Manshi Baid

TDS defaults when amount is Payable to a Resident

Income Tax - In my earlier article I have made a discussion about the disallowance when the amount is payable to a non-resident /foreign company but TDS is not deducted by the payer . Section 40(a)(ia) deals with the situation when the amount is payable to a resident . Hereon also we will discuss the complete scenario in parts to have a better underst...

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TDS default on Payment of any Nature other Then Salary, to A Non-Resident / Foreign Company

Income Tax - In this article, I am going to have a discussion on Section 40(a)(i) of the Income Tax Act, 1961. Which deals with disallowance of certain business expenditure in case of TDS default is made by the Payer at the time of making payments to a non-resident or foreign company. ...

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F Form Under Rajashthan VAT & Central CST Act, 1956

Income Tax - Section 6A of the Central Sales Tax Act, 1956 provides that in case the goods are transferred by a dealer from the state of Rajasthan to his another place of business outside the state of Rajasthan or to his principal or his agent outside the state of Rajasthan then he is not required to pay tax on transfer of such goods outside the terri...

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Analysis Of Declaration Form VAT 15 Under Rajasthan VAT Rules

Income Tax - In this article we will discuss the declaration forms that are available under RVAT Act read with Rajasthan Value Added Tax Rules, 2006 other than VAT 47 and VAT 49, as these declaration forms has already been discussed in detail in another separate article ...

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Section 115JB OF Income Tax Act, 1961(After Budget 2016)

Income Tax - Section 115JB is nothing but the Minimum Tax that a company is required to pay. This section provides that in case the tax payable by a company is less than 18.5 % of its books profit in any assessment year beginning from 01.04.2012, then such book profit will be assumed to be the income of the company and tax payable by the company durin...

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Recent Posts in "Manshi Baid"

TDS defaults when amount is Payable to a Resident

In my earlier article I have made a discussion about the disallowance when the amount is payable to a non-resident /foreign company but TDS is not deducted by the payer . Section 40(a)(ia) deals with the situation when the amount is payable to a resident . Hereon also we will discuss the complete scenario in parts to have a better underst...

Read More
Posted Under: Income Tax |

TDS default on Payment of any Nature other Then Salary, to A Non-Resident / Foreign Company

In this article, I am going to have a discussion on Section 40(a)(i) of the Income Tax Act, 1961. Which deals with disallowance of certain business expenditure in case of TDS default is made by the Payer at the time of making payments to a non-resident or foreign company. ...

Read More
Posted Under: Income Tax |

F Form Under Rajashthan VAT & Central CST Act, 1956

Section 6A of the Central Sales Tax Act, 1956 provides that in case the goods are transferred by a dealer from the state of Rajasthan to his another place of business outside the state of Rajasthan or to his principal or his agent outside the state of Rajasthan then he is not required to pay tax on transfer of such goods outside the terri...

Read More
Posted Under: Income Tax |

Analysis Of Declaration Form VAT 15 Under Rajasthan VAT Rules

In this article we will discuss the declaration forms that are available under RVAT Act read with Rajasthan Value Added Tax Rules, 2006 other than VAT 47 and VAT 49, as these declaration forms has already been discussed in detail in another separate article ...

Read More
Posted Under: Income Tax |

Section 115JB OF Income Tax Act, 1961(After Budget 2016)

Section 115JB is nothing but the Minimum Tax that a company is required to pay. This section provides that in case the tax payable by a company is less than 18.5 % of its books profit in any assessment year beginning from 01.04.2012, then such book profit will be assumed to be the income of the company and tax payable by the company durin...

Read More
Posted Under: Income Tax |

Understanding VAT 47 and VAT 49 under RVAT Act, 2006

Provisions related to the documents including the road permits to be carried with the goods in movement from outside the state or to outside the state are provided under Sec 76 to Sec 79 of RVAT Act 2003. Going through these sections read with Rule 52 to 57 of Rajasthan Value Added Tax Rules 2006 will clear in our mind the complete scenar...

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Posted Under: Income Tax |

Analysis of Section 44AE of The Income Tax Act 1961

This section applies to all types of assesses whether resident or non-resident who are engaged in the business of plying , Hiring or leasing of goods carriages and owns not more than 10 goods carriages at any time during the financial year. Here the important point that is to be noted Is that the ownership of the good carriages should be...

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Posted Under: Income Tax |

Section 188 – Related Party Transactions

Manshi Baid The definition of Related Party is given in Clause (76) of section 2 of Companies Act 2013 . This section provides that a related party for a company are :- 1.      A director or his relative 2.      A key managerial personnel or his relative 3.      A firm in which director , manager or […]...

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Posted Under: Income Tax |

Steps to Form a Company Under New Companies Act, 2013

Incorporation of Company- Under Section 7 Of Companies Act 2013 read with the Companies (Incorporation ) Rules 2014. For incorporation of a company following steps is required to be followed:-...

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Posted Under: Income Tax |

Formation of One Person Company under Companies Act, 2013

In case of One Person Company’s Memorandum and Article of Association should indicate the name of the person incorporating the company as well as the name of another person also who will become the member of the company in the event of subscriber’s death or incapacity i.s nominee of the company. ...

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Posted Under: Income Tax |
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