Pre-Owned Cars – Always a better deal
In today’s world, buying a car is one of the biggest investments you’ll make. With so many options available, it can be hard to decide between a brand-new car and a pre-owned vehicle. While new cars have their appeal, there are several compelling reasons why purchasing a pre-owned car could be a much smarter […]
Is TDS to be deducted by all business entities?
TDS, or Tax Deducted at Source, is a component of income tax. It must be deducted by a person while making certain payments in the ordinary course of business. Let’s explore the provisions of TDS as per the Income Tax Act of 1961. What is TDS? TDS stands for Tax Deducted at Source. It means […]
Disallowed Expenditures in Business and Profession
When computing the profit and gains from a business or profession, certain expenditures are disallowed. This means that taxpayers must add these disallowed expenditures back to their net profits when calculating taxes. There are two primary reasons for disallowing an expenditure: Disallowed expenditures not only attract tax but may also trigger interest, penalties, and prosecution […]
GST & Secondary Automobile Industry
GST applies to automobiles, including cars. In today’s era, the used car business is growing due to the ease of financing and improved durability of vehicles. Let us shed some light on the applicability of GST (Goods and Service Tax) on the sale of second hand or refurbished cars in India. Scope of Supply GST […]
