The Nation is all geared up for the implementation of one of the biggest indirect tax reforms in India. Are you? All you need to know about GST (Goods & services tax) which is set to rule from 1st July 2017.
As the name itself suggests, Goods and Services Tax will be levied on “Supply” of goods and services. It is a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India to replace the existing modes of taxation levied by the central and state governments. Continue reading “GST: The Goods and Service Tax”
Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Department of Industrial Policy and Promotion (DIPP), the nodal body for Startup India, taking into account the long gestation period in establishing startups, has revised the definition of startups in its startup action plan with a view to encourage startups in India and also to make procedures easy. Continue reading “New definition of Startup”
Be it startups or salaried persons, most people are faced with certain challenges when it comes to managing taxes. Most of us know the basics of it but only a few of us are actually conscious about the nitty-gritties and the best practices.
As a consequence, there is a common misconception among taxpayers that once TDS or advance tax has been paid, the filing of returns is not a very important exercise. However, it is essential to know, you have an unfinished job at hand until you have filed your tax returns. It is in fact our constitutional obligation to file returns at a stipulated time of the year. Continue reading “Income Tax Return (ITR) Filing”
Intellectual property is a vast and complex term. Many a time people are confused or have incorrectly used the terms used in intellectual property law. They have spoken of “copyrighting” an idea or even “patenting” a book! To understand these terms, it is essential to know what is Intellectual Property and what all does it entail. Continue reading “Basic difference between trademark, copyright and patent”