by CA Chinmay Shirish Agate | May 23, 2021 | SMEs, Taxation
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 Sr....
by CA Chinmay Shirish Agate | May 23, 2021 | SMEs, Taxation
Section 80TTA 1. Eligibility: Deduction u/s 80TTA is available to an assessee, other than the assesse referred to in Section80TTB, being an individual or HUF.2. Deduction is allowed from the following incomes:a. Interest earned from savings account with a bankb....
by CA Chinmay Shirish Agate | May 22, 2021 | SMEs, Taxation, TDS
1. Any person, being an individual or a Hindu Undivided Family, responsible for paying any sum to a resident, for carrying out any work under any contract or by way of fees for professional services rendered during the financial year.2. Provided that no such deduction...
by CA Chinmay Shirish Agate | May 22, 2021 | SMEs, Taxation
1. Section 2(13A) – Definition of Business Trust: Business Trust means a trust registered as, i) An Infrastructure Investment Trust under the SEBI regulations, 2014; orii) A Real Estate Investment Trust under the SEBI regulations, 2014, and the units of...
by CA Chinmay Shirish Agate | May 22, 2021 | SMEs, Taxation
1. Non-Resident Indian means an individual being a citizen of India or a person of Indian origin who is not a resident.2. Foreign Exchange Asset means any specified asset which the assesse has acquired or purchased with or subscribed to in convertible foreign...
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