The Income Tax Act, 1961 introduces various provisions regarding tax deduction and collection at source. Among these, sections 194Q and 206C(1H) have gaine ...
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Depreciation Under the Companies Act, 2013 vs Depreciation Under the Income Tax Act,1961
Depreciation is a crucial accounting concept that reflects the reduction in value of a fixed asset over time due to usage, wear and tear, or obsolescence. ...
Exemptions and Benefits for Small Companies Under the Companies Act, 2013
The Companies Act, 2013, provides several exemptions and benefits to small companies in India, recognizing their unique needs and limited resources. Below ...
Everything You Need to Know About Company Setup in India | Groom Tax
India is one of the fastest-growing economies in the world, making it a prime destination for entrepreneurs and businesses. Whether you are looking to star ...
10 Tips for Successful Company Registration in India | Groom Tax
Starting a business in India can be a rewarding venture, but it requires careful planning and adherence to legal procedures. One of the first steps is comp ...
Provision for Tax Deducted at Source (TDS) and Tax Collected at Source (TCS)
Tabular Summary based on the Key Provisions: AspectTDS (Tax Deducted at Source)TCS (Tax Collected at Source)Relevant SectionsChapter XVII-B, e.g., Secti ...
Section 80JJAA: Deduction to businesses for employing new employees
Eligibility: Applicable to Assessees: Indian companies or individuals, HUFs, partnerships, or other entities engaged in business. Assessee must hav ...
Income Tax Provisions on Sale of Listed Equity Shares
Income Tax Provisions on Sale of Listed Equity Shares: Short-Term Capital Gains (STCG): Applicable if shares are held for 12 months or less. Tax Rate ...
Section 79-Carry forward and set-off of losses in Income Tax
Section 79 of the Income Tax Act pertains to the carry forward and set-off of losses in case of certain companies, primarily addressing restrictions on car ...
Foreign Direct Investment in India
Introduction A Foreign Direct Investment (FDI) is an investment in one country in the form of control of an entity in another country. For this reason, it d ...