There are number of small taxpayers in India who finds it difficult to follow the complicated tax laws compliance requirements completely, because of their small number of transactions or limited number of transactions. There cost of tax managements comes to… Read More
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Calculation of Input Tax Credit under GST
Though the Government has set high rates of GST on some products and services, the impact of GST would not effect the final prices much because of the input credit claim. Take a look at the calculation of Input Tax… Read More
Income Tax Department will take action against taxpayers violating the Rs. 2 lakhs limit
The income tax department has recently warned taxpayers involved in violating the cash transaction limit of Rs. 2 lakh or more and said that the receiver of the amount will penalized with an equal amount as penatly. The income tax… Read More
Non-Banking Finance Company Registration in Delhi
Non-Banking Finance Company is a fast emerging financial system in India. Its a type of financial institutions (other than commercial and co-operative banks) doing the work of financial intermediation in number of ways like accepting deposits, making loans and advances,… Read More
Aadhaar mandatory for ITR filing
The Income Tax Department has made it mandatory for the Resident Individuals to qoute their Adhaar or enrollment id mandatorily for the Assessment Year 2017-18. The change have been mandated by the Finance Bill 2017 to make it mandatory for… Read More
Statement on Financial transaction (SFT)
According to Section 285BA of the Income Tax Act, 1961, a statement for financial transactions (SFT) need to be filed for the transactions prescribed under Rule 114E of the Income Tax Rules, 1962. The due date of filing of Statement… Read More
Income Tax Department facilitates to correct the errors in Adhaar and PAN
The income tax department has recently went under launch of an e-facility to correct the errors in the database of PAN and Adhaar. Further the department has launched the facility to link the biometric identifier Aadhaar with PAN. The department… Read More
GST will Rule out from July, 2017
While attending the African Development Bank’s annual meet on tuesday, the Finance Minister Mr. Arun Jaitley clarified that there is no doubt that the GST will rule out in India from July 1, 2017. Jaitley also said that in the… Read More
GST Enrolment
The GST is geared up for launching on July 1, 2017, according to the recent reports it has been came to notice that only 34% Service Tax Assesees have been enroled for GST. The GST enrolment percentage for VAT and… Read More
One Person Company Registration in Delhi
The Companies Act, 2013 introduced the concept of one person company to take one step further in providing the more convenience in private limited company registration in India and introduced some relaxations to registration requirements of a private limited company… Read More