Author: ITeCApp
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Cross Utilization of GST Input Credit
Input GST credit can be cross-utilized for payment of other tax liabilities, this means that a credit component of Central Goods and Services Tax (CGST) / State Goods and Services Tax (SGST) can be utilized for Integrated Goods and Services Tax (IGST), and vice versa. The Law on the order of Input Tax Credit (ITC)…
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What is a Private, Public and OPC Company?
A common dilemma while starting a company is deciding the type of company. Private or Public? Or should I go for One-Person-Company (OPC)? Well, the answer lies in the idea of the business and how you see it in the future. Let’s decode each of them so that you can make a better decision. Whether…
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Chapter VIA Deductions that you did not know about!
80TTA/80TTB: 80TTA is the deduction regarding to SB interest for the person aged below 60 years the limit on which deduction is Rs. 10,000/- or actual amount received whichever is less. 80TTB is for the person aged above 60 years, the limit of deduction is Rs. 50,000/-which also includes FD interest received from banks, cooperative…
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Have a Business Idea? Start Here!
So, you have a business idea and you have set your business objectives! The main confusion right now would be where to start? Which is the most suitable structure for your business idea? Deciding the structure of the business is important because it will define the legal expenses, compliance costs, taxes, and ease of investment.…
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ESOP – Navigating the Tax Implications
If your CTC has an exciting but rather confusing component, it would definitely be ESOPs. Employee Stock Option plan allows you to become a shareholder of the company at a discounted price. But, this discount and shareholding impact your income tax return. Let’s find out how ESOPs will hit your income tax return. Basics First!…