ALTERNATE DIRECTOR: Alternate Director is appointed in place of a director who is temporarily unavailable/leave for a period of more than 3 months from INDIA. We can say that an Alternate Director is like a substitute for the original Director. The appointment of alternate director must be authorized by the Articles of the company otherwise […]
Government has acknowledged that the country can move forward and can develop when the life of honest taxpayer is made easy. This scheme is in the direction of making assessee s’ life easy. Launching of Taxpayers charter is to ensure fair, courteous, and rational behaviour to the honest taxpayers.
Professional Tax Professional Tax is like Income tax but is collected by the State Government. But unlike its name suggests it is not just levied only on professionals. It is a tax on all kinds of professions, trades and employment and levied based on the income of such profession, trade and employment. It is levied […]
Tax Audit Applicability for A.Y. 2020-21 under Section 44AB vis-à-vis Section 44AD / Section 44ADA of the Income Tax Act, 1961 We have attempted to provide a compendious view of Tax Audit Applicability for A.Y. 2020-21 under Section 44AB vis-à-vis Section 44AD / Section 44ADA of the Income Tax Act, 1961. Tax Audit Applicability for […]
Introduction: Extending the due dates for various compliances is one of the reliefs extended by the Government to support the struggling taxpayers due to Covid-19 crisis. However, the extensions are not straight forwarded, it comes with conditions and criteria. Hence it is important to carefully check the relevant conditions and make the compliance. We have […]
Introduction of the Goods and Services Tax is a significant step in indirect tax reforms in India by amalgamating many centrals and State taxes into a single tax; GST is an attempt to mitigate the ill effects that accompany cascading and/or double taxation in a major way. Such a path leads to a common national […]
Indian Finance Act 2020 has abolished Dividend Distribution Tax and, with effect from April 1, 2020, dividends declared by Indian companies would be taxable in the hands of shareholders. Replacing the concept of distribution taxes in the hands of the Indian company that was introduced in India in 1997.
Key notes of Launching of ‘Transparent Taxation – Honoring the Honest’ by the Hon’ble Prime Minister Shri Narendra Modi on 13th August, 2020 at 11 A.M. under The Constitution of India Tax laws are highly complex, complicated and beyond understanding of a tax-payer, in the consequently the revenue authority guided / directed to implanting authority […]
Disposal of income tax cases were big thing for businessman apart from their business. For refund of their own money they faced many problems. People avoided to pay tax when it was well known that their hard earned money will not be used in nation building but will be illegally absorbed into System.
As per the Rule 33 of the CGST Rules 2017, Notwithstanding anything contained in the provisions of this Chapter, the expenditure or costs incurred by a supplier as a pure agent of the recipient of supply shall be excluded from the value of supply of all the following conditions are satisfied
