Introduction Any large retail trader (goods) falling within the turnover range of Rs. 50-500 crore (or more) would have to comply with the following: ♦ Real time E-invoice instead of tax invoice (B2B, SEZ) ♦ Real time E-invoice – credit note/debit note (B2B, SEZ) ♦ Tax invoice (B2C) ♦ Bill of Supply (B2C & B2B) […]
Tax Information Exchange Agreements (TIEA) are agreements developed by the Organization for Economic Co-operation and Development (OECD). The purpose of the TIEAs was mainly to reduce the harmful tax practices. They also seek to facilitate international cooperation with the help of exchange of information surrounding tax matters such as details about tax evaders who hide money in offshore places/tax havens which fall under banking secrecy jurisdictions such as countries like Cayman Islands, and Argentina etc. British Virgin Islands, Bermuda, Bahamas, Cayman Islands, and Argentina etc.
The income of a non-resident Indian (NRI) earned in India is taxable. Whether a person will be classified as NRI or not will depend on the number of days he or she has stayed in India and the quantum of income earned. Tax on an individual’s income depends on the source of such income and […]
Nirma Ltd Vs C.C.-Jamnagar(prev) (CESTAT Ahmedabad) CESTAT carefully considered the submissions made by both the sides and perused the records. The issue involved in the present case is that whether the amount for which the refund claim was sought for by the appellant is deposit or duty and accordingly, whether the refund is governed by […]
Any communication from Reserve Bank of India emits a strong interest from bank account holders exhibiting a strong faith in its study, reporting, and monitoring capabilities. Its latest emit of report on cyber frauds is no exception. Its reference is given at the end. Let me recall its reference of fraud as under: “‘A deliberate […]
1. BASIC EXEMPTION LIMIT & REBATE Basic exemption limit for Individual and HUF should straight increase to 6.50 lac. No need of Rebate of 12500. So remove Rebate of 87A for Rs. 12500. Please Read 3rd Point for detailed suggestion for taxation of Individuals/ HUF 2. REMOVAL OF NEW REGIME U/S 115BAC Remove New regime […]
In pursuance to the above and in exercise of the powers conferred by Explanation to sub-section (1) of section 120 of the Income-tax Act, 1961 as also section 59 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988), it is hereby ordered that the officers referred to in column (3) of the table hereunder, in the grade of Joint Commissioners of Income-tax shall exercise the powers and perform the functions of the Income-tax Authority, referred to in columns (4) of the table hereunder in consequence to and from the date of the order no. 352 of 2021 dated 30.12.2021 issued from F.No.A-32012/3/2021—Ad.VI and until further orders.
The Institute of Company Secretaries of India 17th January, 2022 Dear Professional Colleague, Subject: New Recognition to Company Secretary under the SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2022 The Institute in furtherance of its continuous endeavours to provide new opportunities to its members has been sending suggestions on various draft rules, regulations, […]
For the benefit of all we as a responsible association request your kind intervention in helping convert the Mobile retailers into Essential Category or for the purpose of Lockdowns treat this trade as Essential and allow to open retail for service during lockdown. This way our retailers shall be allowed to open shops during the lockdowns not only to serve the requirements of community, earn their livelihoods but also to contribute in the building of economy.
On an average an Indian parent run through approx. rupees 1.50 lakh on a child’s education in india. The Indian ed tech industry is worth 2.8 billion. Byju’s is world’s 13th most valuable startup and world’s largest ed tech decacorn with its valuation standing around $21 billion. In preceding seven years it has acquired more […]
