TDS & GST on Google or FB Ad words advertisements
All about the TDS & GST on Google or Facebook Ad words advertisements: GST @ 18% & TDS @ 2 % can be deducted from the advertising cost of Google Ads. If someone wants to publish an advertisement on a digital platform, the first two names that come to mind are Google & Facebook. Google …
Closure of Subsidiary Company
Closure of Subsidiary Company BRIEF INTRODUCTION Since the last few decades, India has been termed as a hub and one of the most favorable & preferred nations in terms of investments by foreign companies. However, due to some commercial or other reasons, foreign companies tend to close down their business establishments situated in India. Accordingly, …
Compliance for Foreign Subsidiary Companies in India
Types of Compliances for Foreign Subsidiary Companies in India Many foreign companies have entered India with increasing globalization and liberalization to expand their business portfolio and diversify. All companies that have been established and set up in India, whether Indian or international, must follow the laws and rules enacted by the government. The difference is …
GST onTransfer of Business
GST ON TRANSFER OF BUSINESS BRIEF INTRODUCTION With the increase in the dynamicity of the business environment, restructuring of the business is gaining great attention. In the business restructuring, businesses tend to undertake activities like – Merger – where two or more entities merge together and form a new entity, thereby resulting in cessation of …
Analysis & Comparison of Section 194Q & 206C (1H)
TDS on purchase of goods Section 194Q V/s TCS on Sale of goods Section 206C (1H): Q.: Is the new section mentioned u/s 206C(1H)? The new TCS statutes went into effect on 1 October 2020, and if your turnover was more than 10 crores in the past financial year, i.e. the year ended 31 March …
Post incorporation compliances of a company
How to do the Ease of doing Corporate Compliances for Small or Medium Businesses Today’s challenge is to protect businesses from Fines and Penalties and it can be done so by having a system of ease of doing compliances under various Statutes. Failing to meet regular compliance requirements in a timely manner leads to having …
Presumptive Taxation Scheme(U/s 44AD, 44ADA, 44AE)
PRESUMPTIVE TAXATION FOR BUSINESS AND PROFESSION SECTION 44AD, 44ADA, 44AE Under the new provisions, implemented by the Income Tax Department, some sought of relief has been provided to small taxpayers, wherein, instead of undertaking the tedious job of maintenance of books of account and their auditing, they can apply for presumptive taxation scheme under sections …
GST Offenses, Penalties, Appeals Under GST
BRIEF INTRODUCTION As per the Union Budget 2021, which was presented on 1st February 2021, the following provisions were inserted in respect of penalty and appeal – The section 50 of the CGST Act 2017, was amended and it provides for a retrospective charge of interest on net cash liability and the said charge shall …
Gst on real estate sector
GST ON REAL ESTATE SECTOR INTRODUCTION In the 33rd GST Council meeting, which was held on 24th February 2019, the following points were considered – The meeting was chaired by the then Finance Minister Arun Jaitley. And the main consideration of the meeting was GST taxation on the Real estate sector. It was decided that …