India’s rapidly expanding digital economy has given rise to a new class of taxpayers — freelancers and content creators. These individuals earn income through brand sponsorships, advertising revenue, affiliate marketing, professional services, digital product sales, and non-cash compensation arrangements. For income-tax purposes, such receipts are generally assessed under “Profits and Gains from Business or Profession” …
Continue reading "Tax Treatment of Freelancers and Content Creators in India"
Tax saving deductions and exemptions under the new tax regime Under the new tax regime, only limited tax deductions are available for taxpayers. Hence, opting for the new tax regime is a good option if you have a minimum investment. However, the tax slab rates are concessional compared to the old tax regime. Deductions that …
Continue reading "Deductions available under New and Old Regime"
As you may be aware, the government has been introducing various measures to support and strengthen the MSME sector, recognizing its significant contribution to the economy. One such measure is the inclusion of Section 43B(h) in the Income Tax Act, which pertains to the non-deductibility of certain Expenses/Purchases if the corresponding payments are not made …
Continue reading "MSME and Section 43B (h) of Income Tax"
GST REGISTRATION @ Rs. 499 * We handle your messy legalities and documentation, so that you worry less and focus more on your dream business. Company Registration Trademark Registration ROC Filing Startup India Registration GST Registration MSME Registration Free Legal Agreements Get Quote Instantly in a Minute Benefits of Startup as a GST REGISTRATION Greater …
Continue reading "GST REGISTRATION"