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Blogs by: steffy
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July 6, 2023 By Steffy A
Non Profit Tax Exemption: India & USA Registration GuideNon Profit Tax Exemption in India and USA: Explained Introduction Non Profit Tax Exemption allows eligible organizations to reduce their tax liability on income used for approved charitable, educational, religious, scientific, or social welfare activities. Non-profit organizations are established with […]
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June 21, 2023 By Steffy A
Difference between Section 194Q and Section 206C(1h) of Income Tax ActDifferences between Section 194Q and Section 206C(1H) Introduction If you’re running a business that deals in buying or selling goods, chances are you’ve already heard about differences between Section 194Q and Section 206C(1H). And honestly, most businesses get confused here […]
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June 21, 2023 By Steffy A
Single Member vs Multi Member LLC: Key DifferencesSingle Member vs Multi Member LLC: Key Differences Explained Introduction Understanding Single Member vs Multi Member LLC is important before forming an LLC because the ownership structure affects decision-making authority, management responsibilities, profit allocation, and tax treatment. A Single Member […]
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June 19, 2023 By Steffy A
Section 43B(h) for MSME Payments: Tax Rules & ImpactSection 43B(h) for MSME Payments: Compliance and Tax Impact Introduction Section 43B(h) provides that payments due to Micro and Small Enterprises for goods supplied or services rendered are allowed as deductions only when paid within the timelines prescribed under the […]
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June 6, 2023 By Steffy A
All About GST simplification using LUT for exportersGST Simplification Using LUT for Exporters: Explained Introduction Exporters operating under the Goods and Services Tax (GST) regime often deal with various compliance requirements, including tax payments, return filing, documentation, and record maintenance. Although exports are treated as zero-rated supplies […]
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June 3, 2023 By Steffy A
Section 194P of Income Tax Act: Senior Citizen GuideSection 194P of Income Tax Act: A Guide for Senior Citizens Introduction The Section 194P of Income Tax Act was introduced through the Finance Act, 2021 with the objective of simplifying tax compliance for senior citizens. Many elderly taxpayers depend […]
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May 18, 2023 By Steffy A
Benefits of GST LUT for filing GST returnsBenefits of GST LUT for Exporters: Complete Guide Introduction Understanding the benefits of GST LUT for Exporters is essential for businesses involved in international trade. A GST LUT allows eligible exporters to export goods or services without payment of IGST, […]
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May 17, 2023 By Steffy A
GST LUT on Invoicing and Accounting: Guide for ExportersGST LUT on Invoicing and Accounting: Impact on Export Businesses Introduction Understanding GST LUT on invoicing and accounting is essential for exporters who want to manage GST compliance efficiently while maintaining healthy cash flow. A Letter of Undertaking (LUT) allows […]
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May 15, 2023 By Steffy A
GST LUT vs IGST Refund for Exporters: A Detailed GuideGST LUT vs IGST Refund: Which Option is Better for Exporters? Introduction Understanding GST LUT vs IGST Refund is important because the choice directly affects cash flow, compliance, and refund procedures. When exporting goods or services from India, businesses have […]
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