Can IT Freelancers/Professionals opt for Presumptive scheme of Income tax?

Presumptive scheme under Income tax is a popular scheme used by Businesses & Professionals. This scheme essentially reduces the burden of Income tax compliance on Micro & Small businesses & Professionals. Presumptive scheme for specified professionals was introduced in 2016. Presumptive scheme allows the taxpayer to presume their income as...

GST compliance every e-commerce seller must know

Undeniably, online business or selling through e-marketplace has become not only the most popular channel of conducting business but also this channel of selling or conducting business has become inevitable for any business if it has to survive & grow in the future. It gives a business an infinite...

Turnover certificate for various purposes

A turnover certificate is a detailed factual statement which certifies the turnover of an entity on basis the requirements. This certificate assures the users about the turnover generated by the business entity during a given period of time. Contents of a Turnover certificate The contents of this certificate will depend upon...

Converting proprietorship business to a private limited company

You start a business as a proprietorship. After sometime, the business starts growing, which brings the need to change the constitution of the business from proprietorship to a company due to various factors such as: Need of capital for further expansion of business, saving in income tax through reduced...

How to save tax efficiently for salaried Individuals

Who doesn’t want to pay less tax? So, in this article we are discussing about how a salaried Individual can save tax through tax planning. Salaried Individuals have comparatively limited options available when it comes to saving tax. Nevertheless, if we utilize what we have efficiently, a significant amount...

Legal requirements for selling goods or services through social media platforms like Instagram, Facebook, YouTube etc.

We all have presence in social media. It keeps us connected and makes us approachable. One of the most important & emerging area in Social media would certainly be selling goods or services through Social media networks like Facebook, Instagram, LinkedIn, YouTube etc. While most of us are aware of...

Management & compliance requirements to be met by an Ecommerce business

You have an Ecommerce business. Whether you own an e-commerce portal or you are a seller on portals like Amazon, Flipkart etc. In order to start selling and to meet the compliance requirements, one need to take care of various compliances like GST Return Filing, ITR filing, trademarks, TCS and...

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