Goods and Services Tax
FAQ on GST in relating to Hotel Industry
RJA 25 Dec, 2021
FAQ on GST in relating to Hotel Industry Q1-Will GST be charged on actual tariff or declared tariff for accommodation services? A1-Declared or published tariff is relevant only for the determination of the tax rate slab. GST will be payable on the actual amount charged (transaction value). Q2...
Outsourcing Services
What is means of recovery of Shares?
RJA 24 Dec, 2021
What is means of recovery of Shares? Physical share certificates were used in the early days of investing in stocks. Investors' investments in a corporation, whether in the form of shares or debentures, were allotted in physical form. Due to the fact that these shares/debentures were in paper form, ...
COMPANY LAW
Impact of Disqualification by MCA on a Director’s Career
RJA 21 Dec, 2021
What is the impact of Disqualification by MCA on a Director’s Career If you are a company director, you should be aware of the provisions of the Companies Act 2013, which could result in your directorship being suspended for 5 Years. If a firm fails to file its financial statements ...
TDS
Declaration format in relation to Section 194Q, 206AB & 206CCA
RJA 19 Dec, 2021
Declaration format in relation to Section 194Q, 206AB & 206CCA of the Income Tax Act 1961. As you may be aware, the Finance Act of 2021 added section 194Q to the Income Tax Act of 1961, effective July 1, 2021, imposing 0.1 percent TDS on purchases of goods. Buyers with a total revenue of more than ...
INCOME TAX
Rental income income under the head business income or house property where to disclose
RJA 19 Dec, 2021
Rental income income under the head house property or business income where to disclose The treatment of revenue from the rental of immovable properties for tax reasons has been a point of conflict between the Income Tax Department and taxpayers. Depending on whether the rental income is considered as house ...
Financial Services
WHAT IS FINANCIAL LITERACY & FINANCIAL FREEDOM ?
RJA 18 Dec, 2021
WHAT IS FINANCIAL LITERACY? To be financially literate, you must be able to avoid allowing money – or a lack thereof – get in the way of your happiness as you work hard and achieve, including a long and satisfying retirement. A strong financial literacy foundation can help us achieve ...
NGO
What does Section 80G for NGO?
RJA 18 Dec, 2021
What does Section 80G for NGO? The contributor of a non-profit organization can benefit from Section 80G of the Income Tax Act. The donor receives financial advantages that are included in his taxable income. Required conditions section 80G (5) Registration. The NGO should not have any non-exempt revenue, such as ...
OTHERS
Minimum Wages Revision by the Govt of Delhi or National Capital Territory
RJA 15 Dec, 2021
Minimum Wages Revision by the Govt of National Capital Territory of Delhi The minimum wage is the amount paid to workers in order to maintain their standard of living. It also tries to protect workers from exploitation. The Minimum Wages Act of 1948 ('the Act') now oversees the determination of the ...
INCOME TAX
Income tax Exemption on Electric Vehicle (U/s 80EEB)
RJA 14 Dec, 2021
Income tax Exemption on Electric Vehicle (U/s 80EEB) The central government has announced an incentive for purchasing an electric vehicle in the 2019 Union Budget. The Finance Minister has announced that Registered Electric Vehicle and Advance battery come under this Scheme. Section 80EEB is introduced for deduction for INTEREST ...
Business Setup in India
Top Reasons for a Foreigner to Start a Business in India
RJA 14 Dec, 2021
Top Reasons for a Foreigner to Start a Business in India India is now regarded as one of the most powerful economic forces in the world. Despite being a developing nation, India's economy has a significant impact on global trade. The majority of the world's main developed countries ...
INCOME TAX
How to submit Online Income tax Return
RJA 14 Dec, 2021
How you can file your Income Tax Return without help of Professional/Chartered Accountants. Individuals generally regard filing income taxes as a hardship; yet, due to the lack of accurate data, the advice of a Chartered Accountants or other professional is required. Allow us to inform you that the ...
Goods and Services Tax
Provisions for GST Registration for foreigners in India
RJA 13 Dec, 2021
GST Registration For Non-Resident Taxable Individual (NRTP) GST Registration For Foreigners GST is an abbreviation for Goods and Services Tax. The Goods and Services Tax (GST) is an indirect tax that came into effect across India on July 1, 2017. GST has consolidated many indirect taxes into a single law, the ...
