Form 15CB FAQs Q.1 What is Form 15CB? Form 15CB is a certificate to be furnished by an Accountant in cases where any payment / aggregate of payments exceeding ₹5 Lakh in a FY, chargeable to income tax is made to a Non-Resident, not being a Company or to a Foreign Company, and a certificate from the AO u/s […]
Form 15CA FAQs 1. What is Form 15CA? As per Section 195, every person making a payment to Non-Residents (not being a Company), or to a Foreign Company shall deduct TDS if such sum is chargeable to Income Tax and the details are required to be furnished in Form 15CA. A person responsible for making […]
Goods and Services Tax (GST) was introduced in India with much fun and fare and ceremoniously on the midnight of 30th June and 1st July of 2017, almost four years now. While it was considered to be the most important tax reform of independent India, it has misfired on various counts. India shifting from a multi indirect […]
A new section 194Q is proposed to be introduced effective from 1st July 2021 towards TDS on purchase of Goods. Background: As per the estimation, it is said that only 5% of the Indian population files Income Tax returns and out of which only 1% pays tax. Government has been trying relentlessly to plug the […]
Why the conflict over depreciation of goodwill: To understand this from a layman’s perspective – any deduction by way of depreciation leads to reduction in profits from Business or Profession and thus Total income. What does that lead to -For the Government – reduced tax. -For the Buyer – reduced cost of acquiring an asset […]
Tripura High Court held that abatement of duty can’t be withheld solely on ground that Superintendent did not record that sealing was done in such a manner that machine could not be operated as it was not within the control of the Appellant in what manner the Superintendent passed an order after sealing the machine.
Understanding TDS under Section 194Q of The Income Tax Act. Learn about the new tax provisions and its impact on businesses.
It is often said that the small and medium businesses are at the heart of Indian economies’ demand and supply market. To cater to these small businesses and to provide a simplified and hassle-free scheme for compliance requirements under GST, the concept of a composition levy scheme was introduced. The composition scheme is almost similar […]
भारत सरकार उन सारे लोगो को पकड़ना चाहती हैं जिनकी कमाई तो हैं पर जो ना टैक्स भरते हैं ना ही अपना इनकम टैक्स रिटर्न दाखिल करते हैं l सरकार टैक्स च्रोरो को पकड़ने के लिए नए नए उपाय सोचती रहती हैं, धारा 206AB भी उसमे से एक हैं l धारा 206AB के तहत ये बताया गया […]
SEBI has amended the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulation) in short. SEBI has notified the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2021 on 5th May 2021. Though the SEBI has amended many regulations but here I am […]
