Section 9 of the Income Tax Act, 1961, is a cornerstone provision in Indian tax law, setting forth specific instances where income is considered to have originated from Indian sources, even if earned by non-residents or foreign entities. This section plays a significant role in determining tax liability for foreign entities and non-residents with economic […]
Author Archives: Kartik M Jain
19
Jun
Jun
Introduction:ITR filing can be a daunting task, especially when it comes to selecting the correct ITR form and ensuring accurate reporting of income and deductions. This article provides a comprehensive guide to help individuals in India navigate the ITR filing process smoothly and avoid common mistakes. Identifying the Correct ITR Form for ITR filing:The first […]
Section 153C of Income Tax Act, 1961, is a provision that empowers the tax authorities to issue a notice to assess the income of any person other than the one searched or against whom a requisition is made. This provision has significant implications for taxpayers in India, and it is important to understand the procedure […]
01
Jun
Jun
Relaxation in paying additional fees in case of delay in filing Form 11(Annual Return) by Limited Liability Partnerships up to 30th June, 2022 in view of transition from version-2 of MCA-21 to version-3 and to promote compliance on part of LLPs. Kartik M Jain and Associates,Chartered Accountants is a practicing CA in Pune is […]
24
Oct
Oct
Central Board of Direct Taxes have extended the due dates for filling of Income Tax Returns on Saturday, 24th October, due to the constraints faced by the taxpayers due to COVID -19 pandemic. Along with the direct taxes filing date the dates for filing annual GST Returns and GST audit for FY 2018-19 has also […]
02
Oct
Oct
Wrong interpretation / understanding / procedure of TCS on Consideration for sale of goods under newly introduced section 206C(1H) effective from 01-Oct- 2020. Most of the experts / businessmen have adopted following process. They (Sellers) have modified their billing software to add one more line to add TCS amount in final bill amount […]
29
Sep
Sep
All about TCS on sale of Goods [newly inserted Section 206C(1H)] effective from 01.10.2020 Introduction to TCS (Tax collection at source) Tax Collected at Source (TCS) is the tax payable by a seller which he bills on to the from the buyer at the time of sale and is payable into the Government Treasury on […]
25
Sep
Sep
A Company is an artificial judicial person created by law having separate legal entity, perpetual succession and limited liability. It is an association of persons having separate legal existence from the persons forming it. Unlike some of the other forms of business enterprises the ownership and management of a company are separated. Shareholders by contributing […]
15
Sep
Sep
Udyam registration provides a simplified platform for the registration of Medium, Small and Micro enterprises. Udyam Registration also known as MSME Registration is nothing but a government registration that is provided along with a recognition certificate and a unique number. This is to certify small/medium businesses or enterprises. The applicant must have a valid Aadhar […]
12
Sep
Sep
Permanent Account Number (PAN) is a unique identification code given by the Income tax department. PAN is essential for various purposes like filing the income tax returns, opening bank account, GST registration, etc. The process of procuring a physical PAN card is lengthy and requires a minimum of 15 days. To overcome these difficulties the […]
