Every individual who has annual income above the minimum exemption limit or has received any income on which tax was deducted at source (TDS), needs to file their Income Tax Return (ITR) every year. However, Income Tax Act pampers senior citizens and very senior citizens with several tax benefits. A person between 60 years and […]
New provisions of TCS on remittance abroad under LRS and on purchase of overseas tour programme package and on sale of goods w.e.f. 1.10.2020 As per newly inserted provisions by the Finance Act, 2020 TCS is to be collected u/s 206C(1G) on sale of foreign exchange by foreign exchange dealer an also by a seller […]
जीएसटी और टैक्स ऑडिट की तारीखें बढ़ा कर सरकार ने स्पष्ट संकेत दिए हैं कि सरकार करदाताओं की वास्तविक समस्याओं को लेकर इस समय ना सिर्फ संवेदनशील है बल्कि अब समय पर कार्यवाही भी कर रही है .
Tax on incomes, earnings and gains is levied by the Income Tax Act, 1961 (‘Act’) in India and the same is enforced and administered by the Income Tax Department. Income tax is either collected directly from the taxpayer in the form of advance tax and self-assessment, or they are collected indirectly through the persons paying income or charging expenses to the taxpayer, in the form of tax deducted at source (‘TDS’) or tax collected at source (‘TCS’) respectively.
The Companies (Amendment) Bill, 2020 received President’s assent on 28th September, 2020. The Companies (Amendment) Act, 2020 seeks to amend the Companies Act, 2013 and contains 66 clauses. It shall come into force on such dates as the Central Government may, by notification in the Official Gazette, appoint. A. Key Highlights of the Companies (Amendment) […]
Registered office address of the Company is the Address which is visible on Master Data of the Company. As per Section 12 and other applicable provisions of Companies Act, 2013, it is mandatory to have a Registered Office address for the Company registered with Ministry of Corporate Affairs. Even, if registered Office address for Correspondence […]
A. FAQs on Filing of Letter of Undertaking for Export of Goods or Services (FORM GST RFD-11) Q.1 Who has to furnish a Letter of Undertaking? Ans: Any registered person availing the option to supply goods or services for export /SEZs without payment of integrated tax has to furnish, prior to export/SEZs supply, a Letter […]
Q.1 What is the purpose of ‘Submitting intimation on account of refund not received’ functionality? Ans: This functionality is made available to taxpayers to intimate about a case, for which they have not received refund amount, on any of the refund application filed through Form GST RFD-01A. Q.2 I have filed a refund application for […]
Article contains FAQs on Tracking GST Refund Status, Manual on Track Refund Status Post-Login, Manual on Track GST Refund Status Pre-Login and Manual to Track Refund Status for IGST paid on account of Export of Goods. It also explains different status types of refund application for IGST and Cess paid on account of Export of […]
‘Job work’ is a very significant part of our country’s industry and a much talked about subject among the tax fraternity. A lot of manufactures send the inputs or semi finished goods out for processing and treatment and receive back finished goods after paying labour charges to the job workers.
