Have you ever wondered how the accurate worth of a company or asset is determined? The answer lies in obtaining a Valuation Certificate. Let's explore the intricate world of valuation and understand its significance within the Indian context. What is a Valuation...
In India, for the purpose of income tax, there is “Pay as you earn scheme”. As per such scheme, every person is required to pay tax through TDS/ TCS and advance tax, during the year only, in which the income has been earned. The rates of TDS are pre-determined and...
Can you imagine a situation, when even before receiving your hard earned money in your bank account, government demands tax on such income twice the amount for which you are actually liable? Yes, such a situation can happen when you are having your income from outside...
Goods and service tax is a major factor which has a potential to cover the economic base of the country along with its sidelines also India is not just one of the biggest performing nations for generics however, additionally encountering a blast in remedial...
The Finance Bill 2022 has proposed two completely new TDS sections, 194R and 194S, in the Income Tax Act, to be made effective from 1.7.2022. Looking at the swift pace, with which the new TDS sections, are being inserted by the Legislature, year after year, in Chapter...
July 1st of every year will be the CA day. The 74th Anniversary of its foundation will be celebrated by the Institute of Chartered Accountants of India (ICAI) on July 1st as it is 2022. To date, in a massive country like India, a country with at least a billion...
Section 194H contains guidelines about tax deductions on the amount paid as brokerage or commission. Entities making a payment as commission or brokerage to a resident have to make a tax deduction at a 5% rate. This amount has to exceed Rs. 15,000 in one...
As of now the LLP Services have been discontinued on V2 portal and have been migrated to Version 3 (V3) portal. V3 is an enhanced version of the V2 portal and is presently live only for LLP’s. The V3 portal presently enables the following for LLP’s. -Login & user...
The Finance Act, 2022 substituted subsection (4) and (5) of section 12AB with a new subsection (4) which provides a list of ‘Specified Violation‘ if undertaken by the assessee registered or provisionally registered under section 12AB, the Principal Commissioner or...
