The 33rd Meeting of the GST Council was held on 24th February, 2019 at 2 P.M. at New Delhi First the 33rd meeting of the Council was decided to be held on 20th February, 2019 via video conferencing, however the… Read More
Things to Consider While Making Tax saving Investments
BUDGET 2019 HIGHLIGHTS
Individuals having income upto Rs. 5 lakh are no longer required to pay taxes. Standard deduction provided to salaried employees earlier Rs. 40,000 has now been raised to Rs. 50,000/- Threshold limit for TDS deduction u/s 194I has been raised… Read More
SECTION 8 COMPANY
Definition As per section 8 of the Companies Act, 2013, such companies are defined as the companies whose objectives are to promote the fields of arts, commerce, science, research, education, sports, charity, social welfare, religion, environment protection or other related… Read More
GST on Rent
According to the GST act, renting of immovable property will be treated as supply of service under GST. However, in GST regime certain types of rent will attract GST. In this article, we look at types of rent that attract… Read More
TDS on Rent Section 194I
Persons required to deducted Tax – Any person who is responsible for paying rent to a resident in excess of Rs. 1,80,000/- for a particular financial year is required to deduct tax under this section. Tax is to be deducted… Read More
All about Dir-11 and Dir-12
All about Dir-11 and Dir-12 As per Sections 7(1) (c), 168 & 170 (2) of the Companies Act, 2013, in case of appointment, resignation or change in designation of a director Form Dir-12 is required to be filed by the… Read More
SIMPLIFIED RETURNS UNDER GST
In an effort to simplify the filing process and increase tax compliance under GST, the GST Council has approved a new return filing process. This filing process is expected to come into effect from 1st April, 2019. Here’s what you… Read More
ANNUAL RETURN UNDER GOODS AND SERVICE TAX ACT, GSTR-9
Annual Return under GST 1. What is Annual Return GSTR-9 The GST department has mandated form GSTR-9 Annual Return under GST regime to be filed annual by all registered taxpayers who are registered under Goods and Service Tax act including… Read More
Benefits of 12AA and 80G in an NGO
The various benefits of section 12AA Registration are enumerated as below: The income applied for charitable or religious purpose will be considered as application of income i.e. expenditure incurred for charitable and religious purpose will be allowed while… Read More