Bihar Startup Policy aims to support startups by seed funding as well as matching grants to increase their viability. The state government of Bihar provides entrepreneurs with interest-free seed money of Rs 10 lakh for a term of 10 years…
To boost the Startup ecosystem in India, Shri Piyush Goyal, Honourable Cabinet Minister for Railways, Commerce and Industry, Consumer Affairs, Food and Public Distribution launched the Startup India Seed Fund Scheme on 19th April 2021. The Startup India Seed Fund Scheme is a government…
A startup is an entrepreneurial venture in the early stages of operations, typically created for resolving real-life problems. These companies typically don’t have a fully developed business model and, more crucially, lack adequate capital to move onto the next phase of business.…
Director identification number (DIN) refers to a unique identification number allotted to an individual who is willing to be a director or is an existing director of a company. DIN is obtained by submitting an application in e-Form DIR-3. However,…
Under the Income Tax Act 1961, every person who has been allotted Permanent Account Number (PAN) and is eligible to obtain an Aadhaar Number shall mandatorily link PAN with Aadhaar. The deadline to link PAN with Aadhaar was extended from the…
Every salaried person must pay an amount from their salary as tax under the Income Tax Act of 1961. Under the Income Tax Act of 1961, there are many provisions and variations with subsections describing the details of tax payments,…
Section 80TTA of the Income Tax Act, 1961 provides a deduction of up to Rs 10,000 on the income earned from interest on savings made in a bank, co-operative society or post office. It applies to all individuals and…
What is Section 80TTB? Section 80TTB of the Income Tax Act, 1961 allows a resident senior citizen to claim a deduction against interest on the deposit. Under Section 80TTB deduction, senior citizens can claim income tax exemption of upto Rs. 50,000/-…
What is Belated Return? A belated return is a return that is filed after the due date specified in the income tax act. It can be filed at any time before the end of the relevant assessment year or before the…
It is important for individuals, businesses, and various other entities to file their income tax returns before due date. ITR filing on the due date is essential to comply with tax laws, avoid penalties, claim timely refunds, maintain accurate financial…