In this article we have discussed step by step procedure to upload online quarterly TDS/TCS statements on the e-Filing portal with effect from 1st May, 2016. In this article we discussed 1. Pre-Requisites for Uploading TDS Statement 2. How to Upload TDS/TCS Statement and 3. How to view Filed TDS / TCS Statement.
Among the busiest of professionals, doctors have little time to learn about the latest tax law. Tax planning is often neglected in the crush of other obligations. Being India’s Top 10s income earners, they have need to give more attention to their financial planning and taxation. Here we are providing some necessary documentation and legal requirements for doctors in India as necessary to follow to avoid unnecessary payment of tax, interest & penalty.
CBIC notifies GST Rule 67A which specifies Manner of furnishing of return or details of outward supplies (Form GSTR 3B) by short messaging service (SMS) facility. Central Goods and Services Tax (Eighth Amendment) Rules, 2020. Notification No. 58/2020 – Central Tax Dated: 1st July, 2020. Filing of Nil GSTR-1 by SMS Manner of furnishing of […]
On GST Day, 2020 FM highlighted that GST has come a long way in simplifying the GST Tax Administration based on feedback from stakeholders. GST has been instrumental in Breaking Barriers to build an AatmaNirbhar Bharat and taking forward the motto of One Nation One Tax One Market.
ICAI issued revised 12th edition of Code of Ethics which has come into effect from 1st July, 2020. Code of Ethics are in 3 Volumes. Due to the prevailing situation due to Covid-19, few provisions of Volume-I of Code of Ethics, 2020 are been deferred till further notification. Ethical Standards Board The Institute of Chartered […]
As per new classification and procedure for registration of MSMEs, the portal of Ministry of MSME https://udyamregistration.gov.in is operational from today. Enterprises and entrpreneurs can register on it. A very comprehensive portal has been launched today by the M/O MSME for registration of MSMEs. The portal named https://udyamregistration.gov.in has been made entirely in house by […]
RBI decided to permit banks to reckon the funds infused by the promoters in their MSME units through loans availed under the captioned CGTMSE scheme as equity/quasi equity from the promoters for debt-equity computation. Reserve Bank of India RBI/2020-21/09 DoR.BP.BC.No.01/21.04.048/2020-21 Dated: July 1, 2020 All Scheduled Commercial Banks (including Scheduled RRBs) Dear Sir/Madam, Distressed Assets […]
Uttar Pradesh Water Supply and Sanitation Mission Vs ACIT (ITAT Lucknow) Passing ex-parte order when assessee could not attend the proceedings due to lockdown is not justified in law. Since Ministry of Home Affairs, Government of India, vide letter dated 24th March, 2020 had issued directions for stopping of the work of all offices for […]
Withholding taxes u/s 195 in respect of transactions with Non-Residents has always been a bone of contention between Assessee and tax authorities. Though liability for deduction of TDS is clear in respect of some transactions like royalties, fees for technical services, interest etc.,
Recently CBDT has prescribed 4 more documents acceptable as ‘Proof of date of birth’ for PAN Application vide Notification No. 38/2015, Dated: April 10, 2015. After Considering this and earlier Notification we have compiled List of Documents acceptable as proof of identity, proof of address and proof of date of birth as per Rule 114 of Income Tax Rules, 1962, for individual and HUF applicants, Company, Firms, LLP, Trust etc.
