One of the best ways to save tax is to know the right thing to do & proceed accordingly. There could be a number of ways to save tax as a freelancer. Here are the most important & common things one must consider if they are working as a freelancer in India. I. Using the […]
Under the ITC concept, the taxpayer (GST Registered person) is eligible to reduce his/her tax liability which has already been paid on inputs from tax payable on outward supplies. Thus, it is important to know about those specific issues that cause a number of companies to lose huge Tax Credit while filing their GST Returns.
Maharashtra Profession tax OTPT Scheme-Summary and Practical Guide The Government Of Maharashtra vide Notification No. PFT.1218/C.R.52/Taxation-3 makes available an optional scheme for the payment of profession tax, in advance, for an enrolled person, under the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975. Summary of the Scheme and Practical Aspects as under […]
Capital gain on transfer of agriculture land shall be chargeable to tax only if such agriculture land situated in an urban area. The land will be considered as agricultural land in an urban area if it satisfies the following conditions : ♦ Any area which is in the jurisdiction of a municipality or cantonment board […]
Recently hundreds of show cause notices were issued to equipment manufacturers alleging that drawing/designs supplied to them by the principal manufacturers are additional considerations received by such manufacturers and value of designs/drawings are required to be included in the assessment value of the goods supplied. Such notices threaten the very survival of such manufacturers who […]
Procedure for Declaration and payment of Interim Dividend by a Private Limited Company Meaning of Interim Dividend (Section-123):- The Board of Directors of a company may declare interim dividend during any financial year or at any time during the period from closure of financial year till holding of the annual general meeting. An interim dividend […]
The person making payment/ remittance to non – resident holds the responsibility to furnish an undertaking (in form 15CA) attested by a Chartered Accountants Certificate in Form 15CB. So when a person has to make any payment or remit any money to non-resident, the bank will have to verify the payment of tax and act accordingly.
Article provides solution for Common Java Validation Error Resolution While Preparing Income Tax Return, which we are facing nowadays. 1. Detail of Error: – Enter the source Resolution Schedule Part A General Do you want to claim the benefit u/s 115H (Applicable to Resident) Choose No Figure 1 2. Detail of Error: – Please […]
Which category of persons can claim exemption from GST registration under new notification? Any person, who is engaged in exclusive supply of goods and whose aggregate turnover in the financial year does not exceed forty lakh rupees
