FAQs on How to Add Prescribed Payment Modes on Income Tax Website Q. 1 Why do I need to provide details of my payment modes? Ans. As per section 269SU of the Income Tax Act, 1961, every person, carrying on business, shall provide facility for accepting payment through prescribed electronic modes, in addition to the […]
FAQs on How to Register a Company for e-Filing on Income Tax Website Q. 1 Why do I need to register as Company? Ans. Registration service helps in creating a user account in the e-Filing Portal. A Company has to be registered in the portal to avail services such as filing of ITR, tax deducted […]
Learn how to convert a proprietorship business to a private limited company. Understand the legal and procedural aspects of the conversion process.
India exports a lot of commodities outside the country and is recognised extensively in the world market for the products that it exports to foreign markets and countries. It is very well-known for exporting food items that are produced in the country and is a masterpiece of a distinct region in India. FSSAI, being the […]
The Hon’ble ITAT, Ahmedabad in Swatiben Anilbhai Shah v. DCIT [Income Tax Appeal Nos. 1513, 1514 and 1515/Ahd/2019 decided on January 29, 2021] held that where assessee purchased shares and recorded them in investment portfolio and it was justified that the intention of the assessee was to purchase the shares as capital asset, then income […]
Name of the Scheme Scheme for financial assistance by way of Capital Subsidy and Credit linked Interest Subsidy to Micro, Small and Medium Enterprises. GR No : Govt. of Gujarat, Industry & Mines Dept, Resolution No: SSI/102020/332278/CH Date : 01/09/2020 Operative Period: From 07/08/2020 to 06/08/2025 Who will be eligible? 1) The Enterprise registered as […]
GST – Goods and Simple Tax. That is how Late Finance Minister Arun Jaitley defined GST when it was rolled out in the parliament at 12 midnight on 30 June 2020. At the heart of this reform was the objective to replace the decades old multiple tax based indirect tax structure and to make tax […]
Welcome Announcements by Finance Minister to boost COVID affected sectors: Healthcare, Tourism, Exports, Job Creation In a bid to boost the economy battered by the second wave of COVID-19, Finance Minister Smt. Nirmala Sitharaman, on 28th June, 2021, announced a relief package targeting healthcare, tourism, exports and job creation, among others. The liquidity portion of […]
Financial Assistance for Electronic Component Manufacturers PLI SCHEME – AN OVERVIEW Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing offers a production linked incentive to boost domestic manufacturing and attract large investments in mobile phone manufacturing and specified electronic components, including Assembly, Testing, Marking and Packaging (ATMP) units. The Scheme would tremendously boost […]
Issue: Whether Refund of unutilized ITC pertaining to input services is allowed under “Inverted duty structure” under section 54 of CGST Act, 2017? Law: Section 54(3) of CGST Act, 2017 that provides for the refund of unutilized ITC under GST has been reproduced below: ‘54(3) Subject to the provisions of sub-section (10), a registered person may […]
