Complete Guide For An Indian Citizen: How To Claim Credit On Foreign Tax Paid
The Internet has brought the world closer by providing a means to uninterrupted and constant access to the virtual connection. This has led to people regularly shopping and doing business with citizens of other nations. Income from other countries has become common, and with this comes the responsibility of paying taxes. In this blog, you […]
What Do You Do Now With Your GST Registration Number?
The Goods and Service Tax (GST) is a consumption-based tax that is charged at the point of consumption. It is imposed at all stages of consumption, i.e. from manufacturing till its consumption or utilization by the consumers. So what comes next after you get your GST Identification Number (GSTIN)? Step 1: Showcase the GST Registration […]
4 Essential Deductions Under Section 80 of the Income Tax Act That You Must Know
The Government of India has given its citizens the benefit of reducing their income tax. This is by claiming Income Tax deductions for certain expenses and investments. Income tax is levied on individuals based on the income tax slab for the financial year. Taxpayers must keep a tab on the IT slabs rolled out every […]
How To Save Tax Legally? : 15 Ways To Conduct The Process For 2023-2024
There is multiple productive way of saving tax. You head that right. Now taxpayers can easily save tax legally. Most taxpayers are unaware of tax-free income. With the amount saved, taxpayers can invest double and drive better revenue. But how is it possible save tax legally? Diligen gives you 15 productive way of saving tax […]
Complete Guide on Tax Shelters: Is it an Offence or Intelligence?
Introduction A tax shelter is a vehicle used by people or organizations to reduce or eliminate their taxable income and, as a result, their tax responsibilities. Tax shelters are lawful and can range from tax-favored assets or investment accounts to activities or transactions that reduce taxable income through deductions or credits. However, there are a […]
4 Pillars Of Strength That Define A Simpler Tax System Process For 2023
As Taxpayers, you are aware of the struggles when it comes to understanding income tax slabs, GST slabs, etc. Understanding the tax system can never be easy. But if you approach it with a simpler process, the chances of understanding the tax world would be better. So, what would a simpler tax system look like? […]
Switch To Outsourced Accounting Services That Leverage Technology for Better Results
Emerging technological developments and outsourced accounting services have redefined the accounting industry. They are helping companies to play in fair competition using artificial intelligence and automation. These advanced accounting tools and techniques not only minimize the time required to do repetitive jobs but also provide error free reports that help in analysis and decision making […]
A Complete Comprehensive Guide About E-Invoice Under GST
When it comes to GST in 2020, the most major and extensively publicized change has been e-invoicing. Industry-specific invoicing procedures have existed. Despite the proprietary methods of preparing invoices, the overall taxpayers welcomed the unified approach to e-invoicing. Understanding E-Invoice Under GST Under GST, E-invoicing is abbreviated and more often known as an E-invoice. E-invoice […]
Latest Goods and Service Tax (GST) updates by the Government for Companies and Taxpayers
The Goods and Service Tax (GST) was first introduced in India on July 01, 2007. Ever since, there have been several amendments and updates to improve the process of GST application on goods and services. The government is also bringing about many changes to the GST portal so that taxpayers can use the online GST […]
Understanding the taxability of benefits or perquisites under Section 194R
A new section 194R- TDS on benefits or perquisites provided has been introduced in the Finance Act, 2022. Section 194R is applicable with effect from July 01, 2022. Some important things about Section 194R Its Aim: Earlier companies/ perquisite providers would provide perquisites and/or benefits in either cash or kind to their distributors, channel partners, […]