Any entity making payment to third party is required to deduct tax at source from these payments and deposit the same at banks who are authorized to collect taxes on behalf of Government. They are also required to furnish TDS returns and challan details to Income Tax Department. TDS is basically a part of income […]
SLUMP SALE AND ITS IMPLICATIONS A slump sale for income tax purposes would be one where an undertaking is sold without considering the individual values of the assets or liabilities contained within the undertaking. Tax Effect in Slump Sale The gain or loss resulting out of a slump sale shall be a Capital Gain/Loss under […]
Cryptocurrencies have gained a lot of traction in recent times in India which is home to one of the largest markets for cryptocurrencies in the world. According to a report, the country currently ranks second in cryptocurrency adoption.
Discover the revolutionary concept of e-invoicing and its impact on indirect taxation in India. Learn how this new reform is improving the invoicing process under the Goods and Services Tax Act.
Dhanlaxmi Chandu Vs Town Planning and Acquisition Officer (Bombay High Court) Facts- It is alleged by Samina Arif Khan @ Dhanlaxmi Chandrakant Devrukhkar (‘Samina’) to place the Intervention Application for urgent hearing and orders since according to Samina, Advocate Shri Rohan Barge and Notary – Shri S.M. Naqvi alongwith an unknown person have filed Writ […]
Registration of Gift Deed A very common and frequent question running in the mind of taxpayers is the gift deed needs to be registered. In this part, you can gain knowledge about various provisions relating to the registration of gift deed. Property transfers as gift are governed by the Transfer of Property Act, 1882. A […]
This Article contains compliance requirement under various statutory Act for which due date falls in the month of March 2022. The due dates are very crucial for compliances of statutory provision under various act in order to avoid penalty, interest or late fee Compliance under Income Tax Act ♦ Due date for furnishing of challan-cum-statement […]
My Dear Professional Colleagues, Today while communicating with you for the first time through these pages, I consider it an absolute honour and pride to serve my beloved institute as the 70th President of The Institute of Chartered Accountants of India (ICAI), joining the league of leaders and working towards the development of our nation […]
1. GST Returns -Questionnaire Based NIL Filing of GSTR1: 2 steps filing -Changes in GSTR-3B to capture 9(5) supplies e-Commerce -Mandatory HSN codes in table 12 of GSTR-1 -e —invoice JSON download/API for recipient/Supplier – Part A -Improvement in filing process of GSTR-4 (Annual), some alert for table 6 to avoid “0” value. 2. GST […]
Understanding the complexities of availing ITC under GST. Discover the challenges and changes in the process of claiming input tax credit.
