Discover the SBI Amrit Kalash Deposit Scheme with lucrative interest rates for SBI employees, pensioners, and the general public. Apply online via SBI Net Banking or YONO app.
Learn all about gifts, including their meaning, taxation, and important aspects to consider. Get insights on gift taxation and recent amendments.
Learn about the alert of risky exporters, its impact on refunds, and the procedures for revocation and regularization. Insights by CA Sachin M Jain.
Discover how to identify fraud risk factors in mid-cap private limited companies and learn strategies to mitigate potential risks. Expert insights provided.
Understand GST liability on advance payments for services. Learn when liability arises, exemptions, steps for service providers, and GSTR-1 incorporation.
MSME means Micro, Small and Medium Enterprises. It has been governed by MSMED Act, 2006. Based on the Investment made by the enterprise in the P&M / Equipment and their turnover they have been classified into Micro, Small and Medium Enterprises. Below is the Revised MSME Classification.
Composition Scheme under CGST Act is a simple tax scheme designed for small businesses & service providers with a turnover of up to Rs. 1.5 crore per annum.
As per the Finance Act 2021, the re-assessment notice can only be issued to an assessee under Section 148 of the Act when there is an information with the jurisdictional Assessing Officer which suggests that the income chargeable to tax has escaped assessment in the case of the assessee for the relevant Assessment Year with the prior approval of the specified authority under Section 151 to issue such notice.
Learn about tax deductions for new employee costs under section 80JJAA of the Income-tax Act, its eligibility criteria, and practical scenarios for claiming deductions.
HC held that, purpose of a SCN is to enable the noticee to meet allegations, on the basis of which an adverse action is proposed. Further, procedure adopted by Revenue Department is flawed and order for cancellation of GST Registration of assessee was passed in violation of principles of natural justice.