INCOME TAX
Frequently Asked Questions related to Tax Audit
RJA 07 Dec, 2021
Frequently Asked Questions related to Tax Audit Q1.: What is the purpose of section 44AB? Ans. According to this provision, taxpayers must perform an audit of their company or profession in order to provide an audit report for taxes purposes. Q2.: Who is in charge of conducting a tax ...
INCOME TAX
Income Tax Treatment on Listing Gains IPO
RJA 07 Dec, 2021
Income Tax Treatment on Listing Gains IPO Many IPOs are priced at a premium, many investors consider recording gains on the first day of trading. This is a good opportunity to achieve significant returns in a short amount of time. Are you aware that there are tax issues that you ...
FCRA
FCRA Registration & Compliances for Foreign Contribution Regulations in India
RJA 07 Dec, 2021
FCRA Registration & Compliances for Foreign Contribution Regulations in India The legislation was abolished in 2010 and replaced with the Foreign Contribution (Regulation) Act, 2010 and the Foreign Contribution (Regulation) Rules, 2011, which had two major aims: - To regulate the acceptance and use of foreign contributions or hospitality by specific persons, associations, ...
INCOME TAX
What is Annual information statement?
RJA 07 Dec, 2021
What is Annual information statement? Annual Information Statement is a record of all financial transactions done by you during the FY. AIS is an extensive view of information for a taxpayer available or visible in Form 26AS. AIS is a lot of detailed of financial statement. ...
CFO
How much do I pay for Virtual CFO services in Delhi & NCR?
RJA 07 Dec, 2021
A CFO might be needed: 1. DURING FAST DEVELOPMENT Continuous expansion is a significant predictor of the need for a CFO. Development needs the proliferation of integrated structures, new infrastructure, and funding. The CFO is best positioned to cope with accelerated sales growth due to potentially increased difficulty. They must define ...
Goods and Services Tax
Latest Functionalities made available for GST Taxpayers on GST Portal
RJA 03 Dec, 2021
Latest Functionalities made available for GST Taxpayers on GST Portal GSTN has released module-by-module New functionality for taxpayers on the GST Portal. Numerous different functions for GST stakeholders are added on the GST Portal from time to time. These features apply to a variety of modules, including Registration, Returns, Advance ...
FCRA
About FCRA Registration renewal & Cancellation/Suspension
RJA 30 Nov, 2021
Overview about FCRA Registration renewal FCRA registration certificate's validity has been limited to 5 years under the updated FCRA 2010. It should be remembered that under previous legislation, FCRA registration was virtually permanent until it was revoked. The FCRA 2010 requires organizations to update their registration every five years. Organizations who want ...
Goods and Services Tax
GST issues at the time of Inspection & Search
RJA 30 Nov, 2021
GST issues at the time of inspection: GST officers found various issues at the time of inspection: The GST Registration Certificate number was not displayed at a prominent place inside the office premises. There was a discrepancy between the stock register entry and the actual quantity of stock. The Aadhar ...
Goods and Services Tax
Key reasons for GST Notice from GST Dept.
RJA 29 Nov, 2021
Key reasons for GST Notice from GST Dept With greater GST tax evasion and lower GST revenue, the Indian government has tightened its scrutiny of GST compliance. Notices are frequently sent for a variety of reasons, including tax evasion, non-compliance with rates, late files, missing, incorrect invoices, eWay Bill mismatch, ...
Goods and Services Tax
Govt increases GST on footwear; apparel, effective from January 2022
RJA 23 Nov, 2021
Govt increases GST on footwear; apparel, effective from January 2022 New Delhi, India: The Goods and Services Tax (GST) on finished goods including clothes, textiles, and footwear has been raised by the government. GST rates would rise from 5% to 12% in January 2022, based on the state. the Central Board of Indirect Taxes ...
INCOME TAX
Benefit of Filling of Income tax return if income is less than INR 2,50,000 etc
RJA 21 Nov, 2021
Q1.: Is there any advantage to submitting a income tax return if one's income is less than Rs 2,50,000 / Rs 3,00,000 / Rs 5,00,000? Ans: If Our annual income does not exceed INR 2,50,000/-, Then we do not needed to file a income tax Return. However, as a Tax consultants ...
Business Licence Registration
All About the procedure for Import Export Code
RJA 20 Nov, 2021
Importer-Exporter Code in India It is 10 digit Importer-Exporter Code number allotted by DGFT is a mandatory registration for commercial exporters or importers in India. Apply online and get your Importer-Exporter Coderegistration in less than 3 days Import Export (IE) Code India is a registration with the ...
