Key TDS Provisions and Thresholds – Section 194-IA, 195, and Exemptions To summarize the TDS obligations on property sales, here are the key provisions and thresholds under the Income Tax Act: Section 194-IA – TDS on Purchase of Property from a Resident This section applies when buying immovable...
Tax Treatment by Property Type – Residential vs Commercial vs Agricultural Land The tax on property sales can also differ based on the type of property being sold – mainly regarding available exemptions and whether the asset is even taxable. Here’s a breakdown for residential property,...
Non-Resident (NRI) Sellers – TDS and Capital Gains Implications If the property seller is an NRI (Non-Resident Indian), the tax law requires a higher TDS to ensure capital gains tax is collected from the sale. The process works as follows: TDS on Sale (Section 195): When...
Avoiding GST Notices in 2025: Common Mistakes and Red Flags Introduction: In 2025, India’s Goods and Services Tax (GST) compliance regime has become smarter and more stringent than ever. The Central Board of Indirect Taxes and Customs (CBIC) is now using advanced data analytics and AI-driven tools...
Title: Avoiding Penalties: Simple GST Reconciliation Tips for Small Businesses Hey there, business owners! Keeping up with GST rules can feel overwhelming, especially with recent changes. But don’t worry—we’ve broken down the latest updates, e-invoicing, HSN codes, and practical reconciliation tips to help you avoid penalties....
Why your Startup should be an LLP In recent years, there has been a noticeable increase in the number of entrepreneurs opting for Limited Liability Partnerships (LLPs) despite it being a fairly new development in the field of business. There are numerous reasons that are responsible...
Finance Tips for First-Time Entrepreneurs Being an entrepreneur is difficult enough as it is — innovating with new ideas, turning concepts into products, managing teams of talented people — even without the questions of finance management. Poor financial literacy has been an Achilles’ Heel for an...
TAX SAVING TIPS FOR WOMEN A woman need not club her income with her husband’s income and can be an independent tax payer. There are various provisions under the Income Tax Act, 1961, for exemptions, deductions and rebates which can help reduce the amount paid as...
8 Simple Ways To Save Money Sometimes the toughest issue regarding saving money is simply getting started. It may be tough to work out easy ways that to save lots of money and the way to use your savings to pursue your monetary goals. This bit-by-bit...
Finance and Risk Management In general, finance and risk management are two of the most crucial aspects in managing and operating a company. In the current business climate, management are often applied together with other management tools such as control systems, metrics, and information systems. The...