Due to COVID-19 pandemic and challenges faced by taxpayers, Government has extended date for GST filings, return lower or nil Interest, Late fee & Penalty for Regular & Composite Taxpayers. I have prepared an article regarding various changes in Goods & Service Tax. This article provides summary of major changes from the inception of Lock […]
Article contains Procedure for Splitting of Share Certificate, Format of Request Letter for Splitting of Share Certificate, Format of Board Resolution for Splitting of Share Certificate and Format of Share Certificate split in lieu of Original Share Certificate. What is the procedure if a shareholder wants to split his share certificate into two share certificates […]
Explore IND AS 32: Financial Instruments (Presentation) and understand the contractual nature of financial assets and liabilities.
All about TCS on sale of Goods [newly inserted sub section 1H in Section 206C] Tax Collected at Source (TCS) is the tax payable by a seller which he collects from the buyer at the time of sale. The rate of TCS is different for goods specified under different categories. Section 206C of the Income […]
Wherever the company undertakes the CSR activity through a third party / NGO, it is advised that all such companies should obtain an Independent Practitioner’s Report on Utilisation of such CSR Funds from the auditor / CA in practice of the third party / NGO, to whom the funds are given by the Company for implementing CSR activity.
Once R&D facility has been recognized by competent authority, then deductions provided u/s 35(2AB) cannot be denied, merely for the reason that approval of expenditure for impugned year in prescribed form has not been received from competent authority.
DEFINITIONS RESIDENT & NON- RESIDENT Section 2 (v): Person Resident in India Means— (i) a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include— (A) a person who has gone out of India or who […]
The government has provided Rs. 300000/- crores as collateral free automatic loan, due to Covid 19 Situation to get the economy back on track. Hence, government has given the opportunity to businesses by providing them emergency funds with 100% credit guarantee by government. The government has given the clarifications regarding the aforesaid facilities. The government […]
The assessee company was in the business of Sale and Service of CCTV cameras and other security equipment’s. Total receipts for the year under consideration was Rs. 3,54,30,497/- and still they have not filed return under income tax.
Budget 2020 proposed by Finance Minister Ms. Nirmala Sitharaman can make your dream to study overseas or enjoy an exotic holiday abroad more costlier. Reason being new provisions to collect TCS (Tax Collected at Source) introduced for from Year 2020-21 and onwards. This Articles deals with the various issues emerging out of the said proposal. […]
