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Income Tax Knowledge
IT Dept Admits Sending Wrong ITR Notices | Tax Alert
Income Tax Dept acknowledges errors in ITR notices sent to taxpayers. Stay informed and learn how to respond if affected.
What Happens If You Don’t File ITR | Know The Risks
What Happens If You Don’t File ITR: Missed filing ITR? Learn about penalties, notices, and consequences. Stay compliant and avoid future tax problems.
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IT Dept Admits Sending Wrong ITR Notices | Tax Alert
Income Tax Dept acknowledges errors in ITR notices sent to taxpayers. Stay informed and learn how to respond if affected.
How to Read Balance Sheet | A Beginner’s Guide
Understand how to read balance sheet effectively. Analyze assets, liabilities, and equity to assess the financial position of any business.
How to Prepare Balance Sheet | Easy Steps
Find out how to prepare balance sheet effectively. Record assets, liabilities, and equity accurately for a clear picture of financial health.
GST Number Format: Complete Guide to GSTIN Structure in India with Examples
Understanding the GST number format is essential for anyone involved in business, accounting, or compliance in India. The GST number, known as the...
GST Number Format: Complete Guide to GSTIN Structure in India with Examples
Understanding the GST number format is essential for anyone involved in business, accounting, or compliance in India. The GST number, known as the...
How to Get GST Number Online in India: Complete Guide to GST Registration (2025)
If you're wondering how to get GST number for your business in India — whether you're a freelancer, shop owner, or startup founder — this...
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The Goods and Services Tax is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income.
Fintech, compound of “financial technology”, refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Fintech companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies.
The Ministry of Corporate Affairs is an Indian government ministry primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008, and the Insolvency and Bankruptcy Code, 2016.
MSME: Manufacturing Enterprises and Enterprises rendering Services.
Micro: Investment in Plant and Machinery or Equipment: Not more than Rs.1 crore and Annual Turnover; not more than Rs. 5 crore.
Small: Investment in Plant and Machinery or Equipment: Not more than Rs.10 crore and Annual Turnover; not more than Rs. 50 crore.
Medium: Investment in Plant and Machinery or Equipment: Not more than Rs.50 crore and Annual Turnover; not more than Rs. 250 crore.
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