TDS
NSDL: Extension of QTR TDS/TCS statement filing dates for Quarter
RJA 20 Apr, 2020
NSDL: Update on Extension of Quarterly TDS/TCS statement filing dates for Quarters. Extension of quarterly TDS / TCS statement submission of By the NSDL circular dates for Extension of due date for TDS returns for four Quarters of the Financial year. Due date of TDS/ TCS Return filling ...
COMPANY LAW
Everything about MCA Company Fresh Start Scheme (CFSS) 2020
RJA 01 Apr, 2020
Everything about MCA Company Fresh Start Scheme (CFSS) 2020 The Ministry of Corporate Affairs released Company Fresh Start Scheme 2020 full Circular 12/2020 dt 30.3.2020 which applies to both public and private corporations incorporated under the CoAct 1956/2013. The key provisions are as follows:- (1) Permits to register all outstanding refunds, accounts, records over any ...
ROC Compliance
GST applicability on Bitcoin in India
RJA 31 Mar, 2020
GST applicability on Bitcoin in India GST on Bitcoin – Is Bitcoin trading taxable? There are a lot of situations in which GST tax could be levied on Bitcoin trading and other cryptocurrencies. Let's find out if there's a GST on bitcoin. Authorized Person of India’...
COMPANY LAW
Filing of Director KYC (DIR- Filing of Director KYC (DIR-3 KYC)
RJA 16 Jan, 2020
Filing of Director KYC (DIR- Filing of Director KYC) (DIR-3 KYC): Provision: Provision: In compliance with Rule 12A of the Rules of Procedure of the Companies (Nominations and Qualifications of Directors) 2014, any person holding a DIN as of 31 March of the financial year shall apply an EFORM DIR-3 KYC ...
OTHERS
Complete Understanding on Business Valuation
RJA 01 May, 2019
Complete Understanding on Business Valuation Business valuation is primarily the approach for identifying a business's "economic value." This builds mainly on some financial assumptions and various limitations relating to the valuation date information available to assess the value of the company. The business can be assessed in ...
Transfer Pricing
Rules Penalties methods documentation required in Transfer Pricing
RJA 10 Sep, 2018
RULES, PENALTIES, METHODS, DOCUMENTATION REQUIRED IN TRANSFER PRICING What Is Transfer Pricing, Exactly? Transfer pricing refers to the prices that related parties charge one another for goods and services passing between them. Transfer pricing is a method of accounting that reflects the price charged by one division of ...
OTHERS
SERVICE EXPORTS FROM INDIA SCHEME
RJA 06 Sep, 2018
To encourage the export in the country the Foreign Trade Policy- 2015-2020 has been introducing a Service Exports from India Scheme (SEIS) with effect from 1 April 2015. This scheme provides benefits to ‘Service Providers located in India’ i.e. all service providers of notified services, ...
GST Registration
REQUIREMENT OF GST REGISTRATION
RJA 04 Sep, 2018
Registration is required in case of liability under RCM, even if no taxable supplies are effected In the case of the Joint Plant Committee [2018], the Authority of Advance Ruling held that if Assessee is engaged in providing exempt goods or services only then they not liable to apply for registration ...
GST Consultancy
No GST on Interest on Loan by DEL-Credere Agent
RJA 03 Sep, 2018
NO GST ON INTEREST ON LOAN BY DEL-CREDERE AGENT Act as a guarantor of credit extended to the buyer. A Del credere agent can act as a combination of a salesperson and an insurance firm. A Del credere agent becomes liable to pay the principal if the buyer made ...
Goods and Services Tax
Input tax credit of Goods and Services Tax
RJA 01 Sep, 2018
INPUT TAX CREDIT GST is the indirect tax that is imposed on the services and goods on the basis of the primary value addition. Hence, the imposing of the tax is totally based on the value addition at the single stage of the chain of supply until the finished product ...
GST Registration
How to do GST registration for the branches and business verticals?
RJA 28 Aug, 2018
According to the CGST Act, registration is important for suppliers of the taxable goods and services under the GST in the union territory, from the payable supply of the services and goods, is created. In addition, provisions have been given in the GST Registration Rules for getting GST registration ...
COMPANY LAW
LAST DATE OF DIN KYC UPDATE HAS BEEN EXTENDED
RJA 25 Aug, 2018
LAST DATE OF DIN KYC UPDATE HAS BEEN EXTENDED For the purpose of KYC on ROC -Directors database on ROC, ROC has entered for updated all persons holding DIN to complete DIN KYC on or before 30/09/2022. To close DIN KYC, the Director will be required to complete a form file ...
