In this article I am going to discuss Taxation of Business Trust in India. Concept of Business Trust was introduced vide Finance Act, 2014. The Finance Act, 2014 has put in place special taxation regime in respect of Business Trust.
Many users get confused regarding online payment of TDS/TCS and same way if there is any outstanding demand against our TAN then how to resolve it. Hence today I come up with this article which wil give you the clarity regarding online payment of TDS and outstanding demand payment. 1. Online TDS/TCS or Demand Payment […]
Accordingly, TDS under section 194C is not applicable on printing material as per customer specification, wherein customer has not supplied any material to contractor and contractor has supplied the final product for a price, which is in the nature of contract for sale.
Taxation of works contract in erstwhile indirect taxes including VAT, CST and Service Tax involved complexities. Since both the element of service and transfer of property in goods is involved in a works contract transaction, there was always a dispute as to the ratio in which it has to be taxed under Service tax and […]
The present case has again established a clear picture on the interpretation of Section 14A of the Act, with detailed explanation of various cases. It clearly explains that Section 14 of the Act will not apply if no exempt income is received or receivable during the relevant previous year.
The process of preparing and filing of annual return in GSTR 9 for FY 2018-19 under GST has started and there have been a number of doubts arising as to how to reconcile the Input Tax Credit (ITC) under various tables pertaining to the FY 2018-19, because the GSTR 3B filed for 2018-19 contains rectifications […]
Despite passing of almost 3 years since the enactment of GST laws, many mistakes are still being committed by GST tax payers while filing GST returns particularly GSTR3B and GSTR1. These mistakes are generally committed either due to negligence, oversight or due to lack of conceptual clarity on various provisions of the GST Acts and […]
Interplay between Section 50C, 50CA, 43CA and 56(2) of Income Tax Act, 1961 The above sections are meant for taxing the persons who are in the intention of selling the assets at a price less than stamp duty value / fair market value. The above said sections are drafted in a lucrative way to the […]
The Ministry of Corporate Affairs (MCA) has introduced a new scheme vide General Circular No. 23/2020 for relaxing the time for filing of e-Form CHG-1 / CHG-9 for creation or modification of Charges beyond 120 days of such creation or modification. Background As per the provisions of Section 77 of the Companies Act, 2013 (Act), […]
‘Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013’ (‘Scheme’) by which relaxation has been granted in filling Form CHG – 1 and Form CHG – 9.
