It is important to note that exemptions have been given on import of only those items whose availability are not in adequate quantity in India, therefore, one may find masks, sanitizers, PPE kits, oximeter, thermometer, Test kit, etc. not been exempted from these taxes.
GSTR-9 : Annual return for the regular tax payer (Due Date – 31st December of next F.Y.) Before going to file the GSTR-9 annual return, we should have several data ready with us to provide in the annual return. 1. List of tax invoices (Taxable, Exempted & Non- GST Supplies) issued during the period in […]
Gifts are usually capital receipts by nature. The Income Tax Act, 1961 (‘Act’) which is levies tax on incomes, that is revenue receipts, carves out certain exceptions and levies tax on capital receipts as well. Gifts are one such receipt. The Act defines gifts as any asset received without consideration like money or money’s worth (in kind).
Who are not required to file GSTR-9 and GSTR-9C? Following person are not required to file GST Annual Return (GSTR-9) and GST Audit (GSTR 9C)- -Input Service Distributor -Tax deductor -Tax collector -Casual taxable person -Non-resident taxable person -Person supplying OIDAR service from Place outside India [Notification No 30/2019 Central Tax Non Rate] -Foreign Airlines […]
Amount to be contributed as specified under Companies Act, 2013? Section 135 provides that the companies, which are mandatorily required to spend towards CSR, shall spend at least 2% of their Average Net Profit (Calculated under section 198, and shall be exclusive of such sums as provided under CSR rules) of the preceding 3 Financial […]
The following table depicts various advantages of forming a Limited Liablity Partnership (LLP) over Private Limited Company. Basis Limited Liablity Partnetship Private Limited Company Minimum and maximum number of partners/members Minimum : 2 partners Maximum : No limit Minimum: 2 members Maximum: 200 members Form of contribution The contribution may either be in form of […]
Technical analysis is the backbone of any reasonable success in forex trading. Players in the market who mean business closely observe market indicators of brokers (check topstepfx review) that are tied to prices and tailor them to their advantage in making market decisions or forecasting the direction of the market. Analyzing market trends involves analyzing […]
We all know how hard this COVID pandemic hit us physically, mentally and financially as well. We had to lock ourselves in our houses to reduce its impact as we were left with no other better option. The government imposed a lockdown also due to which it was not possible for us all to abide […]
The assessee is running the business of property consultancy and also sale purchase of properties on commission basis. From the last so many years, he was doing business of property consultancy. He is regular income tax assessee from the last many years. The assessee is not at all well versed with computer work and cannot access to the computer. He is unable to check his mails as well as his portal on the ITD Website.
Obtaining the Certificate of Registration for your Company is an exciting moment in your business start-up journey. Your Company is born as an artificial legal person with certain inherent features, rights, powers and liabilities. Shareholders are the owners and the Directors are the brains and organs of a Company. In other words, the Shareholders and […]
