Using A Simple Interest Calculator To Understand Basic Return Scenarios When planning investments, understanding how returns are calculated is often the first step. While markets and instruments vary widely, some investors begin by exploring basic interest concepts before moving to more complex approaches. In this context, a simple interest calculator may help you understand how …
Applicability Check Threshold & Entity for GST E‑Invoicing Mandate (AATO INR 5 Cr) Applicability – AATO INR 5 Cr Threshold: E‑invoicing is mandatory for businesses whose Aggregate Annual Turnover (AATO) exceeds INR5 crore in any financial year since FY 2017‑18, based on PAN level—this includes all GST registrations under that PAN. From 1 April 2025, any entity with …
New Labour Codes impact on costs & A/cs Dec 2025 onwards In this blog mention the accounting implications of India’s new labour codes, which came into effect in November. ICAI (Institute of Chartered Accountants of India) has issued guidance that companies must reflect these changes in their financial statements starting from the December Quarter of …
GST RETURNS FOR NIL/ZERO TURNOVER—AS PER CGST Act, 2017 Is a return mandatory if turnover is NIL under GST? YES – Filing of Return is Mandatory. Legal provision is given in Section 39(1) of the CGST Act, 2017. Every registered person shall, for each tax period, furnish a return, whether or not any supplies of …
Delaying Term Insurance Can Cost You: Premiums Rise 50% in 5 Years. Making the right financial decision at the right time is very much like catching the right train. Miss it, and the next option often costs more and arrives later. The same applies to term insurance. Many people delay buying a policy, telling themselves …
Which Foreign Assets are to be Declared in Schedule FA of ITR It explains the reporting requirements for resident & ordinarily resident taxpayers who hold foreign assets or income. This is general guidance. Reporting requirements may vary based on residential status and specific facts of the case. Professional advice is recommended before filing the return. …
What Happens After Grant of GST Registration –(Rule 10A – Furnishing of Bank Account Details) What happens after the grant of GST registration What happens after the grant of GST registration, focusing on compliance with Rule 10A regarding furnishing bank account details. It shows timelines, consequences of missing deadlines, and resolution paths. Grant of GST …
US Clarification on Tax Residency May Increase Tax Burden for Returning Indians (RNORs) The India–US Double Taxation Avoidance Agreement provides concessional tax rates on certain income streams, such as dividends, interest, and royalties, to individuals who qualify as tax residents of either India or the United States. Indians returning from the US often qualify as …
New Wage Codes – Impact & Immediate Actions Required India’s four Labour Codes—Code on Wages, 2019, Industrial Relations Code, 2020, Code on Social Security, 2020, and Occupational Safety, Health and Working Conditions Code, 2020—usher in unified definitions and streamlined compliance rules that reshape how organizations design compensation, compute statutory benefits, and run payroll. Effective from …
Common Reasons for GST Notices, Sending & Compliance GST notices are official communications issued by GST authorities for reasons such as non-filing of returns, discrepancies, ITC mismatches, or other compliance issues. They require timely responses to avoid penalties or adverse actions. GST is based on self-assessment and self-certification, requiring taxpayers to comply proactively. Notices under …