Residential Status and Incidence of Tax on Income under Income Tax Act, 1961 The residential status of a person is required to be determined for each assessment year in order to determine the scope of total income. The basis of determination of residential status in respect of each person is laid down under the provisions…

Ever thought, how directors can get removed as under Companies Act, 2013? Read on to find out. A special notice under section 115 is required to be given to the company for removal of directors, at least 14 days before the date of meeting at which it is to be moved exclusive of the day on…

We are aware of the fact that, any person who is applying for the GST Registration has to file GST return online. To help you more with the procedure, we have mentioned most of the details in this article. So, without further ado, let us begin. As per CGST Act 2017, there are lots of the types of…

Ever wondered what procedure needs to be followed for deemed exports under GST? If your answer is yes, then we will help you to understand it better. So, let us begin. The central government on the recommendation of council, hereby notified that the following shall be treated as Deemed exports under GST vide Notification No.48/2017-…

This article will give you a glimpse on the GST audit.  Let us first have a short brief on GST. GST is an indirect tax imposed on goods and services. It had been introduced with the regime “one nation, one tax”. It has subsumed all the indirect taxes which were in force before, except some…

Annual Return Form GSTR 9 filing under GST has seen lot of issues recently especially regarding finalisation of the format itself! With over 6 parts and 19 sections, it is not an easy feat to fill each and every section when the data required for the same was not maintained from the inception. With only less than…

To most people, filing income tax returns is counted among the most unpleasant tasks. Filing returns is an obligation which you are tempted to ignore, yet attend to because it is a regulatory requirement. Filing of returns earns you the dignity of consciously contributing to the development of the nation. Why To File Income Tax…

Moving to a foreign country often proves to be a challenge and coming to terms with a new taxation system is one of the many significant factors contributing to this challenge. If you thought tax laws were meant only for persons belonging to a particular country, you thought wrong. An NRI is no exception. An…

Transactions between two or more companies/entities in India are governed and guided by a specific set of rules and laws. However, this is not in the case where transactions happen between two related entities overseas. There are separate sets of rules in various statutes in INDIA to guide these and to have control over such…

Ever since its recent hike, topics regarding GST (Goods and Services Tax) have been widely discussed. Especially, topics regarding GST registration and GST form. So, without much delay, we will tell you where and how can you register for GST. Where Can You Register For GST? Of course, much like most government registrations, this can…

We all are aware of the fact that we all have to pay tax. Usually, the amount of income tax depends on the income of the person. However, how much do we really know about the tax brackets? And what qualifies someone to enter the tax bracket? Let us find out. Income Tax Bracket The…

The audit of the accounts of the income taxpayer in pursuance of the requirement of section 44AB of Income Tax Act, 1961 by a chartered accountant is called tax audit. Tax Audit and its Legal Provisions As per section 44AB, it is compulsorily required for the following persons to compile with provisions for Tax Audits:…