Before 2016, charitable and religious institutions registered under the Income-tax Act, 1961, enjoyed tax exemptions even when they underwent conversions, mergers, or dissolutions. These transitions […]
Understanding Core Banking Solutions: How CBS Transforms Modern Banking Operations
Core Banking Solutions (CBS) have transformed how financial institutions operate, manage customer data, and deliver services. Traditionally, banks relied on standalone systems operating in silos, […]
Rent-Free Accommodation under Section 17(2): Latest Valuation Rules and Their Impact
Housing remains one of the most significant benefits that employers extend to their employees. In urban India where real estate costs are high, being provided […]
Comprehensive Guide to Organisational Culture: Features, Functions, and Core Components
Organisational culture encompasses the collective values, beliefs, behaviours, and norms that define how work is performed within an organisation. It shapes the way members interact, […]
GST on GTA Services in India: Compliance Checklist and Exemption Overview
The Goods and Services Tax (GST) has significantly altered the landscape of indirect taxation in India. Among the sectors most affected is the transport industry, […]
Goods and Services Classification under GST: Rules, Rates, and Compliance Essentials
India’s transition to the Goods and Services Tax represented a significant reform in the field of indirect taxation. By subsuming excise duty, service tax, VAT, […]
GST Input Tax Credit Explained: Complete Guide to Claiming ITC under GST
The Goods and Services Tax was introduced in India as a transformative reform that aimed to simplify the indirect tax structure, integrate multiple levies, and […]
Understanding Interest Expense and Income: Accounting Treatment with Practical Cases
Interest is one of the most common financial elements recorded in business accounts, and its treatment plays an important role in presenting a true and […]
Capital Gains Tax Simplified: How to Compute and Claim Exemptions Legally
Capital gains arise when an individual or entity sells or transfers a capital asset for an amount higher than its original purchase cost. These gains […]
Drafting a Valid LLP Agreement: Provisions, Formats, and Filing under the LLP Act
A Limited Liability Partnership (LLP) is a flexible legal and business structure that combines the advantages of a traditional partnership with the benefits of limited […]
Methods of Accounting and Their Role in Business Income Computation
The process of determining taxable profits from business or profession is inseparably tied to the method of accounting adopted by the assessee. Accounting does not […]
Practical Guide to Form 10F: PAN Applicability, ROI Filing, Treaty Relief, and TDS Provisions
Form 10F is a statutory compliance requirement under Indian income tax law that specifically applies to non-residents claiming benefits under a Double Taxation Avoidance Agreement. […]
Section 80D Income Tax Deduction: Save Tax on Health Insurance Premiums Easily
Section 80D of the Income Tax Act offers deductions to taxpayers on premiums paid towards medical insurance policies, contributions to government-notified health schemes, and expenses […]
Effective Budgeting in Business Organizations: Types, Functions, and Control Explained
Budgeting in business organizations is not merely an exercise in recording numbers. It is a forward-looking activity that outlines financial targets, specifies resource allocation, and […]
Understanding the Business Environment: Key Features and Why It Matters
Businesses do not function in a vacuum. They operate within a broader ecosystem influenced by numerous interconnected external and internal factors. These elements range from […]