by Sinewave Team | May 23, 2021 | SMEs, Taxation, TDS
1.Deductor- Any Purchaser (Other than person referred to in section 194LA)2. Deductee- Any seller being resident3. Time of deduction- At the time of credit or payment, whichever is earlier4. Rate of TDS- 1% of the total considerations for transfer...
by Sinewave Team | May 23, 2021 | GST, SMEs, Taxation
1. Section 25- Procedure for Registrationa. 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.b. State wise...
by Sinewave Team | 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 Sinewave Team | 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 Sinewave Team | 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...
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