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With effect from Assessment Year 2019-20, a new deduction under Section 80PA of Income Tax Act 1961 has been permitted to encourage producer enterprises to market and process agricultural produce. In India's income tax regulations, under Chapter VI-A, under the heading 'C. – Deductions in respect of certain incomes,' there are…

Financial Elements to Understand for Startup Entrepreneurs are some steps that need to be followed in today’s world for setting up any business venture by young entrepreneurs.  It plays an important role in lifting the business to heights and for the growth of business in the modern world. Now, let…

The Government of India has established Income Tax laws governing the taxable income of all individuals who are individuals, HUFs, Companies, Firms, LLP, People's Organizations, and any other legal person. Everyone eligible to become a citizen of India is required to pay tax on the income taxable. Every financial year,…

The poultry business produces countless work opportunities in the nation and is vital for the public economy. The poultry business is to a great extent absolved by the provisions of the Central Goods and Services Tax Act, 2017. Nonetheless, there are sure issues that need detailed analysis and clarifications. In…

Introduction Plenty of us have considered donating to charity and helping the community at a certain stage in life. It is admirable to contribute to a cause that sincerely believes in and create change. Given the noble nature of this act of kindness, the government fully supports charitable services. Donations…

  Table of Contents Introduction Goals of Income Tax Search and Seizure Income Tax Raids Authority to conduct search and Seizure Power Rights of Individual During Search and Seizure Conclusion Introduction One of the most important powers of the Income Tax Department is the ability to conduct a search in…

Indian taxes are classified into two types: direct taxes and indirect taxes. When it comes to direct taxes, they are imposed on the revenue derived by various corporate organisations over the course of a fiscal year. There are various types of taxpayers who are enrolled with the Income Tax Department…

A One Person Company (OPC) is a one-person company that is formed under the Companies Act of 2013 and is fully managed and controlled by a single person. Because OPC falls under the definition of "Company" as defined by the Companies Act, 2013, it is required for OPC to appoint…

Dividend income, payment, and reporting have undergone significant changes in the previous and current fiscal years, with recipients facing increased taxation and reporting requirements. Most people now prefer to invest in stocks and securities, and as a result, many people receive dividend income. Furthermore, because many companies pay dividends, disclosing…

When a company receives foreign investment, the Reserve Bank of India (RBI) issues Form FC-GPR. As a result of such investment, the business could issue shares to a foreign investor. Furthermore, the company is required to file specifics of such share allotment using Form FC-GPR. Table of Contents The objective…