When applying for a bank loan or financial assistance, lenders do not only assess a borrower’s past performance but also place strong emphasis on projected financials. Projected financial statements present a future-oriented view of the business, helping lenders evaluate repayment capacity, profitability, and overall financial viability of the proposed loan. What Are Projected Financials? Projected… Continue reading What Are Projected Financials? Essential Guide for Loan Applications
Tax Deducted at Source (TDS) is a mechanism through which the government collects tax at the time income is generated rather than at the time of filing returns. One important provision related to TDS Returns Filing real estate transactions is Section 194-IA of the Income Tax Act, 1961, which deals with TDS on the purchase… Continue reading TDS on Purchase of Property Under Section 194-IA: Complete Guide 2025
Tax Deducted at Source (TDS) is a system under the Income Tax Act, 1961, where tax is deducted at the time of making specified payments such as salary, interest, rent, or professional fees. After deducting TDS, it is mandatory for the deductor to TDS Returns Filing, providing details of tax deducted and deposited with the… Continue reading Step-by-Step TDS Returns Filing: Forms 24Q, 26Q, 27Q & Penalties Explained
Income Tax Return Form 4, commonly known as ITR-4 (Sugam), is a simplified income tax return form prescribed by the Income Tax Department of India. It is designed for resident individuals, Hindu Undivided Families (HUFs), and firms (other than LLPs) who opt for the presumptive taxation scheme under the Income Tax Act, 1961. Who Can… Continue reading Who Can File ITR-4 Sugam? Complete Eligibility Checklist
1. What Is Form 24Q? Form 24Q is the TDS return specifically for salary payments. Every employer who deducts TDS from employee salaries under Section 192 must file Form 24Q every quarter. It contains: Employee salary details TDS deductions PAN details Proof of tax deposited Deductions under Chapter VI-A Exemptions under Section 10 The fourth… Continue reading Essential Guide to Salary TDS Returns Filing and Form 24Q Requirements
Life Insurance Corporation of India (LIC) is the largest and most trusted life insurer in the country, serving millions of policyholders for more than six decades. Insurance through LIC provides financial protection, long-term savings, and investment-linked benefits, making it a preferred choice for individuals and families. 1. Financial Security for the Family The primary benefit… Continue reading Benefits of Insurance Through LIC of India
Form 15CA and Form 15CB are compliance documents required under the Income Tax Act, 1961, for remittances sent outside India. Their primary purpose is to ensure that any payment made to a non-resident is examined for taxability before it leaves India. These forms help the Income Tax Department track foreign remittances and prevent tax evasion… Continue reading Filing of Form 15CA & Form 15CB: A Comprehensive Guide
Section 147 empowers the Income Tax Department to reassess the income of a taxpayer if the Assessing Officer (AO) believes that income chargeable to tax has escaped assessment for any previous year. When can Section 147 be invoked? The AO must have “reason to believe” that income has escaped assessment. Common reasons: Non-filing of return… Continue reading Section 147 – Income Escaping Assessment (Reassessment)
A Net Worth Certificate is an official document that certifies the total net worth of an individual or a business entity at a particular date. It is most commonly issued by a Chartered Accountant (CA) after verifying the assets and liabilities of the person or business. Many institutions require a net worth certificate to assess… Continue reading Net Worth Certificates: Meaning, Importance, Components & Format
Micro, Small, and Medium Enterprises (MSMEs) form the backbone of the Indian economy. They contribute significantly to employment generation, manufacturing output, and exports. To support and promote these enterprises, the Government of India has introduced various schemes, subsidies, and credit facilities. With the introduction of Udyam Registration, the MSME sector has become more organized and… Continue reading MSME: Meaning, Classification, Benefits, Registration & Importance in India
We have launched a range of Chartered Accountants Services for families along with a complete income tax filing product suite covering ITR-1 to ITR-7. With the launch of our families division, we aim to help millions of Indians with financial literacy, compliance and investment.
Enquiry Now
