India File Kar Raha Hai
GST is meant to bring every indirect form of tax under one roof. For small and medium sized businesses, owners or manufacturers have to take care of different taxes and have to run to various departments to fulfill all the tax-related documentations. Some file different taxes annually, half-yearly. THE CHANGES IN TAX RATE COME INTO FROM JULY […]
Through CGST Amendment Act 2018, the law on this point has been amended by inserting clause (ab) to Sec. 17(5) to specifically deal with the matter. The meaning and purport of this new clause is that ITC in respect of services of general insurance, servicing, repair and maintenance related to a motor vehicle is […]
The Micro, Small and Medium Enterprises growth (Amendment) Bill provides for change in the standard of classification of MSMEs from the existing based on ‘investment in plant and machinery or equipment’ to ‘annual turnover‘ of the enterprise. The Micro, Small and Medium Enterprises Amendment) Bill, was introduced by the Minister of State for Micro, Small and Medium […]
The term ‘copyright protection’ refers to the domination approved to authors by copyright law for exclusive use or reproduction. Similar to trademark registration with the Trademark Registrar, copyright can also be registered with the Copyright Office to enjoy legal protection in a copyright table work. A copyright is made available in a routine fashion to the author immediately […]
If you don’t file ITR, the belated return could lead to extra interest at 1% per month for the remaining tax payable by you. Most millennials think that if their salaries fall below the taxable bracket they shouldn’t be filing ITR (Income Tax Returns). However, that is not true. One wants to file income tax […]
Hope this post finds you well. Here is a quick reminder regarding deadline approaching for filing ITR for FY 2015-16 & 2016-17 in case you haven’t filed one yet. Income Tax Returns should be filed every year It is mandatory to file a return if you have earned any taxable income Stay away from penalties […]
As the name states, an Intimation under Section 143(1) is only an Intimation and not a Scrutiny/ Assessment Order. Intimation under Section 143(1) is an auto-generated letter by the computers of the Income Tax Department without any human intrusion. Intimation under Section 143(1) is sent only in the following 3 cases:- Where any tax or […]
Kindly make note of the following changes in IT law that come into effect from 1-4-2017 – (1) Limit for payment of expenses by cash (both, capital and revenue expenditure) reduced from Rs.20000 to Rs.10000 per day in aggregate per person. Capital expenses paid in cash beyond the said limit will not be taken into […]
PAN card of Proprietor. Identity proof of Proprietor. Address proof of Proprietor. Rent agreement of premises, if Premises is rented. If premises is rented then NOC is required from land lord. A utility bill for address proof. A cancelled cheque. List of items to be traded in. {Five Required} Company name. 4 photographs of Proprietor. Copy […]
