Articles explains about What is Statement Of Financial Transactions (SFT) and ITDREIN, Who is reporting authority to file SFT, Which transactions needs to be reported. How to create ITDREIN, Nature and Value of Transactions to be Reported Under Rule 114E, Reporting format and how to report SFT.
After the announcements made in the Finance bill 2017 it is important to discuss the comparison between an LLP and Private limited company from a taxation point of view.
As per the existing provisions of the Act, donations made by a trust to any other trust or institution registered under section 1 2AA or to any fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via)
Where a person required to furnish a return of income under Section 139, fails to do so within the time prescribed in sub-section (1) of said section, he shall pay, by way of fee, a sum of- (a) Five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year; (b) Ten thousand rupees, in any other case;
A person can open two accounts under National Pension System (NPS). The main account is called Tier I account and an additional account is labelled as Tier II account. Let us understand about both of these accounts. Features of Tier I NPS account: Tier I is the default and proper pension account under NPS. This […]
A Company may issue Bonus Shares out of- its free reserves; Securities Premium Account; Capital Redemption Reserve Account. Further, it has been provided that Issue of Bonus Shares shall not be made out of Capitalising Reserves created out of revaluation of Reserves. Free Reserves means such reserves of the Company which is available for distribution as Dividend.
AS PER THE PROVISIONS OF GST ACT FOLLOWING SECTIONS NEED TO ANALYSIS AND INTERPRET FOR GST REGISTRATION Liability for Registration (Section 22) : According to Section to 22(1) of the CGST Act, 2017, If the Supplier makes a taxable supply of goods or service or both from his State or Union territory and his aggregate turnover in a financial year exceeds 20 lakhs rupees, he shall […]
The retrospective applicability of Benami law has been a subject matter of controversy, particularly after the amendments introduced in year 2016. In this article, an attempt is being made to identify and analyse various issues involved, and discuss the present judicial stand on such issues pending final verdict by Hon’ble Supreme Court. A) Introduction: Originally, […]
Reverse Charge Mechanism (RCM) under Section 9(4) of the CGST Act, 2017 and recent Notification No. 07/2019- Central Tax (Rate) dated 29th March 2019 effective from 1st April, 2019 The provision that has gathered maximum attention for its ability to create significant stress and nuisance would clearly be Section 9(4) of the Central Goods and […]
आईये बहुत ही आसान भाषा में समझें कि जीएसटी में सामान्य तौर पर जो सप्लाई होती है वह राज्य के भीतर की सप्लाई है या अंतरप्रांतीय सप्लाई है, इसका निर्धारण किस तरह से किया जाता है . यह लेख अपवादों को छोड़ते हुए होनी वाली सामान्य सप्लाई से सम्बंधित है और इस प्रकार की सामन्य सप्लाई के अपवाद और उससे जुडी हुई जटिलताएं का अध्ययन हम आने वाले दिनों में किसी और लेख में करेंगे. इस लेख में भी कहीं कहीं हमने कुछ अपवादों की चर्चा जरुर की है लेकिन वे सभी नहीं हैं इसलिए इसके लिए हम एक और लेख का प्रयोग करेंगे.
