Understand the tax implications of working abroad for a short period. Learn about the key considerations and avoid any surprises.
This article focuses on the core difference between the earlier #SICA attempt and CODE. What is it that makes the CODE more effective than SICA?
This article looks at the big picture on the quality of the Insolvency Process, that the Code has set rolling, in terms of the quality of results. The initial setbacks did not result in the authorities attempting quick fix solutions to the bane of Indian economy, the unscrupulous promoters who have used every reform to their benefit, facilitated by some professional elements who flourish only on the basis of their skills to give a legal cover to the self promoting activities of the promoters.
Form 16 or 16A are provided by employer to employee as a proof of tax deduction. At the end of the financial year, tax payers file their income tax returns (ITR) from the income tax details provided in form 16 or 16A. On the other side, as a part of e-governance, tax payer is provided 26AS annual statement showing his total TDS deducted during the year. This facility is available on income tax portal www.incometaxindia.gov.in.
The Insolvency and Bankruptcy Code was promulgated in late 2016, with Resolution being the soul of the Code. There are many pillars of the Code, but when it comes to implementation, the main pillar is time bound execution, which we look at in this part.
In terms of Section 2(13) of the CGST Act, 2017, GST audit means the examination of records, returns and other documents maintained or furnished by the registered person under this Act or the rules made thereunder or under any other law for the time being in force to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed
In September, 2017, ROC barred or disqualified around 3,09,614 directors for the five years due to non-compliance of the provision of the Companies Act. After this action the DIN and DSC of all the disqualified directors can’t be used in filing of any document and such director need to resign from all the Companies.
The recently concluded 28th meeting of GST Council has recommended changes in the GST rates on several goods and brought down the GST rates on number of products bringing as many as 88 products in lower tax slab.
Article 366(12) of Constitution defines goods to include all materials, commodities and articles. Constitution (101 Amendment) Act, 2016 inserted in clause 366(26A) definition of services to mean anything other than goods.
Pre-deposit means the deposit of amount of duty (service tax) and penalty pending the disposal of the appeal. According to Section 35F of the Central Excise Act, 1944, any person desirous of appealing against the order shall pending the appeal, deposit the duty demanded or penalty levied thereon.
