What is Real Estate Regulatory Authority & Registration Procedure?
What is the Real Estate Regulatory Authority? What is Real Estate Regulatory Authority & Registration Procedure?: Real Estate Regulatory Authority is the full form of R.E.R.A. Implemented in the year 2017 on 1st May, for managing the real estate sector of India with a strict hand. It is implemented across the country to save the […]
Amendments in Companies Act 2013 Because of COVID-19
1) General Circular 10/2020 and 15/2020 – Regarding explanation of spending for CSR Funds for COVID-19 Amendments in Companies Act 2013 Because of COVID-19 The Ministry of Corporate Affairs via General circular number 10/2020, clarified that the quantity spends on account of CSR funds for COVID-19 is eligible for CSR activity. The funds could also […]
EXEMPTIONS UNDER GOODS AND SERVICE TAX (GST)
Goods Exempted Under GST MEANING: EXEMPTIONS UNDER GOODS AND SERVICE TAX (GST): Exemption under GST means relaxation to pay tax sec (11) by the central government on the Recommendation of the GST council. Such exemption may be a general exemption or exemption by special order. CONDITIONS The exemptions is subject to the following conditions: […]
What Is Tax Deducted at Source?
What Is Tax Deducted at Source?: Understanding the Basics and Its Significance What Is Tax Deducted at Source?: Tax Deducted at Source is a full form of TDS. In this write-up, we will discuss Tax Deducted at Source and everything related to TDS such as rates and types of TDS, Advantages of TDS, TDS Deduction […]
INTRODUCTION TO GST COMPOSITION SCHEME
Unraveling the Basics: Introduction to GST Composition Scheme INTRODUCTION TO GST COMPOSITION SCHEME: A composition scheme or composition levy is a simple and hassle-free method of payment of GST on intrastate supplies of goods and services. a small taxpayer can get rid of tedious GST formalities and pay the GST at a fixed percentage of […]
Companies And LLP Fresh Start Scheme
Introduction: Companies Fresh Start Scheme 2020 Companies and LLP Fresh Start Scheme: In the Circular Dated March 24, 2020, The Ministry Of Corporate Affairs (‘MCA’) Has Introduced Companies & LLP‘S Fresh Start Scheme, 2020 (‘CFSS Scheme’) Vide Circular No. 12/2020 And 13/2020 Dated March 30, 2020, Under Section 460 Of The Companies Act, 2013. The Schemes Is A One-Time […]
Input Tax Credit Under Goods and Service Tax
Input Tax Credit Under Goods and Service Tax: Input tax credit (ITC) in simple meaning means taking the benefit or deduction of tax paid on inward supplies that are the purchase of inputs of goods, capital goods, and input of services against the taxes payable under the GST Act. The outward supplies of goods on […]
NEW TAX REGIME VS OLD TAX REGIME
New Tax Regime vs Old Tax Regime: Embracing the Positive Changes NEW TAX REGIME VS OLD TAX REGIME: The Budget has proposed a New income Tax Regime in addition to the existing, i.e. Old Tax Regime. However, the New Tax Regime is optional. To put it simply, the Assessee can choose between the NEW TAX REGIME VS […]
Golden Opportunity for the Director for Filling their Pending KYC
Golden Opportunity for the Director for Filling their Pending KYC: Very good news from the Ministry of Corporate Affairs of India for all the directors whose DIN was deactivated due to the Non-Filling of Form DIR-3 KYC and Web-KYC now file their Forms without any penalty/Fees. Important Update by MCA – “DIN holders of DINs marked […]
Composite and Mixed Supply Under GST
Understanding Composite and Mixed Supply Under GST Composite and Mixed Supply Under GST: The Supplies of Goods and Services are clearly defined under GST, Similarly, Rates and Place of Supply rules for every Goods/services are also Defined. But In some business practices, all supplies under GST are not such simple and clearly identifiable supplies. Some […]