Section 194J of Income Tax Act, 1961 Every person other than individual/HUF who are not required to do tax audit in preceding year, who is responsible for paying to a resident any sum by ways of :- A. Fees for Professional fees or B. Fees for technical services or C. Remuneration paid to directors excluding […]
Learn about the 9 new big income tax reliefs for 2021. From PAN Aadhar linking to Section 54 LTCG investment, stay up to date with the latest tax changes.
The FSSAI on December 18, 2020, has issued a Notification regarding the revised guidelines for Food Business Annual Return Filing. Now the Important Announcement is that Food Safety Compliance System (FoSCoS – https://foscos.fssai.gov.in) is operational pan-India w.e.f 1st November 2020 to replace the existing FLRS portal.
Impact of Notification No. 03/2021- Integrated Tax dated 2nd June, 2021 on the business As we are aware that, in terms of Notification no.10/2017-IT(R) dated 28.06.2017 in case of import of service, the service recipient is liable to pay GST under Reverse Charge Mechanism. Section 2(11) of the IGST Act, 2017 define Import of Service […]
The Finance Act, 2021 has enacted special provisions namely Section 206AB and Section 206CCA, for deduction and collection of tax at source applicable to deductees who were non-filers of income tax returns, effective from 1st July 2021. While Section 206AB specifies the rate of deduction of tax applicable to a person who has been defined […]
Hello friends, here we discussed Section 9B, Section 45(4), & Section 48 of the Income Tax Act SECTION 9B OF INCOME TAX ACT Finance Act 2021, introduced a new section, section 9B under income tax act which specifies the provision related to transfer of Capital Assets or stock in trade on Reconstitution or Dissolution of […]
Recently, a friend of mine approached me saying that he wants to close his company as he has never started any operations in that company and does not have any intention to do so. “When was your company incorporated?” I asked. “Five months back.” He answered. “You need to wait for at least one year […]
There have been news reports that Cairn Energy has seized/ frozen State owned property of Government of India in Paris. However, Govt. of India has not received any notice , order or communication , in this regard, from any French Court.
Manual > Creation, Saving, Payment of Taxes & Filing of Form GSTR-3B Return How can I create, save, pay taxes and file Form GSTR-3B return? Form GSTR-3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for a particular tax period and discharge these […]
Form GSTR-3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for a particular tax period and discharge these liabilities. A normal taxpayer is required to file Form GSTR-3B returns for every tax period.
