Reverse Charge Mechanism
Reverse Charge Mechanism

1.Section 2(38)- Reverse Charge means the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services or both. 2. Specified Goods under Reverse Charge- Notification No.4/2017-Central Tax Read More

Registration under GST Act
Registration under GST Act

1. Section 25- Procedure for Registration a. Time Limit- Every person who is liable to be registered under section 22 or Section 24 shall apply for registration within 30 days from the date on which he becomes liable to registration. Read More

Taxation Of Dividends
Section 194I-TDS on Rent

Deductor- Any person, [other than individual or HUF (not liable to tax audit in the preceding Financial year)] 2. Deductee- Any Resident 3. Time of Deduction- At the time of credit or payment, whichever is earlier. Read More

Taxation Of Dividends
Expenses not deductible under section 40

Section 40(a)(i): Non-Compliance of provision of TDS where payment is made to Non-Resident Disallowance u/s 40(a)(i) shall be attracted if: A. The amount paid or payable is interest, royalty, fees for technical services Read More

Taxation Of Dividends
Taxation of Hindu Undivided Family

HUF is treated as a separate entity for the purpose of assessment under Income tax act. HUF does not arise from a contract. HUF is a creation of law. After marriage, as soon as a child is born, HUF comes into existence. Read More

Taxation Of Dividends
Taxation of Agricultural Income

Any rent or revenue derived from agricultural land Any Income derived from such land by- i) agriculture, or ii) processing of agricultural produce, or iii) sale by a cultivator or receiver of rent-in-kind of the produce raised or received by him. Read More

Taxation Of Dividends
Taxation of AOPs & BOIs

The income of an Association of Persons (AOP) and Body of Individuals (BOI) shall be computed normally applying the normal provisions of the Income tax Act. The business income of AOP/BOI shall be computed after allowing all expenses referred to in section 28 to 44D. Read More

Taxation Of Dividends
Presumptive Taxation

A. Section 44AD: Special provision for computing profits and gains of business i) Applicable to - 1. Resident Individual, HUF and Firm (Excluding LLP) carrying on any business, and 2. whose total turnover or gross receipts in the previous year does not exceed an amount of Rs. 2 crores. Read More

Taxation Of Dividends
Taxation Of Dividends

Dividend is ordinarily used to refer to any distribution made by a company to its shareholders out of its profits in proportion to the number of shares held by the shareholder concerned in the company. Read More

annual_report
GST Annual Return Form GSTR-9

GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads Read More