Cryptocurrency, is a digital asset meant to be used as digital money. This means there is no physical coin or bill. Instead, it is all virtual and online. Bitcoin is a front runner and the most popular cryptocurrency currently. While cryptocurrencies are not likely to substitute traditional currency, they have transformed the way virtually-connected global markets network with each other.
Transfer pricing is the concept where a controlled transaction between two associated enterprises (AEs) is compared with an uncontrolled transaction under the similar circumstances in respect of price or margin. The process of transfer pricing is consist of two analysis i.e. Financial analysis and Economic analysis.
In this article I am going to discuss Taxation of Business Trust in India. Concept of Business Trust was introduced vide Finance Act, 2014. The Finance Act, 2014 has put in place special taxation regime in respect of Business Trust.
Many users get confused regarding online payment of TDS/TCS and same way if there is any outstanding demand against our TAN then how to resolve it. Hence today I come up with this article which wil give you the clarity regarding online payment of TDS and outstanding demand payment. 1. Online TDS/TCS or Demand Payment […]
Accordingly, TDS under section 194C is not applicable on printing material as per customer specification, wherein customer has not supplied any material to contractor and contractor has supplied the final product for a price, which is in the nature of contract for sale.
Taxation of works contract in erstwhile indirect taxes including VAT, CST and Service Tax involved complexities. Since both the element of service and transfer of property in goods is involved in a works contract transaction, there was always a dispute as to the ratio in which it has to be taxed under Service tax and […]
State of Kerala Vs Metro Minerals India (P) Ltd. (Kerala High Court) The transfer of property in goods whether as goods or in some other form involved in the execution of a works contract shall be deemed to have taken place in the State, if the goods are within the State at the time of […]
The present case has again established a clear picture on the interpretation of Section 14A of the Act, with detailed explanation of various cases. It clearly explains that Section 14 of the Act will not apply if no exempt income is received or receivable during the relevant previous year.
The process of preparing and filing of annual return in GSTR 9 for FY 2018-19 under GST has started and there have been a number of doubts arising as to how to reconcile the Input Tax Credit (ITC) under various tables pertaining to the FY 2018-19, because the GSTR 3B filed for 2018-19 contains rectifications […]
Despite passing of almost 3 years since the enactment of GST laws, many mistakes are still being committed by GST tax payers while filing GST returns particularly GSTR3B and GSTR1. These mistakes are generally committed either due to negligence, oversight or due to lack of conceptual clarity on various provisions of the GST Acts and […]
