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  • 17-May-2024

Top 10 Latest Updates on GST You Should Know in 2024

Goods and Services Tax (GST) is India's comprehensive indirect tax system, which was implemented in July 2017 to replace multiple taxes such as VAT, Excise Duty, and Service Tax. GST is levied on the supply of goods and services, with the tax rate varying depending on the type of goods and servi...

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  • 14-May-2024

What are Capital Gains Tax rules & regulations?

Investing in a house property is one of the most popular investments, primarily because you get to own a home. Others may invest with the intention of profiting from the property when they sell it. It is important to note that a residential property is considered a capital asset for income tax purpo...

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  • 24-Apr-2024

What are the Depreciation Rates & Rules of Income Tax Act

  According to the Income Tax Act, depreciation is the reduction in an asset's value brought on by use, deterioration, aging, or obsolescence. The Income Tax Act permits an entity's depreciation costs to be subtracted from its taxable income. Since depreciation is a non-cash expen...

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  • 11-Apr-2024

ROC Compliance Calendar for year 2024-25 related to FY 2023-24

What are ROC compliances? Depending on the context, ROC (Regulatory Compliance) can mean different things. For example, it can refer to "Report on Compliance" in the context of PCI DSS (Payment Card Industry Data Security Standard), or it can have a broader meaning that encompasses regu...

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  • 03-Apr-2024

Impact of the 45-Day MSME Payment Rule Starting April 1

The 45-day MSME (Micro, Small, and Medium Enterprises) payment rule, also known as the TReDS (Trade Receivables Discounting System) rule, is a regulation that mandates large companies to make payments to MSMEs within 45 days of the confirmation of goods or services. This rule is significant because ...

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  • 28-Mar-2024

What Are Indian Accounting Standards?

  Indian Accounting Standards Indian Accounting Standards (Ind AS) are a set of accounting standards notified by the Ministry of Corporate Affairs (MCA), Government of India, in accordance with the Companies Act, 2013. These standards are largely converged with the International Financial...

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