Taxpayers, here’s some great news! The Income Tax Department has introduced a significant update that makes claiming the Section 87A rebate easier and more inclusive. The rebate, which was previously not allowed for incomes like short-term capital gains (STCG) taxed at 15%, is now available under certain conditions. Let’s break it down for you: What …
Advance tax is a key part of tax compliance for individuals and businesses whose total tax liability exceeds ₹10,000 in a financial year. It allows you to pay your taxes in installments instead of a lump sum during the filing of your income tax returns. If you’re planning to calculate and pay your advance tax …
As a business owner or accountant, managing GST entries accurately is crucial for compliance. In this guide, we will explain how to make GST entries in Tally and ensure your Cash Ledger and ITC Ledger are always synchronized with the GSTIN Cash Ledger and GSTIN ITC Ledger. By following these steps, you can easily reconcile …
Are you aspiring to become a Tax and Accounts expert? Our comprehensive guide outlines the critical topics and skills you need to master to excel in the fields of taxation, accounting, and compliance. Whether you’re just starting or looking to advance your career, this roadmap will ensure you’re on the right path. Essential Topics to …