In India, small business owners and professionals often struggle with the complexities of income tax compliance, particularly maintaining books of accounts and undergoing audits. To ease this burden, the Income Tax Act offers two powerful yet often misunderstood provisions — Section 44AD and Section 44ADA. These sections come under the Presumptive Taxation Scheme, aimed at simplifying tax filing for eligible taxpayers. With recent amendments raising…
In the complex world of monetary policy, few decisions attract as much attention as changes to the repo rate. When a central bank—like the Reserve Bank of India (RBI)—cuts the repo rate, it sends ripples across the entire economy. But what does a repo rate cut actually mean, and why should individuals, businesses, and investors care? What is the Repo Rate? The repo rate, officially…
The CGST Delhi East Commissionerate’s recent GST Registration Campaign 2025 has raised the bar for taxpayer engagement. Held over two-days in some of Delhi’s busiest market, the initiative not only drove new GST registrations but also aimed to reshape how business perceive GST officers – from enforcers to enables. For years, tax assessments and compliance checks have carried a reputation of being complicated, intimidating, and…
Managing finances in India as a Non-Resident Indian (NRI), Person of Indian Origin (PIO), or foreign national can often seem complex. However, the Reserve Bank of India (RBI) has well-defined regulations that provide clarity on the types of accounts non-residents can open. Understanding these accounts is crucial for efficient fund management, repatriability, and taxation compliance. Understanding NRI and PIO Status An NRI (Non-Resident Indian) is…
