www.carajput.com; GST Changes Applicable From 1st April Onwards: Data Issued as per the CBIC Circular Issued on March 7, 2019: Benefit of composition scheme has been extended to service providers also. This scheme shall be available only if supplier is engaged in supply of goods or services within same state and the aggregate turnover of …
Indirect Tax Updates: In a major relief to manufacturers, distributors, marketers and direct sellers of consumer products, the government on Thursday clarified the extent of tax liability and the eligibility of input tax credit on promotional offers such as free samples and “buy one, get one free”. Industry players were apprehensive about increased litigation from tax …
Direct tax Updates: The Central Board of Direct Taxes has ordered “best judgment assessment” of individuals who failed to comply with the income tax department’s repeated alerts on bank deposits made soon after demonetisation. The income tax department had sent out SMSes, emails and also issued notices to around 300,000 individuals, who made substantial cash …
Direct Tax Updates: CBDT, in a bid to promote Cashless Transactions, issues an advisory on its Official Website regarding Cash Transactions over and above the prescribed limits specified under the law. Central Government amends the Aadhaar Act and two related laws in order to make Aadhaar based-KYC for Procuring Mobile Connection and Bank Account compulsory. …
Step-by-step Guide to Check Income Tax Refund Status Are you eligible for a refund of your taxes? You are eligible for an income tax refund if you paid more tax than your actual tax liability in a given fiscal year. You’ll need to request a refund through the ITR for that year. You’ll receive your …
Corporate and Professional Updates on 1st March 2019 Direct Tax Updates: Income tax department will issue only e-refunds and that too these will be credited only to bank accounts linked with PAN. In addition to that, you are also required to pre-validate your bank account with the income tax department e-filing portal to receive …
Direct tax updates: Candidates contesting all forthcoming elections will not only have to declare their income-tax returns of the last five years, offshore assets and PAN details, but also those of their spouses and family members as announced by the Government. Form 26 is filed along with the nomination papers giving details about the criminal …
FAQ’s ONINCOME TAX ADVANCE RULING PROVISIONS Q.: What is Authority for Advance Rulings (AAR)? The scheme of Advance Rulings has been introduced under the Income-tax Act, 1961. It was reinforced by the Finance Act, 1993. Chapter XIX-B of the Income-tax Act, which deals with advance rulings, came into force with effect from 1-6-1993. Under the …
Complete Understanding about Reverse Charge Mechanism (RCM) What is Reverse Charge? Normally, the supplier of goods or services pays the tax on supply. In the case of Reverse Charge, the receiver becomes liable to pay the tax, i.e., the chargeability gets reversed. When is Reverse Charge Applicable? Supply from an unregistered dealer to a Registered …
www.carajput.com; MCA E-FORM INC_22A Introduction about FORM NO. INC.22A Active Company Tagging Identities and Verification is a new concept that is introduced by the Ministry of Corporate Affairs on 21-02-2019 by notifying Companies (Incorporation) Amendment Rules, 2019. It also introduces the new E-FORM ACTIVE (INC-22A). It is an attempt by the Ministry of Corporate Affairs in …