The entities entering into foreign exchange transactions are exposed to foreign exchange risk i.e. risk that the exchange rate of the transactional currency may change which may lead to foreign exchange loss to such entities at the time of their realization or restatement.
Earlier, only individuals and HUFs who were mandatorily required to have their accounts audited as per the tax laws were required to withhold tax on rental payments on immovable property. However, with the introduction of this new section, all individuals and HUFs
This article mainly deals with the understanding of some common ways to save income tax of a salaried individual
People invest in various products considering the pros and cons of each and every investment. Most of the taxpayers are aware of deductions u/s 80C. The maximum limit of deduction available u/s 80C is Rs. 1,50,000/-. In this article, we will discuss the deduction available under various other sections.
E – invoicing or electronic invoicing is a process of validating invoices electronically thru GST Network (GSTN) for further use on common GST portal. It does not mean generation of invoices from a central portal of tax department. The GST council has notified that e invoice is mandatory for registered person whose aggregate turnover in […]
Startup expense – professional charges paid for incorporation, drafting of MOA and AOA, Printing cost of documents, fees paid to ROC, stamp duty etc. Salary to director – For example, Let us say XYZ private limited company is making a profit of 5 lacks which is to be shared among the founder/director in equal ratio. […]
Discover how Artificial Intelligence Auditor & Auditing Models can revolutionize corporate governance standards and reduce errors.
An attempt has been made to cover all aspects of E Way Bill generation in this article . For better understanding and keep the article concise , contents have been divided in four parts . Part 1 – Generation of e way bill & its salient features. Part 2 – Contents of E- Way Bill […]
Notification No. 63/2019 – Central Tax Dated 12th December 2019 For taxpayers who are having the principal place of business in the state of Jammu & Kashmir having an aggregate turnover above Rs 1.50 Crores during the last financial year or during the year, the last date for filing of GSTR – 1 for the […]
Notification No. 68/2019-Central Tax ,dt. 13-12-2019 The provisions of Manner of Issue of issuing Invoice as per Rule 48 has been amended to facilitate the issue of IRN with insertion of Sub Rule (4). Taxpayers with an annual turnover of Rs 100 Crores in a financial year does not issue an e-invoice, It will not […]
