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Micro, Small, and Medium Enterprises (MSMEs) play a critical role in India’s economic growth, contributing significantly to GDP, exports, and job creation. Recognising their importance, the government has periodically revised … Read More
The FSSAI license is a mandatory certification for food businesses in India, ensuring compliance with food safety standards set by the Food Safety and Standards Authority of India (FSSAI). Who Needs an FSSAI License? Any individual or entity involved in the food business must obtain an FSSAI license or registration. This includes: Restaurants, hotels, and cafes Food manufacturers and processors Wholesalers and distributors Food vendors and hawkers Importers and exporters of food products Home-based food businesses. Types of FSSAI Licenses: There are three main types of FSSAI licenses based on the scale of operations: Basic FSSAI Registration: For small businesses with an annual turnover of up to ₹12 lakhs. State FSSAI License: For businesses with a turnover between ₹12 lakhs to ₹20 crores. Central FSSAI License: For largescale operations with a turnover exceeding ₹20 crores, including importers and businesses operating in multiple states. Application Process: To obtain an FSSAI license, follow these steps: Determine the License Type: Based on your business size and turnover. Register on the FoSCoS Portal: The Food Safety Compliance System (FoScoS) is the online platform for FSSAI applications. Submit the Application: Fill out the relevant form (Form A for registration, Form B for licensing) and provide necessary documents, such as identity proof, address proof, and business details. Pay the Fees: The fee varies based on the type of license, ranging from ₹100 to ₹7,500. Inspection: An inspection may be conducted before the license is issued, which can take from 7 days for basic registration to up to 60 days for state and central licenses. Benefits of FSSAI License: Legal compliance: … Read More
The Employees’ State Insurance Scheme of India (ESIC) is a multi-faceted Social Security Scheme designed to provide socio-economic protection to ’employees’ in the organized sector. ESIC Scheme is administered by a statutory corporate … Read More
When you retire from your job, your salary stops, but your expenses don’t. In fact, the cost of living and expenses rises after retirement. So, if you want to ensure … Read More
Tax Collection at Source, more popularly known as TCS, provisions mandate the seller to collect tax from the buyer and deposit the same to the Government. The provision of tax … Read More
TDS, or Tax Deducted at Source, is an income tax that is deducted from certain payments such as salary, rent, commission, and professional fees at the time of payment. The person making the payment is responsible for deducting TDS and depositing it with the government. This system helps streamline tax collection and ensures that tax is collected at the source of income. TDS Rate Chart for FY 2025-26 Sections Payment Type Rate (%) 192 Salary payment Normal Slab Rate 192A Withdrawal from employee’s provident fund 10% 193 Interest on securities 10% … Read More
Professional tax is a tax levied by state governments in India on individuals and entities earning income from professions, trades, or employment. It is a source of revenue for state governments and is governed by state-specific laws. The tax is applicable to both salaried employees and self-employed individuals, and it is deducted from salaries by employers or paid directly by self-employed professionals. Professional Tax Applicability: Professional Tax is applicable for the below-mentioned individuals and entities: Companies Firms LLPs Corporation Societies HUF Associations Clubs Legal practitioners such as solicitors Contractors Architects Engineers … Read More
Notification: The CBIC has issued Notification No. 15/2025-Central Tax dated 17.09.2025, granting relief to small taxpayers under the GST regime by exempting from Filing GST Annual Return for FY 2024-25 … Read More
Advance tax is a type of income tax that is paid before the end of the financial year in installments rather than in a lump sum. It is also known as a “pay-as-you-earn” system, where … Read More
Yes, you can file ITR-U, under section 139(8A). If you have missed to file your previous four years ITRs. For current year you can file your regular. What happens … Read More