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New Tax Regime vs Old Tax Regime: Which is Better for Employees
Summary: The new tax regime is simple to use and offers lower tax rates but a few deductions. Whereas the old tax regime provides multiple tax breaks but is quite difficult to understand. Look at the new tax regime vs old one to learn more about them in detail below. The Indian income tax system…
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Top 6 eTDS Return Filing Software in India for Experts
Summary: e-TDS Returns software is used to prepare and file TDS and TCS returns and generate their certificates accordingly. Moreover, you can also calculate TDS/TCS tax liability for hassle-free compliance. Let’s explore some of the best software that you can use for this purpose below. Electronic Tax Deducted at Source (eTDS) filing software has become…
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Simplify Tax Compliance with Automated Reporting Features of Accounting Software
Summary: Automated accounting software simplifies tax compliance for small businesses, saving time and minimizing errors. Offering features like automated tax calculations and real-time reporting, accounting software simplifies financial processes. Its integration with tax software ensures accurate filings and compliance with regulations. A smart way for small businesses to manage taxes is by utilizing the automated…
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IMPS vs RTGS vs NEFT: A Comprehensive Guide for Banking Software Functionality
Summary: NEFT, RTGS, and IMPS are some of the most popular funds transferring systems in India. NEFT and RTGS were introduced by the Reserve Bank of India (RBI) whereas IMPS was introduced by the National Payments Corporation of India (NPCI). Keep on reading about IMPS vs RTGS vs NEFT to find out more about their…
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How to Make Online Payment of TDS: A Step-by-Step Guide
Summary: Paying your TDS online is very easy. You need to visit NSDL’s website where you can search for the challan number within the TDS section. Once it opens up, you must fill in your personal data and tax-related details. Keep on reading to learn the complete procedure of paying your TDS online. TDS or…
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HSN Code List and GST Rates
Summary: HSN code list and GST rates are divided into multiple chapters that cater to different types of services. Keep on reading to find all the HSN codes along with their applicable GST rates below. The HSN code list and GST rates go hand to hand with the Indian taxation system. After the implementation of…
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Difference Between Direct and Indirect Tax
Summary: The significant difference between direct and indirect taxes is that direct taxes are paid by individuals and businesses and the latter one is paid by end consumers. Let’s find out more about direct tax and indirect tax below. In India, whether you are making profits or purchasing a good or service, as an individual…
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TaxBuddy vs ClearTax: Detailed Comparison of Income Tax Software
TaxBuddy and ClearTax are two different types of income tax software that helps users to easily file returns, calculate TDS, eliminate errors, etc. Both are meant to simplify the task of filing TDS and ITR returns. Moreover, both software can be used for GST return filing also. Despite the common features, there are some highlighting…
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Income Tax for Freelancers: Self Employment Tax Benefits & Deductions in India
As per the report of DNA published in 2022, 51% of Indians are self-employed. The reason that most Indians are self-employed is because it offers people greater control over their work schedules, unlimited scalability, and direct benefits. However, the biggest benefit of all when it comes to being self-employed is that people get to keep…
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Tax Saving Tips for Traders and Investors in Stock & Mutual Funds
Tax saving is the word that everyone loves – Government Excluded! The reason for this is straightforward. Government levies tax on practically anything and everything possible. In 2018, India became the only country in the world to tax both long-term capital gain and short-term capital gain. If you are confused with the big words, stick…