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Search results for: tax liability

TDS Clarification on Free Products to Social Media Influencers

Proper TDS Explanation Needed on Free Products to Social Influencers

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 […]

GST Compliance Guide for E-Commerce

Essential Points of GST Compliance for E-commerce Sellers

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 […]

New ITC Changes a Boon or a Bane for GST Suppliers

GST ITC Restrictions Bring Positivity or Negativity: Analysis Here

Union Budget 2022-23 is based on digitization along with the simplicity of doing the business. The main focus of the budget is on the amendment in the taxes to respond to the hurdles which are being suffered by the assessee. Since the coming of the GST, there are several indirect tax measures that are presented […]

All About GST Electronic Ledgers Amendments

Section 49 Amendments on GST Electronic Ledgers in Budget 2022

The Union Budget for the Financial Year 2022-23 (‘the Budget’) was addressed in Lok Sabha by Hon’ble Finance Minister Nirmala Sitharaman dated 1st Feb 2022. After the pandemic, the importance of IT in India is been acknowledged this was the 2nd Union budget that was shown on the tablet and not the traditional Bhai Khata. […]

All About Updating ITR Under Section 139(8A)

Major Components of Updating ITR U/S 139(8A) from FY 2022-23

The Intention Behind Introducing Section 139(8A) To furnish much more time to the assessee it is asked to begin a new provision under section 139(8A) of the Act for furnishing the Updated income tax return of income by any individual if he has furnished a return formerly for the related assessment year or not. The […]

Key GST Proposals in Finance Bill 2022

Summary of 15 Key Proposals in 2022 Finance Bill for GST

The union budget 2022 has brought multiple proposals as well as amendments to the goods and services tax (GST) law and act. The Nirmala Sitharaman with his 4th union budget presentation made some GST proposals in the parliament in the Finance Bill 2022. Major Key Changes of GST in Finance Bill 2022 Let us check […]

GST Compliance Guide for E-commerce Operators

Simple GST Guide to Reg, Returns, TDS/TCS for E-commerce Operators

There is no doubt that the online business or selling from the e-marketplace does not only become the most famous channel of running the business however this channel of selling or running the business becomes unavoidable for any business if the same needs to survive and raise in the coming years. The same provides the […]

2022 TDS Guide on Sale of Property by NRI

Easy Explanation on TDS for Property Sale by NRI (New Guide)

On the capital gains, the NRIs who are selling the house property located in India need to pay tax. It just relied on the short-term or the long-term capital gains on which tax is to be paid. The tax on the long-term capital gain is when the house property is sold post to the duration […]

MH AAAR Judgment for Cummins India Limited

MH AAAR: Head Office Can’t Claim GST ITC on Common Services

Does the chief executive of large companies headquartered in Mumbai towards the firm or just the head office? Are there any common expenses like salary, marketing, branding, or legitimate expenses be circulated to the branch offices or taken by head office only? In a recent ruling via appellate authority for the advance ruling (AAAR) mentioned […]

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