Introduction to GSTR-1A GSTR-1A was once introduced as a way for taxpayers (suppliers) to correct mistakes in the sales (outward supply) data they reported in their GSTR-1 returns. GSTR-1A would give suppliers a chance to accept or reject changes suggested by their buyers based on the inward supply details the […]
Continue readingCompany Compliance Calendar
Compliance Calendar – October 2024 Compliance Calendar – October 2024 07th Oct TDS Payment for Sep 2024 11th Oct GSTR 1 (Monthly) for Sep 2024 13th Oct GSTR-1 (Jul-Sep 2024) for QRMP 14th Oct ADT-1 filing (Appointment of an Auditor for Companies) 15th Oct TCS Return in Form 27EQ for Jul-Sep 2024 15th Oct Provident Fund […]
Continue readingSuyog Telematics Ltd (STL): Company Stock Analysis
Suyog Telematics Ltd is an Indian company engaged in providing infrastructure services to the telecommunications sector. Founded in 1995, the company specializes in the installation, operation, and maintenance of wireless communication towers, particularly for mobile networks. Its core business revolves around offering telecom operators and other wireless service providers a […]
Continue readingTDS Rate Changes Effective from October 1, 2024
As part of the Finance Bill 2024, several significant changes to the Tax Deducted at Source (TDS) framework have been introduced, and they took effect on October 1, 2024. These changes aim to simplify compliance, ease the tax burden on individuals and businesses, and enhance transparency in various financial transactions. […]
Continue readingHow to Accept or Reject a Tax Audit Report on the Income Tax e-Filing Portal: Step-by-Step Guide
Managing your tax responsibilities can often seem overwhelming, especially when it involves a tax audit report. But thanks to the Income Tax e-Filing Portal, the process of accepting or rejecting a tax audit report has become more streamlined and accessible. Whether you’re accepting an auditor’s report or returning it with […]
Continue readingReview of MotoShare: Exploring the Business Model, App Features, and Services
1. Introduction MotoShare is a peer-to-peer vehicle rental platform that connects vehicle owners with customers looking to rent bikes, cars, and motorbikes across India. The app and website, MotoShare.in, provide a marketplace where vehicle owners can list their vehicles for rent without any service charges. Customers can directly book these […]
Continue readingHDFC Bank Credit Card
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Continue readingDifference between NRI Bank Account and NRO Bank Account
Here is a comparison of NRI (Non-Resident Indian) and NRO (Non-Resident Ordinary) bank accounts in India in a tabular format: Parameter NRI Bank Account (NRE – Non-Resident External) NRO Bank Account (Non-Resident Ordinary) Purpose To park overseas earnings in India in Indian Rupees (INR). To manage income earned in India […]
Continue readingCoffee Day Enterprises: Company Stock Analysis
Here’s the consolidated data of Cafe Coffee Day (CCD) for the last 10 years, including the number of outlets, operational vending machines, Value Express kiosks, and the number of cities where they were present: Year Cafe Outlets Operational Vending Machines Value Express Kiosks Cities 2014 1,700+ 30,000+ 300+ 200+ 2016 […]
Continue readingTax-Efficient Remuneration Strategies for Directors in India: A Comprehensive Guide
Below is the table that outlines various remuneration methods for directors, their maximum limit (where applicable), and whether tax is applied or not. Remuneration Type Maximum Limit Tax Applied Business-Related Reimbursements Actual expenses incurred No Medical Reimbursements ₹15,000 per year No Dividend Income ₹10 lakh per year (tax-free) Yes, beyond […]
Continue readingList of options transferring money internationally from Japan
1. Revolut Japan 2. N26 (in collaboration with TransferWise) 3. Kantan Pay 4. WorldRemit 5. KoraPay 6. TransferGo 7. PaySend 8. PayPal 9. Skrill 10. Western Union 11. PayPay Bank (formerly Japan Net Bank) 12. Remitly
Continue readingHow to change Mobile number at Wise.com?
Here’s what you can do to change your phone number on your Wise account: Please follow these steps to update your phone number successfully. If you continue experiencing issues, there might be specifics we need to address on a case-by-case basis. You can also give us a call if you […]
Continue readingWhat is best way to transfer money from Japan to India
Transferring money from Japan to India can be done through several methods, each with its pros and cons. The best method depends on factors like transfer speed, fees, exchange rates, and convenience. Here are some of the most popular options: 1. Online Money Transfer Services 2. Bank Transfer 3. Western […]
Continue readingLetter of Undertaking (LUT) is not Filed for previous year
Scenario Overview: Imagine you’re a business owner who has successfully exported services and received payment within the stipulated timeframe. However, you suddenly realize that you didn’t file a Letter of Undertaking (LUT) for the financial year (FY) 2019-20. While you’re applying for an LUT for FY 2020-21, this oversight comes […]
Continue readingDemand paid and challan has CIN with/without open challan details
The terms “Demand paid and challan has CIN (without open challan details)” and “Demand paid and Challan has CIN (with open challan details)” refer to the status of the payment of a tax demand and how it is reflected in the Income Tax Department’s records. Here’s what they mean: 1. […]
Continue readingFiled the ITR and PAID the tax online on incometax but still getting demand notic
Understanding the Issue: It seems that when you filed your Income Tax Return (ITR) and paid the tax, you did not enter the details of your Self Assessment Tax payment in the relevant section of the ITR form. This means that although you paid the tax, the system didn’t account […]
Continue readingUnderstanding LUT and Bond under GST: A Detailed Guide
Exporting goods and services from India requires careful navigation of the GST framework, particularly when it comes to managing taxes like Integrated GST (IGST). To facilitate exports and reduce the financial burden on exporters, the GST law provides two primary options: the Letter of Undertaking (LUT) and a Bond. Both […]
Continue readingUnderstanding Legal Compliances for LUT under GST: A Comprehensive Guide
Exporting goods and services is a vital component of global trade, and for businesses in India, the Goods and Services Tax (GST) regime has introduced several mechanisms to facilitate smoother export operations. One such mechanism is the Letter of Undertaking (LUT), a document that allows exporters to ship goods and […]
Continue readingUnderstanding the Letter of Undertaking (LUT) in GST: A Comprehensive Guide
In the complex world of international trade, managing taxes efficiently is crucial for exporters. The Indian Goods and Services Tax (GST) regime offers a mechanism that significantly eases the financial burden on exporters: the Letter of Undertaking (LUT). By leveraging the LUT, exporters can ensure a seamless export process without […]
Continue readingJapan Post Debit and Cash Card is not working
The image you provided is a warning about keeping your card away from objects that emit magnetism, which can render the card unusable. Here’s a breakdown of the key points: The general advice is to keep your card away from all these types of devices or items to avoid any […]
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