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When making payments to non-residents, individuals and businesses in India must comply with certain tax regulations. Two key forms required for reporting such payments are Form 15CA and 15CB. These forms help the government track foreign remittances and ensure proper tax deduction at source (TDS) under the Income Tax Act, 1961. This article will help you understand what Form 15CA and
Filing an Income Tax Return (ITR) is a crucial responsibility for every taxpayer in India. Whether you are a salaried individual, self-employed professional, business owner, or part of an organization, filing taxes ensures compliance with the Income Tax Department and helps you claim refunds, reduce tax liability through deductions, and avoid penalties. This article provides a step-by-step process on how to
The Indian government has made it mandatory for everybody to link Aadhaar card with PAN card. It helps in curbing tax fraud, ensuring transparency in financial transactions, and making it easier for individuals to file their income tax returns. If you haven’t linked your Aadhaar with PAN yet, you may face penalties, and your PAN may become inactive. In this article,
Choosing the right business structure is crucial for entrepreneurs. The two common options in India are Partnership Firm and Private Limited Company and they both offer unique advantages. The right choice depends on business goals, scalability, and regulatory preferences. This blog explores both structures, their features, benefits, and key differences to help you make an informed decision. What is a Partnership Firm?
Buying property in India comes with various financial and legal responsibilities, including Tax Deducted at Source (TDS). If you are purchasing a property worth ₹50 lakh or more, you must deduct 1% TDS on the transaction amount and deposit it with the government by filing Form 26QB. Failing to do so can result in penalties. This blog will help you understand
Filing GST returns is an essential compliance requirement for businesses registered under the Goods and Services Tax (GST) regime in India. Every registered taxpayer must file periodic returns to report their sales, purchases, input tax credit (ITC), and tax liabilities. Among the various GST returns, GSTR-1 and GSTR-3B are two of the most crucial filings. If you’re wondering how to file
