by SPCC Editorial Team | Oct 29, 2025 | Tax Advisory
TL;DRPartnership firms can legally reduce their tax outgo by leveraging deductions, exemptions, and presumptive taxation under the Income‑Tax Act, 1961. Follow a structured approach: map all allowable expenses, maximise Section 80C/80D benefits, consider Section 44AD...
by SPCC Editorial Team | Oct 29, 2025 | Tax Advisory
TL;DRSave tax on gambling winnings by understanding tax laws, claiming deductions, and maintaining accurate records. Key takeaways include:Understand tax laws and regulations on gambling winnings in IndiaKnow what is taxable and what is notClaim deductions and...
by SPCC Editorial Team | Oct 29, 2025 | Tax Advisory
TL;DR Buying a car in India can be tax‑intensive, but strategic planning can cut your liability dramatically. Know the three core taxes: GST (28%), State Road Tax (2‑20%), Registration Fee. Leverage Section 80C (up to Rs 1.5 lakh) for business‑use vehicles and...
by SPCC Editorial Team | Oct 29, 2025 | Tax Advisory
TL;DR Quick takeaways for Indian private limited companies looking to minimise tax liability: Stay compliant with the Income Tax Act, 1961 and understand applicable rates. Leverage statutory deductions – business expenses, depreciation, R&D, export income. Adopt...
