Tax Slab For Assessment Year 2019-20 and Finacial Year 2018-19 Individuals Less Than 60 Years Old INR 0 to INR 2,50,000 NIL INR 2,50,001 to INR 5,00,000 5% INR 5,00,001 to INR 10,00,000 20% INR 10,00,001 and Above 30% 60 to 80 Years Old INR 0 to INR 3,00,000 NIL INR 3,00,001 to INR 5,00,000 5% INR 5,00,001 to INR 10,00,000 20% INR 10,00,001 and Above 30% Above 80 Years old INR 0 to INR 5,00,000 NIL INR [...]

All About Angel Tax In a startup scenario, one of the major hurdles faced by the entrepreneurs are capitals issues, many startup models have longer breakeven periods, making their sustainability tougher when bootstrapped. This is why startups in today’s world take funding as the milestone of growth and scalability. But our Fiscal laws have very stringent rules for un-regularized capital flows, and they try to trap in all such transactions. The Income-tax Act 1956, under Income from Other [...]

All About GST E-Way Bill GST, a topic that has already grabbed the attention of the entire nation has off lately been once again in a discussion by passing another bill under its agreement; the E-way Bill. The traditional waybill has been in the picture for quite some time but the new E-waybill system is definitely a powerful system tool to curb tax evasion across the country. To put it in simple terms,” E-Waybill is an electronically generated bill [...]

How To Claim Your Income Tax Refund Income Tax Refund A lot of people oversees the fact that they pay heavy taxes on their income. This is because they don’t actually pay it on their own; rather their paymaster deducts the tax before crediting the income to the respective person account. Most of the times people pay more tax then they are liable to and never apply for refunds. Please note that the income tax deducted from your [...]

Cancellation of GST Registration Cancelation of GST Registration The Proper officer may cancel the registration in such manner and within such period as may be prescribed, either On his own motion Or an application filed by the registered person or by his legal hires (in case Of death of such applicant) Under the following circumstances, a registered person can fill for the cancelation of GST registration. Discontinuance of business Transfer of business on account of amalgamation, merger, [...]

GST for E Commerce Operators E Commerce: What Is E Commerce? E Commerce has been defined in Sec. 2(44) of the CGST Act, 2017 to mean the supply of goods or services or both, including digital products over digital or electronic network. Who Is E Commerce Operator? E Commerce Operator has been defined in Sec. 2(45) of the CGST Act, 2017 to mean any person who owns, operates or manages digital or electronic facility or platform for [...]