Analysis over the Standard Operating Procedure given by the CBIC, to be followed by Proper Officer for Non- Filler of Returns. 1. Three days before the due date of filling the return, the taxpayer will receive the message from the department for filling the return on or before the due date. 2. If on the […]
The present article briefly covers the important provisions relating to TDS section 194C of the Income Tax Act along with the Frequently Asked Question.
There is a confusion on calculation of Late fees on GSTR-1 for the pending returns which are still not filed up to 10th of Jan. 2020 and question is asked about calculation of Late fees on GSTR-1 which will be filed after 10th Jan 2020. The Notification No. 4/2018–Central Tax Dated 23rd January 2018 is […]
Meaning of Specialized Construction Services: Specialized Construction Services means services related to parts of buildings or civil engineering works rather than the complete construction Services under GST Scenario. These following services are classified as ‘Specialized Construction Services’ under GST Scenario. 1. Services involving repair, alterations, additions, replacements, renovation, maintenance or remodeling of the buildings , […]
In the interest of revenue and to facilitate bonafide and hassle free assessment proceedings both on the part of assesse and department, CBDT has introduced E-Assessment scheme, 2019. let’s look at the backdrop and framework of the scheme as issued through notification no. 61/2019 and 62/2019.
Procedure for Private Placement of Non Convertible Debentures (NCDs) under Companies Act, 2013 This procedure is to be followed in case the issue will be within the borrowing limit of the Company as prescribed under Section 180(1)(C) of the Companies Act, 2013. Sr. No. Particulars What to do Timeline Documents/ Forms 1. Point to be […]
In this article, we look at transactions that require TDS deduction and the TDS rates for AY 2020-21. In some transaction, the person making payment is required to deduct tax at source (TDS) while making payment.
1. ICDS will applicable for computation of income chargeable under the head PGBP or Other Sources. 2. In case of conflict between the provisions of the income tax act and ICDS, the provision of act shall prevail.
YouGov’s latest research reveals that ‘Savings’- either starting to save or increasing one’s current savings is the main financial goal of more than a third of urban Indians (37%) in 2020. Following this, ‘Starting or increasing investment’ (28%) and ‘Securing self or family through insurance’ (22%) were ranked as the main goals by many.
Section 295(2) (ha) of the Income Tax Act, 1961 provides that the CBDT (Board) may make Rules for the procedure for granting of relief or deduction, as the case may be, of any income tax paid in any country or specified territory outside India, under Section 90 or Section 90A or Section 91, against Income – tax payable under the said Act.
