In India, to dissuade non – taxpayers and to tax “deemed unexplained income”, the government of India through the Finance Act, 2012, inserted Section 115BBE to the Income Tax Act, 1961
CBDT Notifies Rule 29BA And Form 15E To Apply for Certificate Under Section 195 W.E.F. April 1, 2021 Section 195 of the Act relates to levy of Tax Deduction at Source (TDS) on any sum chargeable to tax and which is paid to a non-resident, not being a company, or to a foreign company. Prior to the […]
Definition of Offence: The term ‘Offence’ is not defined under the Companies Act, 2013, so we can derive the definition of offences from the other legislatures. As per Section 2(n) of The Code of Criminal Procedure, 1973, “offence” means any act or omission made punishable by any law for the time being in force and […]
It is common knowledge that there are sometimes inadvertent mistakes in E-way Bills accompanying the Tax Invoices leading to detention of the goods and imposition of heavy penalties. The common mistakes could be mistake in Vehicle number, mistake in delivery address or discrepancy in the date of invoice & E-way Bill etc. In such cases […]
Article explains what is stock Audit, Reasons why one should look forward for the stock audit, key benefits of stock audit and List of Documents Required For Stock Audit. Stock audit, in general usage is considered as an important auditing term which refers to the physical verification of the inventory. However at times, it may […]
Article explains Eligibility for Startup India Scheme, Benefits of Startup India Scheme, Action Plan of Govt. of India on Startups and Documents required for Startup Registration. An entity shall be considered as a Startup if such entity incorporated as a company or registered as a partnership firm or a limited liability partnership in India then […]
Article explains Areas in which Partnership agreements can be formed, Benefits of getting the partnership firm Registered, Requirements for Partnership Firm Registration and Documents required for Partnership Firm Registrations. A Partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, […]
The Goods and Service Tax Network (GSTN) has notified the impending changes in GSTR-1 Table-12 on GST Portal. The government has notified that from 1st April onwards, it will become mandatory to report minimum 4 digit or 6 digits of HSN (Harmonized System of Nomenclature) Code in Table-12 of GSTR-1 and in Tax Invoice. This […]
Quoting of HSN on Tax Invoices With effect from April 1, 2021 A. Quoting of HSN Classification on Invoices (With effect from April 1, 2021) – Notif. No Date Summary of Notification 78/2020 – Central Tax and 6/2020 – Integrated Tax 15-10-2020 HSN classification on Invoices (with effect from 01/04/2021) a. HSN at 6 digits for […]
CSR Policy – A statement containing the approach and direction given by the board of a company, taking into account the recommendations of its CSR Committee, and includes guiding principles for selection, implementation and monitoring of activities as well as formulation of the annual action plan;
