TDS under GST law TDS is to be deducted if the total value of individual contract exceeds 2.5 lakhs at the rate of 2 percent on payments made to the supplier of taxable goods and/or services. No need of deduction of Tax is required when the location of supplier and place of supply is different…

Introduction A foreign company means any company or body corporate incorporated outside India which, has a place of business in India whether by itself or through an agent, physically or through electronic mode; and conducts any business activity in India in any other manner. Purpose of the eForm As per Sec 380(3) of the Companies…

Apostillation: An Apostille is a stamp of approval to authenticate the signature of the public official who has certified that the documents presented are true and correct. The Apostille then validates that the signature originates from an individual who has the authority to certify the original documents. The Apostilled documents can then be considered as legal…

The concept of “Perpetual Existence” is not a common feature of a Sole Proprietorship concern. Once the proprietor dies, the business is over! So one might ask, “is there no way a sole proprietorship business can achieve continuity?” Let’s say the proprietor willed his business concern to his legal heir and this heir continues it….

Project Insight is an initiative by the Income-Tax Department to mine big data from social media to scrutinize potential tax evaders. For example if you flaunt photos or videos of your recent exotic vacation trip or of a new expensive car that costs an arm on Facebook, Twitter or Instagram the IT Department will check…

Letter of Undertaking (LUT) According to the Notification no. 37/2017 Central Tax, any registered person who intends to supply goods /services to outside India or units covered under SEZ (Special Economic Zone) or developer of SEZ without payment of integrated tax (IGST) is required to furnish Letter of Undertaking (LUT) in FORM GST RFD-11 Applicability-…

Transfer of shares between two residents (of India) involves payment of consideration (buyer to the seller) and execution of share transfer deed. Share transfer deed to be duly stamped @ 0.25% of the consideration amount. When the transaction is between a resident and a non-resident, there are regulations concerning inward and outward remittance of funds,…

An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate…

Prohibition on acceptance of deposits from public: Section 73. (1) On and after the commencement of this Act, no company shall invite, accept or renew deposits under this Act from the public except in a manner provided under this Chapter: Provided that nothing in this sub-section shall apply to a banking company and non-banking financial company…

So if you are having a co owned House property, and you are looking for benefits which you will get in the form of deduction U/s 24 and 80C ? In this article we will discuss about benefits which you shall get from co owning the property: 1. Double Benefit for Deduction U/s 80C: Both the…

So you are an NRI and similar to many NRIs you are also having NRE/NRO account, In this article we will discuss about taxability of Interest earned on money kept in such accounts and basic difference between NRE/NRO Account. On first note let’s discuss about basic meaning of accounts: Non-Resident Rupee (NRE) Account The NRE…