When there is a purchase of immovable property, the buyer needs to deduct tax (TDS) from the Sale value, pay the balance amount to the Seller and pay the TDS amount to the Government. As per Indian Income Tax Act, where a resident purchases any property from a Non Resident, he has to deduct tax […]
TDS on Purchase of Property from NRI Read More »
Introduction: Section 206AB and 206CCA are newly inserted sections in the Income Tax Act,1961 vide Finance Act, 2021. These sections are special provision for deduction/collection of tax at source at a higher rate for certain non-filers (specified person) of Income Tax Return. Section 206AB deals with deduction of tax (TDS) at a higher rate whereas Section 206CCA deals with
Applicability and Analysis Section 206AB and 206CCA of Income Tax Act, 1961 Read More »
Now a days, I see many small companies with new idea and start their business as start ups. I personally feel that those companies should analyze their business module and implement proper internal controls and business processes in order to function smoothly and efficiently. A company without proper planning of business transaction may increase
Importance of Management Consultant for Small Companies Read More »
ROC has extended the due date of holding AGM for F.Y. 2019-20 by 3 months from the due date without the filling of form GNL-1. Share List
mCA Update – general Extension of Due date of AGM Read More »
Provisions under Companies Act,2013 Section 185(1) provides that ‘No company shall, directly or indirectly, advance any loan, including any loan represented by a book debt to, or give any guarantee or provide any security in connection with any loan taken by, – (a) any director of company, or of a company which is its holding
Loans to Director of Private Limited Company Read More »
Introduction In a business scenario, it may not be possible for an industry to carry out all processes of manufacturing the product within its own premises. In such an eventuality, the manufacturing unit will have to get the work done i.e. processing of the raw materials or intermediate product from other businesses. The process performed
Job Work under GST Read More »
Background Section 9(3) and Section 9(4) of the CGST Act, 2017 contains the provisions with respect to Reverse Charge Mechanism in respect of certain services which are notified from time to time. Notification 13/2017 – CT (R) dated 28-06-2017 vide entry No. 6 provides for levy of RCM on services provided by a director of
Applicability of GST on Director’s Remuneration Read More »
The Institute of Chartered Accountants of India has announced a schedule of Exams to be held in the month of November vide Notification No. 13-CA (EXAM)/N/2020 dated 15th Jul 2020. Here is the link to find the Examination Schedule..https://resource.cdn.icai.org/60304icai-exam-nov2020.pdf Source : www.icai.org Share List
November Examination Schedule Notified By ICAI Read More »
The Institute has decided to cancel May 2020 Examinations and merge the May 2020 attempt with November 2020 Examinations, with due carryover of all benefits already available to students including fee paid and exemptions. Follow the Link… http://icai.org/post/important-announcement-for-may-2020-examinations Share List
ICAI Cancels May 2020 Exams Read More »
We are in the middle of a global pandemic and tax compliance with government exemption is tricky and not so easy. Prabhash A Shah & Associates is here to help you out! Share List
Confused with filing GST Returns? Read More »