FAQ on E-Invoicing under GST Q.: What is E-Invoicing under GST? E-Invoicing under GST is that the process of validating the B2B, export Invoices online, on a unified portal & giving a novel IRN & QR code to the said authenticated Invoice. Q.: When will the E-Invoicing system be implemented? The implementation of the E-Invoicing …
As per section 90 read with Companies (Significant Beneficial Owner) Rules, 2018. Every individual, who acting alone or together, or through one or more persons, including a person’s resident outside India, holds beneficial interests, of not less than 10% in shares of a company shall make a declaration (Form BEN-1) to the company, specifying the …
Direct tax Updates: Income tax department has begun scrutiny of the data of traders registered with GST network as also with municipal corporations in Madhya Pradesh and Chhattisgarh. The department has also written to municipal corporations to introduce a column for PAN in the application form for getting a shop and establishment licences. Pre-filled Income …
Good news For Income Tax Return Fillers: ITR Filing: Good News! Income tax return filing process simplified; Big relief in LTCG from CBDT ITR for Capital Gains: For all those taxpayers who have to report long-term capital gains (LTCG), especially from equity shares and equity mutual funds in the financial year 2018-19, there is some …
Steps to Pre- Validate Your Bank Account For Income tax return: Open the Income Tax official Site i.e. https://www.incometaxindiaefiling.gov.in/home Login to Your Account. The User ID to enter For Login would be your PAN number. After Logging In Click On the ‘Profile Settings’ tab in your account and then select the ‘Prevalidate your bank account’ …
WHAT ARE THE BEST CRYPTOCURRENCIES The best cryptocurrencies, prevailing in the market, aren’t just currencies, they’re basically a native’s assets to a number of startups and projects. Mark Cuban and Andreessen Horowitz have been known widely for their heavy investment in altcoins, specifically decentralized finance (DeFi) investments, popularly known as crypto investments. Bitcoin $34,428.00 BUY …
Direct Tax Updates: Income tax registration U/s. 12AA cannot be denied for one suspicious donationIf the genuineness of a donation in one year is doubted, the addition, if any, can be made in the assessment of the relevant assessment year in accordance with law. M/s Urmila Devi Charitable Trust Vs CIT (Exemptions) (ITAT Delhi). RBI …
Direct Tax Updates: CBDT has notified changes in Form 16, the certificate issued by employers for tax deducted at source (TDS) for salaried employees, seeking disclosure of more details, especially about exempt allowances. Form 16 is a certificate issued by an employer detailing the TDS deducted with respect to payment to its employees. According to …
Direct Tax Updates: The increase in effective tax rate to 43% for those earning Rs 5 crore and more has spread disquiet in India Inc’s Csuite, raising the possibility of salary reviews. As per the latest records available, 144 executives of BSE 500 companies on average earned Rs 11.4 crore annually. CBDT new guidelines says …
Corporate And Professional Updates on 16th July 2019 CBDT has issued Clarification regarding the taxability of income earned by a non-resident investor from off-shore investments routed through an Alternate Investment Fund. Govt has re-calibrated and fixed the direct taxes collection target for this financial year at Rs 13.35 lakh crore, a task that the …