Asessee-bank had not deducted TDS under section 194A in respect of customers who had provided Form No. 15G and 15H as the prime responsibility relating to TDS deduction u/s 201 was of the recipient assessee to pay the tax directly once they filed From No. 15G/15H and any tax liability would be held as pending in recipient assessee’s cases and hence Section 201 of the Act could not be invoked as it was a recovery provision.
A person may misplace a GST Invoice that was issued or may require additional copies of the same invoice. In such cases, he faces the need to contact the supplier repeatedly. QR Codes in invoice solves this issue. By scanning the QR Code, the GST Invoice can be generated any number of times.
Confused about the new income tax regime? Find out whether to opt for the old or new scheme and understand the tax slabs and rates.
As the Financial Year is ending, below five actions are need to be taken on immediate basis for compliance under GST:- 1. New Invoice series Ensure to create new/ unique invoice series. The same should be consecutive and unique for a financial year. Also, multiple invoice series for various branches/segments/Products & Services can be generated […]
Since teaching of Indian Classical Music was within the field of ‘education’ and the activities of the studio were carried on in order to achieve the main object of the Trust, the same could not be construed as a business and the proviso to section 2(15) did not apply on the same.
Passionate entrepreneurs aim to build practical unique solutions for customers through their start-up venture. The business has to focus on its potential customer base, its USP and market situation. At the same time Entrepreneur should have or they should hire or outsource someone who has a good understanding about the basic laws of the land, rules, regulations that are applicable and various government schemes that are drawn for the welfare of the budding businesses and their smooth functioning.
SEBI Press Release – SEBI Board Meeting (March 25, 2021) The SEBI Board met on March 25, 2021 where it, inter-alia, took the following decisions: Review of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 SEBI Board approved several amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, […]
The Companies (Accounts) Amendment Rules, 2021: MCA has vide its notification dated 24.03.2021, notified the Companies (Accounts) Amendment Rules, 2021. Effective from the 1st day of April, 2021. The analysis of amendment notification dated 24.03.2021 is as follows: Amendment to Rule 3: Post-Amendment, in Rule 3, in sub-rule (1) the proviso shall be inserted: (1) […]
