FM has proposed various amendments in Union Budget 2020 which includes Amendments in Section 12A, Section 80G, 12AA etc related to Registration of Charitable Trust or Non-Profit organization (NPO). Article discusses the same in detail- Question: My NGO has life time validity of 12A and 80G certificate, should I apply for fresh registration? Answer: Yes, […]
Understand Ind AS 115 and its objective: providing useful information about revenue and cash flows from contracts with customers.
Where the applicant is providing services to the Government and Government aided schools by building his own infrastructure under a particular project, will there be a GST exemption?
Understand the benefits of approved superannuation funds and the tax exemptions available under section 10(13) of the Income Tax Act.
Analysis of newly inserted section 115BAC (Concessional Tax Regime for Individual and Hindu Undivided Family) 1. The Finance Act, 2020 inserted new section 115BAC, the section provides that notwithstanding anything contained in other provision of Income Tax Act, 1961, Income tax payable in respect of Income of a person being individual and Hindu undivided family […]
Charging section of the CGST act only deal with collection of CGST. As per CGST Act 2017 there shall be levied a tax called Goods and Service Tax on all the Intra state supplies of goods and services on the value determined u/s 15 of the CGST Act 2017.
CGST Act 2017 has no provision restricting cash transactions, but In order to, curb black money ,the government has imposed various restrictions on cash receipts /payments and cash withdrawal from time to time through Income Tax Act 1961. The Government has amended clause 84 of Section 194N vide Finance Act 2020 . Accordingly TDS @ […]
The Indian Government has always taken steps towards promoting foreign investor interests’ in the Indian businesses. Past initiatives such as Make in India, Start-Up India programs are live examples of attracting foreign investors to the Indian business market.
No separate GST Registration is required in the State where imported goods are cleared for sale to customer in the context of Kardex India Storage Solution (P) Ltd. Separate GST Registration in State where imported goods are cleared for sale to customer? A. Brief Fact of the case: M/s Kardex India Storage Solution (P) Ltd, […]
The Background on which the whole discussion of RCM Liability on Directors Remuneration is connected with the Notification 13/2017 CTR dated 28.06.2017 called as the RCM notified services list. In this list as per the entry number 6 of this notification services supplied by a Director of a company or a body corporate to the […]
