As per Budget 2020, TDS under section 194J at the rate of 10% is applicable on the professional Charges , royalty, remuneration or fees to director, fees for not carrying out any work , fees for not sharing any know how or patent or copyright and in case of Technical Charges, TDS is applicable at the rate of 2% under section 194J of the Income Tax Act , 1961.
Prime Minister Narendra Modi started the Startup India Campaign in 2016 to boost entrepreneurship in India. The action plan aimed at financing for startups, simplifying the incorporation of startup process and grant of various tax exemptions and other benefits to startups. In line with this initiative, the government launched a policy framework, Startup India Action Plan. Startup […]
The Central Government vide CGST Notification No. 68/2019,69/2019,70/2019, 72/2019, has amended the Central Goods and Services Tax Rules, 2017, thereby introducing the Central Goods and Services Tax (Eighth Amendment) Rules, 2019. These rules have been brought to implement the provisions of Electronic Invoicing. ‘E-invoicing’ or ‘electronic invoicing’ is a system in which the invoices are […]
Q.1 To whom the ordinance is applicable?A1 .The Ordinance is applicable to all persons receiving or soliciting deposits, working in any legal capacity, namely:(i) Individual or group of individuals(ii) A proprietorship concern(iii) A partnership firm (Registered or not )(iv) A Limited Liability Partnership Firm(v) A Company(vi) A trust (Public or Private Trust, whether Registered or not)(vii) A cooperative society or multi state cooperative society(viii) Any other arrangement of whatsoever nature
