Applicability of GST on Reverse Charge Mechanism for Import of Service GST is Levy in accordance with the concept of supply. According to section 7(1) (b) of CGST Act’ 2017 supply includes “import of services” for a consideration whether or not in the course or furtherance of business. According to section 7 (4) of IGST […]
The design of the Information systems architecture and acquisition of technology are important aspects of an entity business strategy. Choice regarding technology can be critical to achieving entity objectives. Technology decisions should be a input to the strategy process helping to define innovations and seeking to increase revenue rather than merely an after the fact […]
Mobile Banking is a banking service that enables its customers to carry out financial transactions remotely via a mobile device, such as a smartphone or a tablet. It is one of Green Banking’s important products and is easy and convenient to its customers. Mobile banking for 24*7 is available.
Guidelines for Formation of Multi-disciplinary Partnership as per the Chartered Accountants Act, 1949 Introduction The complexity of business has increased manifolds and reliance on technology has resulted in a greater demand for specialists. There has been a swift increase in cross border movement of goods and services. The complex supply chains, ownership structures and transactions […]
Sections in Companies Act 2013 which are Punishable in nature (Both Compoundable and Non-Compoundable) Offenses under Companies Act 2013 are categorized under following categories:- 1. Offenses which are Liable to Penalty (They are Adjudicated by ROC’s themselves in an IAM mechanism) {https://taxguru.in/company-law/sections-companies-act-penal-provisions-subjected-in-house-adjudication-framework.html} 2. Offenses which are Punishable in Nature and can be Compoundable offense or […]
The income tax laws offer a presumptive scheme of taxation for certain professionals. There are lots of doubts about what is the exact scheme and whether every professional can opt for it. I intend to explain the presumptive scheme of taxation for professional in this article. What is the presumptive scheme for taxation for professionals […]
Notice U/S 143(2) Not Valid if Return Filed in Response to Notice U/S 148 Not Recognized by AO. Draft Written Submissions Written submission before the Hon’ble CIT(Appeals), XXXX bad in the case of Sh. XXXXXXXXXXX, XXXXXXX for the A.Yr. 2011-12. The assesse is an individual. He is doing business of trading of building material during […]
Non Baking Finance Company plays a important role in the Indian economy as it provides Loan to Startup, Entrepreneur to run their business. Mainly NBFC Entity registered in following three type of entity:- Asset Finance Company (AFC) : An AFC is a company which is a financial institution carrying on as its principal business the […]
Issue of TDS Certificate Every person deducting tax at source is required as per Section 203 of Income Tax Act, 1961 to furnish a certificate to the payee to the effect that tax has been deducted along with certain other particulars. This certificate is usually called the TDS certificate. Even the banks deducting tax at […]
Forms for quarterly statement of tax deduction – Section 200(3) of Income Tax Act, 1961 – Forms & Time Limit for Submitting Quarterly TDS Returns Any person deducting any sum in accordance with the foregoing provisions of this Chapter shall pay within the prescribed time, the sum so deducted to the credit of the Central […]
