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Registration under GST Act

1. Section 25- Procedure for Registration a. Time Limit- Every person who is liable to be...

Reverse Charge Mechanism

1.Section 2(38)- Reverse Charge means the liability to pay tax by the recipient of supply of...

Section 80TTA and Section 80TTB

 Section 80TTA 1. Eligibility: Deduction u/s 80TTA is available to an assessee, other than the...

Section 194M- TDS on payment to residents contractors and residents

1. Any person, being an individual or a Hindu Undivided Family, responsible for paying any...

Taxation of Business Trust and Unit Holders

 1. Section 2(13A) – Definition of Business Trust: Business Trust means a trust registered as...

Taxation on Non-Residents

1. Non-Resident Indian means an individual being a citizen of India or a person of...

Slump Sale

 1. Section 2(42C): Definition of Slump Sale: Transfer of one or more undertakings as a...

Section 32AD – Investment if new plant or machinery in notified backward areas in certain states

1. Eligible assessee – Any assesse i.e. Company or non – corporates 2. Quantum of deduction...

Direct Tax provisions – Budget 2020

Income Tax The new Direct Tax regime proposed by our finance minister Smt. Nirmal Sitaraman...

Precautions for GST Audit while finalizing balance sheet

Every business organization is engaged in finalizing books of accounts and preparation of Balance Sheet...

While choosing between old Vs new Tax regime

The new Direct Tax regime proposed in Budget 2020 is an option to continue existing...

Change in tax audit limit

The Finance Bill, 2020 has brought a major amendment to section 44AB of the income tax act...

Advantages Of Having Tax, Payroll and WFM Software For SMEs

Any organization, small or big may have several business processes that may require lot of...

GST Software and its Advantages to Businesses in Calculation and Filing

What is GST? Term GST stands for the Goods and Services Tax. GST bill was...

GST gets a facelift, E-Invoicing mandatory from April 1st, 2020

During the last few months there were several media reports relating to the electronic invoice...

DDT has been Abolished

The Finance bill 2020 proposed to abolish dividend distribution tax (DDT) which may result in...

Robust GST revenues show growth potential

GST collections for February were at Rs 1.5 lakh crore, registering an increase of over...
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