According to Indian Tax Laws, it is an agreement between CBDT and any person, which determines, in advance, the arm’s length price or specifies the manner of the determination of arm’s length price (or both), in relation to an international transaction.
Original Income-Tax Act, 1961 was well drafted by learned officials in Finance Ministry and it was capable of meeting the expectation of the Government. in all future events, except requiring amendments for events and changes taking place in this 21st Century.One side Income-Tax Departments. says that only assesses e-mail address should be provided to enable […]
Presently the last date of filing GSTR-3B returns for every Regular Taxpayer is 20th of every month. It is been observed that out of over 1.03 Cr Regular Tax Payers, most of them are filling the GSTR – 3B Return on the Last Day, thereby putting Excessive Load on the System, leading to Slowing Down […]
GST has been a major structural reform of the current government. Replacing multiple taxes of state and central governments into a single tax has given a major relief to trade and industry. However, since the introduction of GST in India in 2017, it has seen several changes. The current article covers some of such significant […]
A trust is an arrangement by which the property of the author of the trust or settlor is transferred to another, the trustee, for the benefit of a third person, the beneficiary. In general terms, trusts fall into one of two categories, private trusts and public trusts. The India Trusts Act, 1882 (act) governs private […]
Public Provident Fund (PPF) is considered as most important and safe amongst all tax saving investments schemes. This scheme is falls under the EEE category i.e. Exempt, Exempt and Exempt which means if you invest in it, you will get a deduction u/s 80C on your income. Further, the interest you earn on it alongwith […]
The ‘e-invoicing’ system under GST has been introduced from January 1, 2020 for generating business-to-business (B2B) invoices on a voluntary basis. It will become mandatory w.e.f 01 April 2020 for Registered person whose aggregate turnover in a financial year exceeds Rs 100 Crore. E – Invoice is a standard format of the invoice recommended by […]
Form GST ASMT-10 is the notice issued under section 61 of CGST Act, 2017 read with Rule 99 of CGST Rules, 2017 for intimating discrepancies in GST returns filed by taxpayer and seeking explanation for same.
By listing on recognized SME exchange a company can avail numerous benefits under the Income Tax Act. An SME entrepreneur or investor can avail tax benefit on the transfer of shares of a listed company, which ultimately results in enormous tax savings.
As consistent with Companies Act, corporations are required to file particulars of a charge within 30 days of the creation thereof; or else the charge is void against the liquidators and the creditors of the corporation.
