One stop for everything related to taxes,
Our Blogs

Compliance used to sit behind the product. Users earned income, invested money, downloaded reports, and later handled tax filing, documentation, TDS reconciliation, or ITR form selection somewhere else. That separation is becoming harder to maintain. Employees now expect payroll platforms to help them understand Form 16 and TDS. Investors expect wealth platforms to explain capital gains reporting. Gig workers expect income platforms to help them build formal financial records

To improve international accessibility and openness for Indian businesses, a set of financial reporting guidelines known as Indian Accounting Standards have been harmonised with International Financial Reporting Standards (IFRS). Integrating local reporting procedures with international standards has become crucial as Indian enterprises grow internationally. Businesses in India increase the accuracy of their financial accounts and enable well-informed decision-making by imple

Regaining ownership of the company's shares through the purchase of previously issued shares is a crucial component of any organization's financial plan. Companies used to evade taxes in the past because share buybacks were tax-free. Section 115QA, which placed a tax on share buybacks, was later added to the tax code. Everything you need to know regarding taxes on the repurchase of listed shares is covered in this article. Table of Contents: What is a Buyback of Shares? Proce

Depreciation is a reduction in the value of assets because of regular usage. It is recorded in the books of accounts as an expense and is reduced from the book value of assets. But what if you can’t use the full extent of depreciation in the year of its occurrence? That's where the concept of unabsorbed depreciation comes into play. When organizations experience a downturn and don’t generate enough taxable income to match the depreciation expense for that year, the leftover

The government is very worried about tax evasion, and one of the many strategies used to monitor citizen incomes is keeping a book of accounts. It is clear that those with higher incomes are subject to a larger tax slab. According to Section 44AA of the Income Tax, taxpayers in high-income enterprises or professions are required to keep the books of their accounts, and Section 44AB mandates that a chartered accountant conduct an additional audit of the books. As evidence of t

As a business owner, you must monitor several additional things besides your financial transactions to ensure smooth operations. Auditing is the process of maintaining everything under control. Your company must regularly conduct audits to ensure the correctness of your business records. To guarantee efficient accounting procedures, we will provide you with a thorough overview of audits and their varieties in this post. Table of Contents: EPF Full Form: What is the Employee P

According to Section 138 of the Negotiable Instruments Act, 1881 ("Act"), bouncing a cheque is a crime that carries a maximum two-year jail sentence, a fine up to double the value of the cheque, or both. To prevent this kind of situation, it is crucial for small and medium-sized enterprises to be aware of their rights and obligations if a cheque bounces and to practise financial discipline. We shall discuss the reasons for cheque bounces as well as their effects and ramificat

Accrual and receipt are the two criteria that determine whether income is taxable. Money is subject to taxation in any nation based on these two criteria: either the money must be earned or received in that nation. Income that foreign entities or non-residents earn in India or are presumed to be generating in India is specifically listed in Section 9 of the Income Tax Act 1961 as income that should be assumed to accrue or generate in India. The sections list the types of reve

A Hindu Undivided Family (HUF) is recognised as a separate taxable entity under the Income Tax Act, 1961. This allows an HUF to run businesses, earn income, and file tax returns independently from its members. When a business operates in the name of an HUF, the profits are taxed under the head “Profits and Gains of Business or Profession” using the HUF’s own tax slabs and regime choice. This structure can create legitimate tax planning opportunities because the HUF’s income

Google Pay (GPay) is acclaimed for the smooth transactions it facilitates as digital payments continue to gain pace in India. For people...