Transfer Pricing
OVERVIEW OF TRANSFER PRICING IN INDIA
RJA 14 Aug, 2018
OVERVIEW OF TRANSFER PRICING IN INDIA Transfer pricing refers to the prices that related parties charge one another for goods and services passing between them. The most common application of the transfer pricing rules is the determination of the correct price for sales between subsidiaries of a multinational corporation. These ...
GST Registration
Cancellation and revocation of Registration under GST
RJA 03 Aug, 2018
Cancellation and revocation of Registration under GST You want to cancel your GST (Goods and Services Tax) registration because GST does not apply to you or because you are closing your business or profession. Or there is some other valid reason due to which you want to cancel your GST ...
Goods and Services Tax
HSN & SAC Codes along with GST Rate
RJA 03 Aug, 2018
What is HSN codes? HSN stands for Harmonized System of nomenclature. This coding system is developed by World Customs Organization (WCO). This is a Global standard of Nomenclature of trading goods in international trade. The HSN is the codification of all tradable commodities into 20 broad sections with each chapter containing ...
Transfer Pricing
Aims & Objective of Transfer Pricing
RJA 03 Aug, 2018
OVERVIEW ON TRANSFER PRICING Transactions between two or more enterprises belonging to the same multinational group have created a new and complex issue as a result of the increasing participation of multinational groups in economic activities in the country. To provide a detailed statutory framework that can lead to the ...
Business Setup in India
Government fees for company registration
RJA 01 Aug, 2018
If you are registering a startup or a new business in India then first and foremost, there are some official procedures of startup or a company has to follow in order to register them in Indian official records, MCA (ministry of Corporate Affairs) will charge registration fees given as ...
INCOME TAX
REBATE U/S 87A OF INCOME TAX ACT , 1961
RJA 31 Jul, 2018
Rebate u/s 87A of the Income Tax Act was introduced in the year of 2013 with the objective of reducing the tax liability of the assessee whose income is not more than Rs 3,50,000 You can claim the rebate u/s 87A if you fulfil the following conditions: You are an ...
Goods and Services Tax
Different Meaning of Turnover In Income Tax Act ,Companies Act & Gst
RJA 30 Jul, 2018
DIFFERENT MEANINGS OF TURNOVER IN INCOME-TAX ACT, COMPANIES ACT & GST As per companies act,2013: - "turnover" means the gross amount of revenue recognized in the profit and loss account from the sale, supply, or distribution of goods or on account of services rendered, or both, by a ...
GST Compliance
Highlights of GST Council Meeting Held
RJA 26 Jul, 2018
HIGHLIGHTS OF GST COUNCIL MEETING HELD The GST Council in its 28th meeting held today at New Delhi has recommended certain amendments in the CGST Act, IGST Act, UTGST Act, and the GST (Compensation to States) Act. The major recommendations are as detailed below: The upper limit of turnover for ...
Goods and Services Tax
All About TDS under GST Applicability, Rate, penalties Provisions
RJA 25 Jul, 2018
Complete Guidance on TDS applicable on Goods and services GST TDS is the system through which a certain percentage of tax is collected at the source of the income. Certain Government departments, Local Authorities, Agencies, and Public Sector Undertaking are required to deduct GST TDS. GST TDS is a ...
Goods and Services Tax
OVERVIEW OF GOODS AND SERVICES REGISTRATION
RJA 24 Jul, 2018
GST REGISTRATION FOR SERVICE PROVIDERS: - like any other category of business, service providers would be required to obtain GST registration, if the entity has an aggregate annual turnover of more than Rs.20 lakhs per annum in most states and Rs.10 lakhs in the Special Category States(The GST Council ...
INCOME TAX
Penalty U/S 234F (Fees) For Late Filling of ITR
RJA 22 Jul, 2018
PENALTY U/S 234F (FEES) FOR LATE FILING OF ITR Under this section, the fee (penalty) is levied if the Income-tax return is not filed within the due date. It is likely to be increased from 1st April 2018 onward as per Section 234F of the Income Tax Act. Provisions ...
INCOME TAX
ALL ABOUT EQUALISATION LEVY/GOOGLE TAX
RJA 21 Jul, 2018
Taxation Indian digital Economy: Equalisation Levy Over the last decade, Information Technology has gone through an expansion phase in India and globally. Consequently, this has given rise to various new business models, where there is a heavy reliance on digital and telecommunication networks. As a result, the ...
