSMEs) play a significant role in the Indian economy by generating employment and contributing to GDP growth. To promote the growth and development of these enterprises, the Government of India has introduced various schemes and initiatives, including MSME registration.MSME registration is the process of obtaining a certificate of registration from …
Annual Information Statement Annual Information Statement (AIS) is comprehensive view of information for a taxpayerdisplayed in Form 26AS. Taxpayer can provide feedback on information displayed in AIS. AIS showsboth reported value and modified value (i.e. value after considering taxpayer feedback) under eachsection (i.e.TDS, SFT, Other information). Objectives of Annual Information System Process To Access Annual …
1.What do you understand by EQL?Equalisation Levy is referred to as EQL (EQUALISATION LEVY). It would be assessed on digital services (mostly Advertising) offered in India by non-resident companies. 2. Why it is charged?In India, Non-Resident corporations would frequently avoid paying any type of tax. The government instituted EQL @ 6% on all non-resident entities …