Aadhaar Authentication – Selection as Yes Q.1 I have opted ‘Yes’ for Aadhaar authentication while registering on the GST Portal. What will happen next? Ans: Once you have opted ‘Yes’ for Aadhaar authentication while registering on the GST Portal and registration application is submitted, an authentication link will be shared on mobile numbers and e-mail […]
No wonder that modern day businesses are always keen on coming up with new and innovative methods and strategies to scale up faster effectively and efficiently, however, with the fast advent of new technologies and democratization of the world wide web right since 1990’s has given birth to many alternative models of operations, including the concept of going Asset Light.
1. The compulsory e-invoicing of business-to-business transactions of companies with more than Rs 500 crore sales kicks in from 01st October 2020. The businesses were reportedly not ready to be seen by the tax officials and thus they had been given a chance to fill tax and save from penalty within 30 days. 2. The […]
Any Business should base in a city where they have the best relationships with the business environment. This includes relationships with talent, suppliers, buyers, and investors. Let us understand briefly about some states in India for starting a new venture: – # Capital State of India i.e. New Delhi: – New Delhi is the capital […]
In case, either the taxable person is no longer liable to be registered under Goods and Services Tax (GST) or the proper officer believes that the registration is liable to be cancelled. Then, the proper officer shall issue an order cancelling the GST registration in Form GST REG-19. Thus, in nut-shell, whenever the GST registration […]
DCIT Vs Edelweiss Tokio Life Insurance Ltd. (ITAT Mumbai) During assessment proceedings, it transpired that the assessee earned dividend income of Rs.17.92 Lacs and claimed the same to be exempt u/s.10(34). However, the Ld. Assessing Officer opined that since the income in case of insurance business was to be computed in terms of provisions of […]
The issue under consideration is whether the deduction claimed u/s 80HH, 80I and 80IA for production, processing, transmission and distribution of various gases is justified in law?
The issue under consideration is whether the CIT(A) is correct in confirming an addition of by treating sale of land as business income against the appellant’s claim as “Long Term Capital Gain”?
Section 80DDB Section 80DDB of the Income Tax Act allows you to save tax by claiming medical expenditures incurred as a deduction from income before levy of tax. You can claim this deduction if these two conditions are satisfied then one can claim a maximum deduction of Rs 50,000 in a financial year for the […]
In accordance with Prime Minister Shri Narendra Modi’s vision for augmenting people’s participation and transparency in the governance, Ministry of Shipping has issued the draft of Coastal Shipping Bill, 2020 for suggestions from the stakeholders and general public.
