Legal Suvidha

Individuals or businesses that sell goods or services on online platforms such as Amazon, Flipkart, eBay, etc. are commonly referred to as e-commerce sellers. These can include manufacturers, wholesalers, merchants, or even private individuals who wish to sell their products or services online. In India, e-commerce sellers are required to comply with the rules and […]

Discussions have been ongoing regarding the suitable tax rate for online gaming. With the increasing number of individuals engaging in online games for monetary purposes, the growth of the gaming industry has sparked debates on the taxation and associated ITR Filing.It’s interesting to note that the industry has been looking for and debating the need

The Reserve Bank of India (RBI) has updated the rules that lenders must abide by when applying loan penalties. When a borrower delays a payment or violates the terms of the loan, many lenders now impose additional interest, known as penal interest. The RBI has proposed that fines be assessed as a fixed fee instead

The Indian taxation system follows a progressive approach where the tax payable increases as income rises, with Income Tax slabs introduced to facilitate this approach. The applicability of these slabs depends on factors like the taxpayer’s residential status, income level, category, and age. Income Tax Rates in India are reviewed annually after the budget announcement,

In the Financial Year 2022–23 (Assessment Year 2023–24), several significant changes made by the Finance Act of 2023 will be highlighted in this article. When submitting the Income Tax Return (ITR) for Assessment Year 2023–24, certain adjustments must be taken into consideration. The Agnipath plan’s Section 80CCH deduction, which is applicable to people who are

Introduction In this article, we will discuss Section 16 of the CGST Act 2017, which deals with the eligibility and conditions for taking Input Tax Credit (ITC). As a registered taxpayer, it is important to understand the provisions of Section 16 to ensure that you are able to claim the ITC to which you are

Filing income tax return (ITR) can be a difficult task, especially for freelancers and self-employed professionals. However, it is essential to file your tax returns accurately and on time to avoid any penalties or legal issues. In this comprehensive guide, we will provide you with step-by-step instructions on how to file your income tax returns

 Digitization Revolution in Indian Taxation: A Comprehensive Overview The digitization of the Indian taxation system has been one of the most significant developments in the country’s financial sector in recent years. The government has taken several initiatives to simplify the taxation process and make it more transparent and efficient. In this article, we will provide

With the rise in foreign investments, whether through Foreign Direct Investment (FDI) or Overseas Direct Investment (ODI), it has become crucial for businesses to comply with the regulations outlined in the Foreign Exchange Management Act, 1999 (FEMA 1999). One such compliance requirement is the filing of the FLA Return. This return must be submitted by

The Indian government has introduced an amnesty scheme for small businesses, non-filers of final returns, and taxpayers who have had their Goods and Services Tax (GST) registration cancelled. The Central Board of Indirect Taxes & Customs (CBIC) has issued a notification stating that those affected can apply for the revocation of their cancelled registration by

The Indian government has released various notifications regarding Amnesty & Compensation Cess in accordance with the proposals of the 49th GST Council Meeting. Notification No. 03/2023 – Central Tax dated 31.03.2023 is one of these notifications, which offers an amnesty scheme for registered individuals whose registrations were cancelled on or before 31.12.2022 due to non-filing

Section 80GG in the Income Tax Law provides deductions for rental expenses based on certain criteria. These criteria include being an individual or a Hindu Undivided Family (HUF), being self-employed or salaried, and other conditions. One of the key deductions available is for rent paid on a house, which is covered under this section. This