GST & Income Tax
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Tax Planning vs. Tax Saving- Know the Difference
Introduction Managing taxes efficiently is an essential part of financial planning. Many individuals confuse tax planning with tax saving, assuming they are the same. However, understanding the difference between the two is...
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A Complete Guide to Input Tax Credit (ITC) Under GST- Eligibility & Claim Process
Introduction Input Tax Credit (ITC) is one of the most significant advantages of the Goods and Services Tax (GST) regime in India. It allows businesses to offset the GST paid...
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What is Section 80C? Understanding Its Importance in Tax Planning
Section 80C of the Income Tax Act is one of the most popular sections among taxpayers in India. It provides an opportunity to reduce taxable income by making specific investments...
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How to E-Verify ITR Through Different Modes
Filing your Income Tax Return (ITR) is an essential task for all taxpayers. However, filing is just the first step. To complete the process, you must verify your ITR. Thankfully, the Income...
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Income Tax Filing for Freelancers
As a freelancer, you enjoy the flexibility of being your own boss, but with that freedom comes the responsibility of managing your finances—including income tax filing. Unlike salaried individuals, freelancers...
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TDS Compliance Simplified: Avoid Penalties
Introduction TDS compliance is more than just a legal obligation—it’s a foundation of responsible business practices. Non-compliance with TDS regulations can result in significant penalties, damaging your reputation and financial health. With...
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What is Tax Audit in Income Tax
A tax audit is a vital compliance measure under the Income Tax Act, 1961. It ensures the accuracy of financial records and verifies that taxpayers comply with the prescribed laws and regulations....
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How to Optimise Tax Returns for Your Business
Optimising tax returns is one of the best decisions a business owner can make. Although saving money is undoubtedly beneficial, it's equally important to make sure your company is set...
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The Ultimate Checklist for GST Compliance
Overview The Goods and Services Tax (GST), introduced in July 2017, revolutionized India's tax system by consolidating multiple indirect taxes into a single, unified framework. Its primary objectives are to...