Diwali, the festival of lights, is synonymous with the lighting of diyas, elaborate decorations, and the bursting of firecrackers. Over the years, the fireworks industry has become an integral part of Diwali celebrations across India. However, with increasing environmental concerns and shifting societal attitudes, the dynamics of the cracker market have evolved. Let’s explore the scale of this market, its economic impact, and recent trends based on available data and reports.

In today’s fast-paced and ever-changing business world, staying ahead of the curve is essential. Emerging trends like digital transformation, sustainability, ESG (Environmental, Social, and Governance), and technological advancements are reshaping how businesses operate, innovate, and grow. This is where thought leadership comes in – providing visionary insights and strategic guidance to navigate these trends effectively. What is Thought Leadership? Thought leadership goes be

Tax incentives are available to businesses in India depending on the economic activity, industry, location, and size of the firm. Investors become eligible for most of India’s tax breaks and incentives after registering with the Ministry of Corporate Affairs. Tax incentives tied to specific targets – such as hiring over 50 Indian employees – often require additional permissions from related ministries. India offers tax relief at both the central and state level. Further, addi

It's natural to desire that your loved ones inherit your belongings and wealth after you pass away. In countries like India, while there's no tax on simply inheriting property or assets, your legal successors may have to pay taxes on any income earned from those inherited assets. In essence, this implies two things: India doesn't impose an actual inheritance tax, and taxes are only applicable if you generate any form of net income or profit from the inherited property or asse

You can still save some INTEREST on paying your ADVANCE TAX by 31st March, 2024. This is only applicable if your advance tax liability exceeds Rs. 10k. Interest for not paying advance tax on time is levied under two sections: Section 234B - (1% Interest per month is levied if 90% of assessed advance tax is not paid by 31st March 2024 and interest is charged from assessment year i.e. April 2024) Section 234C - (Levied if advance tax is not paid in prescribed percentages quarte

Income of any fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or subclause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10 (hereinafter referred to as trust or institution under the first regime) of the Income-tax Act, 1961 (hereinafter referred to as the Act) or any trust or institution registered under section 12AA or section 12AB of the Act (

Auditing and Assurance Standards Board The Institute of Chartered Accountants of India 28th March, 2024 ONLINE PANEL OF EXPERTS FOR ADDRESSING BANK BRANCH AUDIT RELATED QUERIES The bank audit season is around the corner and the Reserve Bank of India (RBI) has made several significant announcements requiring the attention of Statutory Branch Auditors (SBAs). These include revised guidelines on Basel III capital regulations, prudential norms for income recognition, asset classi

The Ministry of Corporate Affairs (MCA) has issued the advisory regarding the filing of the e form CSR 2 for the FY 2022-23 on or before the due date 31-03-2024 to avoid any penal action by the Ministry of Corporate Affairs. The advisory also states that All eligible companies are requested to incur prescribed CSR expenditure pursuant to Section 135 of the Companies Act, 2013 read with Companies (CSR Policy) Rules, 2014  on or before closing of the current financial year i.e.

Managing your finances and planning for taxes can be a daunting task, especially for individuals, businesses, entrepreneurs, and business owners. However, with the right strategies in place, you can effectively manage your finances and plan for taxes to achieve your financial goals. At Infosential LLP, we specialize in providing services that can help you with financial management and tax planning. In this blog post, we will share some effective strategies that can benefit yo

Are you a business owner or entrepreneur looking to drive growth and success in your business? If so, management consulting may be the key to achieving your goals. In this blog post, we will explore the importance of management consulting and how it can help drive business growth and success. At Infosential LLP, a growing management consulting firm we specialize in providing professional advice and support in managing finances, taxes, and overall business operations. We unde