"21 April 2021" Archive - Page 3

State wise Synopsis on Intra-State E-Way Bill

Here is the summarized Statewise list of Intra state E-way bill. Table Provides Name of the State, Intra-State E-Way Bill Threshold limit (In Rs.) and Date or Official Press release etc vide which Intra-State E-Way Bill Threshold limit is made applicable. State wise Intra-State E-Way Bill Threshold limit (In Rs.) S.No State Threshold limi...

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SC Grants stay to ‘Tecnimont’ subject to further deposit of Rs. 5 Crore

State of Punjab & Ors. Vs Tecnimont Pvt. Ltd. (Supreme Court of India)

State of Punjab & Ors. Vs Tecnimont Pvt. Ltd. (Supreme Court) Heard Mr. Karan Bharihoke, learned Advocate for State of Punjab and Mr. Jagmohan Bansal, learned counsel for the respondent on caveat. Considering the peculiar facts and circumstances of the case on record, in our view, the ends of justice would be met if the […]...

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Legal Compliances for Software Companies in India

Software Companies: – Software Companies are companies that deal with the maintenance, development and/or publication of software that are either cloud based or maintenance/license (on premise) based. Microsoft, Cisco etc. There are two types of software company: – 1. Service or Consulting Based Software Company, i.e., TCS, Wipro ...

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No TDS on commission paid to non-resident agent for effecting exports

Device Driven (India) Pvt. Ltd. Vs CIT (Kerala High Court)

Device Driven (India) Pvt. Ltd. Vs CIT (Kerala High Court) No TDS on commission paid to non-resident agent for effecting exports as it was not taxable under Income Tax Act Conclusion: Services rendered for effecting exports within India by assessee-company to foreign buyers would not attract income tax since the income was derived from th...

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Relax GST Compliance dates, due to Outbreak of Covid 19

The Western Maharashtra Tax Practitioners’ Association has written a letter to FM and expected  Urgent Relaxation in GST Compliance due to Outbreak of Covid19 again in whole country.They requested that Due Dates For March 2021 Of All GST Returns be extended, OTP Based GST Return Filing And Other Compliance, Should Be Allowed For All Ki...

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Why PAN (Permanent Account Number)

First question must come to your mind that is why there is PAN. As you know almost under every taxation law person is identified with a unique number or code allotted under particular taxation law to identify the person and in the same manner under Income-tax law person is identified with PAN which is income […]...

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Forward Charge And Reverse Charge Concept Under GST

Under GST law, generally supplier (seller of goods or services or both) collects tax from recipient (buyer/ customer of goods or service or both) and pay to the Government (net of ITC) (but ultimately GST is borne by end customer or consumer that is why it is called indirect tax) this mechanism is known as […]...

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Everything About CMA Exam 2021: Exam Dates, Application Form, Eligibility, Syllabus, Results

Exams for ICWAI or courses or CMA Foundation, intermediate and final examinations are announced. The application deadline, which was on January 30, has been extended to February 10. The CMA Foundation exams will take place on June 12. On the other hand, the June intermediate and end exams will take place from 11 June to […]...

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Liability extinguishment after approval of Resolution Plan is necessary: SC

That once a resolution plan is duly approved by the Adjudicating Authority under subsection (1) of Section 31, the claims as provided in the resolution plan shall stand frozen and will be binding on the Corporate Debtor and its employees, members, creditors, including the Central Government, any State Government or any local authority, gu...

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Your Family Members Can Help You Save Tax; Here’s How

Sure, it’s an investor’s duty to pay their taxes in full and in a timely manner, but they also have an option to save on tax. Nobody likes the extra influx of cash from their pockets. The government encourages individuals to invest in tax-saving investments by offering them tax benefits in form of tax deductions […]...

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June 2021