GST

my views on where some changes in gst would make the system more taxpayer oriented

Introduction Welcome to our discussion on optimizing the Goods and Services Tax (GST) system to be more taxpayer-friendly! The GST, often hailed as a transformative fiscal reform, was designed to simplify the tax landscape, unify the market, and enhance efficiency through a single tax on the supply of goods and services. Despite its goals, certain […]

Income Tax

Demystifying Income Tax Act’s Section 43B(h): How Deductions for Payments to MSEs Work [FAQs]

Welcome to a deep dive into Section 43B(h) of the Income-tax Act, where we unravel the complexities surrounding deductions for payments to Micro and Small Enterprises (MSEs). Did you know that MSEs play a crucial role in the Indian economy,

Other

Startup India Explained: Eligibility, Tax Exemptions, and Incentives

A Startup India initiative taken up by the Indian government is what is normally referred to as a policy by the national government in support of small business enterprises and is owned by the Indian PM Mr. Narendra Modi with the main aim of expanding the country's economy.

Income Tax

Facing an Income Tax Notice? Here’s What You Need to Know and How to Respond

In recent times, the Income Tax Department has significantly ramped up its issuance of notices to taxpayers across India. These notices are being sent out for a multitude of reasons, ranging from discrepancies in income disclosure to cases of tax evasion spanning previous years.