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Every individual who comes under the income chargeable to tax is needed to furnish the ITR to declare their income along with the tax liabilities. However, the income tax laws in India issue the collection or deduction of the tax at source (TDS/TCS) itself. The same gives the assurity about the regular flow of the […]
There are more essential due dates that are more than the end of this fiscal year that secure a direct link with your money and are going to be finished this month. The last date to furnish the belated or revised ITR, PAN-Aadhaar link, Bank account KYC, and others are some of them. Thus an […]
The properties rented out by the partner to his partnership firm are subjected to pay the GST specified by Tamil Nadu authority for the Advance Rulings (TNAAR). The same would be applied despite when there is NIL rent. The petitioner, Chennai-based Shanmuga Durai is the Managing Partner of a partnership firm and indeed owns individual […]
The Income Tax Appellate Tribunal (ITAT) Delhi bench ruled that under Section 9 (1) of the Income Tax Act, 1961 the activity of inspection and investigation of goods prior to shipment would not be considered as technical and managerial services. Before that the commissioner of the income tax Appeals CIT(A) proved the additions built to […]
An E-commerce seller is known as a seller who lists its products/ services on E-commerce platforms such as Flipkart, Amazon, etc. But the question that arises is whether & what TDS they need to eliminate. The answer would likely be any other business. TDS compliance involves an E-commerce seller, just similarly it applies to any […]
TDS on the paid consideration has been in dispute since the disallowance of the expenses of the gift on the business associates. It is alleged by saying that these gifts are instead of the professional fees, pain in kind, and thus the assessee must deduct and deposit the TDS beneath sections 194J /194C of the […]
E-commerce changed the procedure of business performed in India. Much rise in the industry would be formed through the penetration of the internet and the smartphone. As per that there is an increase seen in the sellers on the e-commerce portals. In this article, we would discuss the points that shall support the e-commerce sellers […]
ITR 7 can be filed by any person, including companies who are required to furnish a return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) Important Points to Know While Furnishing the ITR-7 Why So Difficult to File the ITR 7 Form? The ITR 7 is much more different than the […]
For late TDS issuance of the certificates by deductors including individual deductors, Budget 2022 has urged to increase the penalty. The decision taken by the budget is to increase the penalty of Rs 500 per day from Rs 100 per day. In the major times, the employers and financial institutions such as banks and others […]
