How to Calculate Taxes on Online Casino Winnings in India?
In the past 10 years, the online casino industry in India has seen a massive surge in the number of players. This has been brought about by the fact that hundreds of millions of Indians have gotten access to high-speed internet connectivity at relatively affordable costs, allowing them to access online casinos that were previously […]
What is Overdraft (OD) and Cash Credit (CC) & Difference Between Them
A businessman has two options while taking a loan for his business. Either to opt for long term funding like LAP (Loan against property) or to go for flexible funding like Cash Credit (CC) or Overdraft (OD). Long term funding generally carries a lower rate of interest while flexible funding gives opportunity to save interest […]
10 Essential Tools That Will Help You Grow Your Business to New Heights
There are so many opportunities and challenges attached to running and growing a business which is why you could often do with some help in the form of some essential tools that make the task easier. Administrative tasks such as dealing with TDS payments (tax deducted at source), legal contracts, etc. can take up valuable […]
Essential Elements of Sales Invoice
Invoice is necessary for every business as you need it if you are selling and purchasing some goods or services. Every company or business is required to keep it in records. This is the reason it is considered an important document. Some important elements need to be included in every invoice. But one should take […]
E-invoicing under GST
GST council had implemented this e-invoicing feature in its 35th meeting which applies to the special category of individuals. Many people misunderstood this term as generation of invoice on GST portal but this is not so. E-invoice is a process of submission of already generated invoices on an e-invoice portal. E-Invoicing in detail is the […]
Must Have features for a billing software
Every business needs complete software that can make their tasks easier. But it is difficult to find such complete software. Customized software is preferred that can be changed according to the requirements. A software generally comes with a long list of features that are not required for every business. There are just a few features […]
Are Winnings from Online Betting taxable in India?
Following an increasing internet penetration in India, more and more Indians are beginning to make use of so-called online betting sites which allow users to place bets on popular sporting events from India and around the world and potentially win money. As with all activities that have an element of income-earning potential, the inevitable questions […]
GST Returns for Persons Registered under Composition Scheme
Details, as furnished in Details of outward supplies in Form GSTR-1, will be available to the composite dealer in Form GSTR – 4A. The dealer can add, correct or delete such details. After such addition, correction or deletion quarterly return in Form GSTR-4 is to be furnished. Form GSTR-4 shall include- (a) invoice wise inter-State and intra-State inward […]
Taxability of Salary and Other Income for Seafarers
Taxability of Salary Income As per Section 5(2), the total income of any financial year who is a non-resident includes all the incomes from whatever source derived which – is received or deemed to be received in India or arise in India during such financial year. accrue or arises or is deemed to accrue or […]
GST on Hotels – A Complete Guide
Services provided by the hotel is a taxable service in GST. The place of supply will always be the state/union territory where the hotel is located even if the guest is a registered person and has GSTIN of another state. Therefore, a hotel has to charge SGST and CGST always. The guest can take input […]