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 […]
Tag Archives: Chartered Accountant in Pune
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 […]
18
Jun
Jun
Input tax credit (ITC) can be understood as a deduction on total GST payable by the businessman. ITC is availed by the businessman by paying GST on the purchases and other expenses incurred for the business, Thus while paying GST the ITC already paid in the course of Purchase and other expense is deducted and […]
19
Feb
Feb
Purpose of TDS The main purpose of TDS is to minimize the tax evasion. Through TDS the government can collect the tax at an early stage weather wholly or partially. Some people intentionally tend to evade tax by not disclosing their incomes on the other hand some people cannot show their taxable income due […]
19
Feb
Feb
TDS is applicable on sale of property. As per the Union Budget 2013 TDS is to be deducted on sale of property when the consideration exceeds Rs. 50,00,000. This provision is applicable to all the transaction being entered into from 1st June 2013. The TDS has to be paid on the entire amount and not […]
06
Sep
Sep
Introduction As per section 3 (1) of the Companies Act, 2013, a company may be formed for any lawful purposes in the form of a Private Limited Company with minimum of 2 persons Public Limited Company person with a minimum of 7 persons One Person Company In a country like India where sole proprietorship form […]
