Understanding Conveyance Allowance: Benefits, Tax Exemption, and FAQs
Conveyance allowance is a benefit that employers offer to their employees to cover their transportation expenses while commuting to work. The allowance is usually...
Exploring Subvention Income: Benefits, Drawbacks, and Mitigating Risks.
Subvention income is a term used to describe a type of revenue that is generated through subsidies or grants. It refers to the funds...
How to Generate Form 38 for Interstate Sales in India
If you are a business owner engaged in the supply of goods across different states in India, you must be aware of the importance...
Understanding Composite Supply: Definition, Examples, and Implications
In the world of business, transactions often involve multiple goods or services that are sold together as a package. This is known as a...
How to Calculate Input Tax Credit: A Guide
Input tax credit (ITC) is a mechanism that allows businesses to offset the taxes they pay on inputs against the tax they collect on...
Understanding Section 115E of the Income Tax Act and Ways to Encourage Foreign Investment...
Section 115E of the Income Tax Act: An Overview
The Indian Income Tax Act has various provisions that govern the taxation of income earned by...
Understanding the Significance of Section 10(21) of the Income Tax Act for Approved Scientific...
Section 10(21) of the Income Tax Act: Exemption for Income of Approved Scientific Research Associations
In India, the Income Tax Act provides various exemptions to...
Understanding Section 89(1) of Income Tax Act, 1961: Additional Information and Exceptions
Section 89(1) of the Income Tax Act, 1961:
Understanding Relief for Arrears or Advance Salary
As per the Income Tax Act, an individual is required to...
Understanding Section 179 of the Income Tax Act: A Guide for Small Business Owners”
Understanding Section 179 of the Income Tax Act
As a business owner, understanding the tax laws that affect your company is critical. One of the...
Section 194N of Income Tax Act: Benefits, Challenges, and Impact on Individuals and Businesses
Section 194N of Income Tax Act: Everything You Need to Know
The Indian government has introduced several tax reforms over the years to curb the...