Elangovan Nagarajan
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Apart from the credit announcement for MSME in the budget session held on 1st February 2022, FM announced a major step towards development of MSME section soon. Consolidating the database on MSME from information to credit access. Finance minister announced the interlinking of portals such as Udyam, e-Shram, National Career Service [NCS] and Atmanirbhar Skilled…
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We may often find a small business entrepreneur wearing multiple hats in running their start-up such as handling tech, marketing, finance, and sales. Given the priority of sales and marketing, finance and compliance take a back seat. However, what makes finance and compliance as important as other aspects of business is, it involves multiple compliances,…
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First and foremost, If you are earning substantial part of your income by rendering services to clients outside India, GST registration is mandatory and such sales must be reported in GSTR filings. If you fall under the this category and failed to register your business with GST do it at the earliest. Small companies, Freelance…
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Relaxation on certain category of senior citizens from filing of Income-Tax returns To provide relief to the senior citizens aged above 75 years from filing Income Tax Return who earn income by the source of either pension or interest, if the following conditions are satisfied: He has pension and/or interest income from the same bank…
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Trading in stocks or F&O, can be broadly classified into (a) Speculative business transaction and (b) Non Speculative transaction. Speculative Transaction: As per Section 43(5) of the Income Tax Act, 1961, any transactions relating to purchase and sale of commodity, shares and scripts settled without taking delivery (this means the purchase or sale won’t enter Demat account) will be treated as…
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