Category Tax

Income can come from multiple sources, and while most of us are familiar with salaries, business profits or rental income, there’s another category worth knowing about – casual income.  This refers to money received occasionally or unexpectedly, and it is…

The Goods and Services Tax (GST) regime in India has streamlined indirect taxation and introduced digital compliance, but it also requires businesses to follow certain formalities, especially when delegating responsibilities.  One such formality is the authorisation letter for GST. This…

Transportation plays a vital role in business operations, whether it’s the movement of raw materials, finished goods, or machinery. However, apart from the logistical aspects, there is also a compliance angle that businesses must manage — specifically, TDS on freight…

Whether you are a buyer or seller of mattresses in India, an awareness of tax implications is vital on both sides. The Goods and Services Tax (GST) law classifies every product with specified HSN(Harmonised System of Nomenclature) codes to formally…

Depreciation is a vital concept in the tax world for businesses and professionals alike. It allows you to claim the decrease in value of your assets over time and ultimately reduce your tax liability. For the financial year 2025-26, the…

In the world of accounting, accuracy is everything. Every transaction must be recorded properly to ensure that the financial statements reflect the true position of a business. One key tool used by accountants to check the mathematical accuracy of ledger…