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Blogs by: steffy
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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 24, 2023 By Steffy A
Misconception About IEC Modification: Key FactsMisconception About IEC Modification: Myths Explained Introduction Importer Exporter Code (IEC) is an identification allotted by the Directorate General of Foreign Trade (DGFT) for import-export activities in India. Under the current Foreign Trade Policy, IEC is a 10-character alpha-numeric number […]
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May 24, 2023 By Steffy A
Section 80GGC Deduction for Political Donation in IndiaSection 80GGC Deduction: Eligibility, Limit and ITR Filing Introduction Section 80GGC deduction allows eligible taxpayers to claim a tax deduction on donations made to registered political parties or electoral trusts through non-cash modes. Until FY 2025-26, this benefit was governed […]
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May 19, 2023 By Steffy A
Amendments in ESI Return: Correction Process ExplainedAmendments in ESI Return: Process to Correct Filing Errors Overview Employers submit monthly ESI contribution details through the ESIC Employer Portal. These details generally include the employee’s Insurance Number, payable days, monthly wages, zero-wage reason and last working day, wherever […]
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May 18, 2023 By Steffy A
False Information in DIN Application: Legal ConsequencesFalse Information in DIN Application & Its Legal Consequences Introduction A Director Identification Number, commonly known as DIN, is a unique identification number allotted to an individual who intends to become a company director. A person seeking DIN before appointment […]
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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 16, 2023 By Steffy A
RERA and Income Tax Factors for Home Buyers in IndiaRERA and Income Tax Factors Every Home Buyer Should Know Introduction Buying a house involves both legal and tax considerations. Home buyers should understand RERA and Income Tax Factors before verifying a project, arranging finance, or making property payments. RERA […]
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