Overview For resident Indians who earn income from abroad, understanding how to claim tax credits on foreign income is crucial to optimizing their tax obligations in India. This guide by FinBizz delves into the essential aspects of claiming tax credits,…
Overview Awards and prizes from lotteries, game shows, and puzzles can be exciting windfalls, but they also come with significant tax implications. Understanding how these earnings are taxed can help recipients manage their windfalls effectively. This comprehensive guide by FinBizz…
Overview Understanding how to calculate total income is fundamental for individuals and businesses to ensure proper tax reporting and compliance. Total income, often referred to as gross income, is the aggregate of all taxable income a person or entity earns…
Overview Dividends represent a fundamental component of investment income, rewarding shareholders with a portion of a company's profits. With recent shifts in tax legislation, particularly the abolition of the Dividend Distribution Tax (DDT) in 2020, understanding how dividends are taxed…
Overview Self-employed individuals, including business owners, professionals, and freelancers, face unique challenges and opportunities when it comes to managing their income taxes. Unlike salaried employees, who have taxes withheld from their paychecks, self-employed individuals must take a proactive approach to…
Overview GST (Goods and Services Tax) is a comprehensive, multi-stage tax on the sale of goods and services, implemented to streamline the complex tax structure in many countries, including India. GST registration is mandatory for businesses meeting specific criteria, such…
Overview The National Small Industries Corporation (NSIC) is a Government of India enterprise under the Ministry of Micro, Small and Medium Enterprises (MSME). NSIC has been set up to promote and support MSMEs by providing integrated support services encompassing Marketing,…
Overview Startup registration is a critical step for new businesses aiming to operate within the legal frameworks of their respective countries This process not only legitimizes a business but also opens a myriad of opportunities for entrepreneurs, including access to…
Introduction to Section 44AD of the Income Tax Act Section 44AD of the Indian Income Tax Act offers a simplified taxation regime, known as presumptive taxation, specifically designed for small businesses. This scheme allows eligible businesses to assume income at…
Overview Navigating the complexities of international business transactions requires a thorough understanding of tax regulations, such as Section 92E of the Indian Income Tax Act. FinBizz provides expert guidance on complying with this section, which mandates the furnishing of reports…
