TDS & TCS Changes from 1st April 2025
The Budget 2025 has brought significant reforms to the Tax Deduction at Source (TDS) provisions under the Income Tax Act, 1961, aiming to simplify compliance for businesses and individuals. These amendments primarily focus on raising threshold limits and introducing new provisions to enhance efficiency and ease the taxation process. This article provides a clear and […]
Filing of Income Tax Return for F Y 2023-24
Every Individual / HUF/ AOP/ BOI (whose books of accounts not required to be audited) need to file Income Tax Return (ITR) every year before 31st July. Hence due date for filing ITR for F Y 2023-24 is 31st July 2024. In case taxpayer could not file the return before 31st July, he/she can still […]
Taxposium 2024: All About Upcoming Tax Event and Conference
Taxposium, the global event for tax professionals, is ready to roll again! Excited to immerse yourself in the vibrant world of tax law and connect with leading industry innovators? You should be because the premier event for tax professionals will unfold at the Walt Disney World Dolphin Resort in Orlando. Since a lot of accounting […]
15 Tax Filing Tips and Strategies for Small Businesses in India
Tax filing in India, without proper planning and insights, can be intimidating. Many small businesses and young entrepreneurs face penalties after tax filing due to limited know-how. Thankfully, that won’t happen to you since we have the best tax filing tips and strategies right here! In this article, Finsmart Accounting – trusted globally for outsourced […]
8 Income Taxation Problems Faced by Businesses in India
Running a business in India is nothing less than a roller coaster ride. But things can get not-so-fun when entrepreneurs reach the income tax curve. Entrepreneurs, especially young ones, are unaware of the hidden complexities within the Indian taxation system and often feel confused when the time to file income tax returns comes around. So, […]
8 Common Financial Mistakes And Money Errors Made by Startups
Most startups face a lot of financial management challenges in their journey to success. While staying attuned to market dynamics, and embracing sound financial principles help startups enhance their chances of achieving long-term success, very few can dodge common financial mistakes. In this blog, Finsmart Accounting – one of the leading accounts outsourcing services providers […]
Year End Tax Planning for Global Businesses: 10 Strategies and Tips
As the year calendar draws to close, a lot of businesses operating globally find themselves in a crucial juncture for strategic financial planning. Year-end tax planning strategies can significantly impact operations, allowing businesses to access the fiscal positions in front of competitors. Still, a lot of businesses operating on a global scale are not familiar […]
Top Challenges in Cross-Border Taxation and How to Overcome Them
“What cross-border taxation challenges should I be aware of after expanding my business in India?” In today’s globally connected economy, a lot of businesses are eagerly venturing beyond their home borders. India especially has emerged as a prime destination for lucrative opportunities and the prospect of high profits is drawing international businesses to expand their […]
Form 10F Simplified: Key Steps for Non-Residents Receiving Income from India
Form 10F is like a self-declaration form for people who live outside India but earn money here. If you’re a non-resident and want to benefit from a tax agreement between India and your home country, you need to fill out this form. In this blog, Finsmart accounting – one of the best outsourced accounting services […]
How to Maximize Tax Deductions in 2024: Expert Advice, Pro Tips and Strategies
Paying taxes in a timely and efficient manner is becoming increasingly important for businesses of all sizes in India. To minimize your liability during tax filing, it’s critical to be aware of deductions and rebates sanctioned by the government. As we approach the tax season 2024, new businesses and individuals are eager to discover ways […]