In the dynamic realm of Goods and Services Tax (GST), the GSTR-3B form serves as a compass, guiding businesses through the complexities of tax compliance. This article endeavours to unravel the intricacies of GSTR-3B, offering a detailed guide while also reflecting on the growth of GST and its overarching aim from a taxpayer’s perspective. Evolution… Continue reading A Holistic Journey Through GSTR-3B: From GST Introduction to Empowering Taxpayers
One such crucial deduction is under Section 80D, specifically designed for medical insurance premiums. In this blog post, we unravel the details of Section 80D, exploring who is eligible, the purposes for which deductions are allowed, and the quantum of deductions permitted. Eligibility and Purpose of Deduction: Section 80D provides deductions to individuals, Hindu Undivided… Continue reading A Guide to Tax Benefits of Deductions for Medical Insurance Premium under Section 80D
In an income tax filing, missing the initial deadline can be stressful, but all is not lost. Section 139(4) of the Income Tax Act, 1961, provides a lifeline known as the Belated Return, allowing individuals to file their income tax returns after the original deadline but before the extended one, which is December 31st of… Continue reading Understanding Belated Returns in Income Tax Filing
GST return filing is a requisite process for businesses operating under the GST framework. Whether on a monthly, quarterly, or annual basis, businesses with GST registration are obligated to submit detailed records of their sales, purchases, and corresponding tax transactions. The implementation of a comprehensive Income Tax System, exemplified by GST in India, has not… Continue reading GST Return Services Delhi: Your Guide to Effective Tax Compliance
GST registration can be obtained voluntarily by any person or entity irrespective of turnover. GST registration becomes mandatory if a person or entity sells goods or services beyond a certain turnover. It is mandatory for businesses with turnovers exceeding specified thresholds (Rs. 40 lakhs, Rs. 20 lakhs, or Rs. 10 lakhs, as applicable) to register… Continue reading A Comprehensive Guide to GST Registration Delhi, Compliance, and Benefits
The ITR-4 (Sugam) is an Income Tax Return form in India designed for individuals and Hindu Undivided Families (HUFs) earning income from a proprietary business or profession. It serves as the designated Income Tax Return form for taxpayers who choose the presumptive income scheme outlined in Section 44D, Section 44DA, and Section 44AE of the… Continue reading Understanding the Basics ITR-4 Filing: Essential Documents and Pro Tips
Income Tax Return (ITR) is a form taxpayers use to disclose their income earned and tax payable before the income tax department for every financial year. The income Tax department has notified 7 ITR forms i.e. ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-7 to date. Every taxpayer needs to file their ITR on or… Continue reading Taxcellent’s Guide to ITR-1: Filing with Confidence and Accuracy
What is Tax Deducted at Source (TDS)? Tax Deducted at Source (hereinafter referred to as “TDS”) is an income tax that is deducted on making certain payments of expenses like rent, salary, commission, interest, professional fees, etc. The person paying the amount for such expenses should deduct TDS while making such payment if the threshold… Continue reading TDS Returns Filing & Payment: A Step-by-Step Guide for Deductors
Net worth certificates play a crucial role in assessing an individual’s or a company’s financial health. These certificates provide a comprehensive snapshot of an entity’s financial standing, offering insights into its assets, liabilities, and overall net worth. In this article, we’ll explore the concept of net worth certificates, their components, and the significance they hold… Continue reading Taxcellent helps you in understanding Net Worth Certificates and their Significance
Single-entry bookkeeping services in Delhi offer a simplified yet effective method for small businesses to manage their financial records. Unlike double-entry systems, single-entry bookkeeping tracks transactions with only one entry, making it suitable for businesses with straightforward financial activities. At its core, the single-entry bookkeeping system is based on a fundamental premise: each financial transaction… Continue reading Why Single-Entry Bookkeeping Services is Required?
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.
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