House Rent Allowance tax exemption is a widely used benefit employers provide to employees to help them with their rental expenses. HRA can be claimed under Section 10(13A) of the Income Tax Act, 1961, for rent paid for accommodation, but specific guidelines and conditions must be met to avail of this exemption. One such situation […]
What is a Non-Banking Financial Company (NBFC) A Non-Banking Financial Company (NBFC) is a type of financial institution that provides financial services similar to traditional banks but does not hold a full banking license. NBFCs are regulated by financial regulatory authorities in their respective countries. Here are some key characteristics of NBFCs: 1. Financial Services: […]
The Full Form Of DTAA The Full form of DTAA is the “Double Taxation Avoidance Agreement.” DTAA is an agreement between two countries That aims to eliminate or reduce the double taxation of income or wealth that may arise when a taxpayer is a resident of one country but earns income or holds assets in […]
As of my knowledge cutoff in September 2021, the Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. However, please note that tax regulations and policies are subject to change, so it’s always a good idea to consult the latest information or a tax […]
E-invoicing of GST (Goods and Services Tax) is a digital invoicing system introduced by the Government of India to streamline and automate the invoice generation and reporting process. It aims to enhance tax compliance, reduce tax evasion, and improve overall efficiency in the tax system. Here is a complete guide to understanding e-invoicing of GST: […]