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TAN, PAN & TIN: Key Differences Every Business Owner Should Know
· 9 min read · GST

TAN, PAN & TIN: Key Differences Every Business Owner Should Know

Demystifying India’s three core tax IDs for entrepreneurs and business loan applicants Authored By FlexiLoans | Date: 05/09/2025 Quick Summary PAN stands for Permanent Account Number, used for all income tax filings. TAN is the Tax Deduction and Collection Account Number, mandatory for deductors. TIN was the Taxpayer Identification Number used for VAT, now replaced …

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Corporate Tax in India: A Complete Guide for Businesses
· 14 min read · Tax

Corporate Tax in India: A Complete Guide for Businesses

Corporate tax in India is levied on the income earned by both domestic and foreign companies. It is a key element of the country’s tax infrastructure that affects every small or large business. There are also different types of taxes levied on corporations in India, direct taxes and indirect taxes. Direct taxes are imposed on …

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Old vs. New Income Tax Slabs for FY 2024-25 – Which one is Beneficial for You?
· 11 min read · GST

Old vs. New Income Tax Slabs for FY 2024-25 – Which one is Beneficial for You?

Each year, the Indian government unveils its budget, which outlines various economic policies and taxpayer relief measures. Among the budget’s critical components are the income tax slabs, which dictate the amount of tax individuals owe on their income. As of January 17, 2025, the Indian tax landscape has undergone significant changes in the fiscal year …

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Difference Between Professional Tax and TDS
· 8 min read · GST

Difference Between Professional Tax and TDS

Understanding professional tax (PT) is crucial for SMEs for several reasons. It ensures compliance with local tax laws, impacts payroll management, and supports proper financial planning and tax filing. This article will explore professional tax, how it differs from TDS, and the consequences of non-compliance. What is Professional Tax? Professional tax is a state-level tax …

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Capital Gains Tax – Definition, Types, Rates, and Calculation
· 10 min read · GST

Capital Gains Tax – Definition, Types, Rates, and Calculation

When you own an asset like property, shares, or mutual funds, understanding the nuances of capital gains tax (“CG tax”) becomes crucial. This guide simplifies the complexities of this tax, covering its definitions, types, rates, and the calculation process. You’ll also learn about available exemptions and the latest tax rule changes related to mutual funds. …

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Essential Insights into Professional Tax: Key Information You Need to Understand
· 10 min read · GST

Essential Insights into Professional Tax: Key Information You Need to Understand

Professional tax plays a critical role in financial management for individuals and businesses in India. Grasping its concept, rates, due dates, and compliance requirements is essential to avoid penalties and ensure smooth operations. This comprehensive guide offers key insights, assisting you in navigating the complexities and maintaining compliance. Whether you are an employer, employee, or …

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GST Input Tax Credit: Maximizing Tax Benefits
· 10 min read · GST

GST Input Tax Credit: Maximizing Tax Benefits

Goods and Service Tax (GST) is a comprehensive indirect tax levied on India’s production, distribution, and use of products and services. The Input Tax Credit (ITC) is a way to prevent tax cascades. In layman’s terms, cascading taxes refer to “tax on tax.” The current tax structure prevents the Central Government’s tax credits from being …

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Tax Collected At Source (TCS Tax)
· 7 min read · Tax

Tax Collected At Source (TCS Tax)

Tax collected at source is a type of tax that a buyer has to pay to the seller while they are exchanging goods. The TCS tax is to be paid by the seller, so, they collect it from the buyer of the goods. The TCS rate on sale of goods varies from goods to goods …

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