GST registration is a simple online process. However, it get’s rejected, the most common reason of rejection/objection is defect in proof of principal place of business. This article analyses and explains the admissible proof of place of business for GST registration. As per GST REG-01 PART B of CGST Rules, 2017 read with Rule 8 [&helli...

Who is responsible to deduct tax u/s 194H? Any person, (other than individual or a Hindu undivided family) who is responsible for paying, to a resident, any income by way of commission (not being insurance commission referred to in section 194D) or brokerage, shall, deduct income-tax thereon....

1) Who is responsible to deduct tax under section 194G of Income Tax Act, 1961? Any person responsible for paying any income by way of commission, remuneration or prize (by whatever name called) on stocking, distributing, purchasing or selling lottery tickets, shall be responsible to deduct tax at source. 2) When to Deduct TDS under [&hel...

Section 194F TDS on Payments on account of repurchase of units by Mutual Fund or Unit Trust of India (UTI) 1) Who is responsible to deduct tax under section 194F of Income Tax Act, 1961? The person responsible for paying to any person any amount referred to in section 80CCB. 2) When to Deduct TDS […]...

1) Who is responsible to deduct tax under section 194EE of Income Tax Act, 1961? The person responsible for paying to any person any amount standing to the credit of such person under National Savings Scheme (to which section 80CCA was applicable) together with interest accrued thereon, shall deduct income-tax thereon on such amount at [&...

1) Who is responsible to deduct tax under section 194E of Income Tax Act, 1961? Any person responsible for making following payment shall deduct tax at source:- 2) When to Deduct TDS under Section 194E? Tax is to be deducted at the time of credit of such income to the account of the payee or […]...

In 43rd GST Council meeting held as on 28th May 2021, council has declared an Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns. The same is notified through Notification No. 19/2021 – Central Tax dated 1st June 2021. The scheme is wide enough to cover the tax period from 1st […]...

Taxability on transfer of Capital Assets/Stock-in-trade from specified entity to specified person The Finance Act 2021, has inserted Section 9B, Section 48(iii) and substituted section 45(4) of the Income Tax Act. The deeming provisions shall be applicable from Assessment Year 2021-22. For the purpose of this article, the term specified p...

One of the first step to become an entrepreneur is to incorporate a private company or a LLP. But how should one decide on whether to go with a Private Company or a LLP? For now, let us assume you have incorporated a private company. But does the process ends there? Well No! The process […]...