"12 May 2020" Archive - Page 2

Analysis of GST applicability on Directors Remuneration- Part I

Intention of the Government is not to charge GST on services rendered by employees to employer. On the same lines as per Schedule III, clause no 1, of Central Goods and Service tax Act, 2017  Services by an employee to the employer in the course of or in relation to his employment is covered in […]...

Read More

An approach to Virtual Permanent Establishment (VPE) & Taxation of Electronic Commerce Transactions

According to thisVirtual Permanent Establishment (VPE) theory, it is proposed that the taxing nexus for electronic commerce should be “the continuous commercially significant conduit of business activity”, rather than the fixed place of business. The virtual PE approach applies to the jurisdictional criterion for source-based taxation...

Read More

Applicability of Section 50C and Section 56(2)(x) / Section 56(2)(vii) of Income Tax Act, 1961 on Rural agricultural land

Applicability of Section 50C and Section 56(2)(x) / Section 56(2)(vii) of Income Tax Act, 1961 on Rural agricultural land Computation of Capital Gain is many times not free from ambiguity. Further, due care is required in cases of transactions of immovable property for a consideration, which is less than the stamp duty value of such [&hel...

Read More

Tax Audit under Income Tax Act after amendments by Finance Act 2020

Section 44AB, contains provisions of the ‘TAX AUDIT’ under the Income Tax Act 1961. ‘TAX AUDIT’ is an examination of books of accounts of the assessee. The examination is conducted to ensure that the assessee has properly maintained the books of accounts and other records and the tax liability has been computed pr...

Read More

Draft Format Engagement letter & Management representation on Tax Audit

Article contains Draft Format of Engagement letter on Tax Audit and Draft Format of Management Representation letter related to Tax Audit -...

Read More

Income tax calculator FY 2020-2021 & FY 2019-2020

Best Income tax calculator FY 2020-2021 (Covering old & new regime) and FY 2019-2020 In India income tax calculated in accordance with the income tax act, 1961. We have further elaborated the calculation of the income is into the 7 steps are as follows: 1. To Know which income would be taxable in india 2. […]...

Read More

Equalisation Levy- Services Covered, Rates, Payment, Due Date

Logic for the introduction of Equalisation Levy In India an assessee is taxed if that assessee has permanent establishment in India. If the assessee does not have a permanent establishment in India then he would not be taxable in India. Many companies provide digital services to resident of India without being having a permanent establish...

Read More

How to choose between old and new tax regime for F.Y 2020-21

The union budget 2020 has introduced new income tax slabs for individual and HUF taxpayers and it came into effect from April 1, 2020. This gives the option to either continue with the existing tax regime or opt for the new tax regime sans 70 tax exemptions and deductions. Salaried employees, having no business income, […]...

Read More

COVID-19 PANDEMIC: Relaxation on Residential Status under Income Tax Act, 1961

In this article, I have covered the need and relaxations provided by the Central Government on Residential Status in Circular no. 11 dated May 8, 2020. As per the provisions of section 6 of the Income-tax Act, 1961 ‘period of stay’ of an individual is used to determine the residential status of individual taxpayers. Ordinarily, [&hell...

Read More

AGM via VC or OAVM by Companies required to provide E-Voting facility

Holding of Annual General Meeting (AGM) Through Video Conferencing (VC) or Other Audio Visual Means (OAVM) Companies Which Are Required To Provide The Facility of E-Voting Under The Act, or Any Other Company Which Has Opted For Such Facility Applicability of General Circular No. 20 /2020 dated May 05, 2020 General Circular No. 20/ 2020 [&...

Read More

Search Posts by Date

February 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728