Goods and Services Tax : (a) integrated tax shall first be utilised towards payment of integrated tax and the amount remaining, if any, may be utilised tow...
Goods and Services Tax : Form GSTR 3B is the first return of GST regime to be filed by registered dealer and not composition dealer. This online return per...
Goods and Services Tax : The GST R1 return is again a most important document which shall be generated through invoice. All the key components of GST R1 sh...
Goods and Services Tax : Composition scheme should be opted by only those manufacturers or traders who sells directly to the consumers. Composition scheme ...
Goods and Services Tax : Any person who is in reverse charge is the happiest man or woman. There life is in good shape. They can take holidays. They can sp...
Vide Budget 2017consequences of late filing of return has been changed drastically. It basically forces the assessee to file the return of income in time. It allows late filing of return albiet with a fees. Even the time of filing of revised return has been reduced by 1 year.
Finance bill 2017 has reduced the lowest slab rate to 5% from 10%. This is a welcome step. The assessee shall get maximum benefit of Rs. 12,500 across all levels of income.
Very useful for students appearing in CA, CS, CMA, UPSC and other competitive exams. 1. Accelerate your mind before the start. … 2. Read the questions cautiously and then answer. … 3. Do not try to solve everything in one go. … 4. Take half to one minute breaks if possible. … 5. Learn as […]
Section 139(3) If a person has sustained a loss under the head Profits and gains of business or profession or under the head Capital Gains and claims that such loss should be carried forward under section 72 or section 73 or section 74 or section 74A, then he may furnish a return of loss within the time prescribed under section 139(1) and all provisions of the Income-tax Act shall apply as if it were a return furnished under section 139(1).
We have analysed following two entries relating to Excise Act 1944 Union List. Entry No 84 Duties of excise on tobacco and other goods manufactured or produced in India except alcoholic liquors for human consumption, Opium, Narcotics but including medicinal and toilet preparations containing alcoholic liquors, Opium, Narcotics. State List. Entry No 51 Duties of […]
Self Assessment Tax alongwith interest is required to be deposited before furnishing the return of income and the proof of such payment should be attached with the return of income. Note 1: Where the amount paid by the assessee under section 140A is less than the amount required to be paid under section 140A, then […]
Understand the concept of belated return explained with practical examples. Learn about the time limits and regulations for filing a belated return.
The company which is incorporated outside India is a Foreign company. Residential status of foreign company shall depend upon place of effective management. Place of effective management to mean a place where key management and commercial decisions that are necessary for the conduct of the business of an entity as a whole are, in substance […]
To win pending cases in tax laws. Indian Govt. has carried out retrospective amendment in tax laws from very inception of tax laws i.e. 1962. The retrospective amendment should be carried out when the cases are pending in Courts. When assessee takes advantages of loopholes in tax laws and win the cases in lower courts […]
Permanent account number means a number which the Assessing Officer may allot to any person for the purpose of identification and includes a permanent account number having ten alphanumeric characters and issued in the form of a laminated card. [Form 49A].
