Middle East cryptocurrency adoption has also picked up pace at a hectic rate, with the UAE being a pioneering and rule-setting global leader in blockchain today. Dubai Virtual Asset Regulation Law was signed into law in March 2022, at the behest of His Highness Sheikh Mohammed bin Rashid. The law required the Virtual Assets Regulatory … Read more
The GST was implemented in 2017 with the promise of being a one nation, one tax. However, it was a game of four slabs and endless confusion. From tax slabs 5%, 12%, 18%, and 28%, plus cess on sin goods, businesses and consumers were forced to do hard maths and stayed confused. However, this has … Read more
The Indian Income Tax Department(ITD) has not issued any detailed guidance for cryptocurrency taxation. However, the income tax act contains key provisions such as Section 115BBH and Section 194S. These sections govern taxation on cryptocurrency and other virtual digital assets(VDAs). Profits from VDAs are generally subject to a flat 30% tax, 1% TDS on certain … Read more
After you’ve filed your ITR, the Income Tax Department checks your return for correctness. This checking generates a formal notice named Income Tax Notice 143(1) or Intimation under Section 143(1). It is among the most common notices issued to taxpayers and it is vital to understand why it is being issued, what exactly it … Read more
Being tax-compliant is sometimes an annual burden, however with the aging population in India, there are significant relief measures that the government has implemented. Some elderly citizens in 2025 will be allowed by law not to file income tax returns under certain conditions. This will lessen stress and paperwork so that they can concentrate on … Read more
Limited Liability Partnership (LLP) has become one of the most popular types of business in India over the past decade. It is a combination of a partnership and limited liability, which is why it is the best choice in a startup, professional, and small business. To offer a business structure that is easy, affordable and … Read more
India has become one of the most rapidly expanding startup ecosystems globally, and to a large extent this has been fueled by the proactive government support. Government schemes for startups in India targets to make it easier to start a business, whether through ease of compliance or access to funds, to enhance innovation. Since the … Read more
Among the most compelling reasons to support incorporation for UK company registration is the tax efficiency it offers. Being a limited company can result in several advantages compared to being a sole trader or partnership. Lower corporation tax rates to lower tax bills, to space to do wiser financial planning are just some of the … Read more
India waived duty on cotton till 31 December 2025 as relief to the textile sector. The move has been scheduled at the time of distress to the sector from global trade as the United States, in turn, had imposed high tariffs. By ensuring duty-free entry to the import of cotton, the government is attempting to … Read more
Taxpayers file their ITR every year anticipating a refund in case they are over-deducted tax from their income more than required. Although most refunds are released hassle-free, at times the Income Tax Department surprises the taxpayers by sending an income tax refund adjustment notice in place of the refund. The notice at first sight might … Read more