TDS under Section 194J has been one of the most talked about and puzzling things. However, is it really that puzzling or just tedious? Let us find out. Section 194J of the Income Tax Act of 1961, states that the Deductor should deduct TDS on professional fees paid by him to a resident exceeding Rs. 30,000/-. Deductor …
by MSAadmin 
Ever wondered how much remuneration or interest to partner is allowable in a Limited Liability Partnership (LLP)? Yes, then this article is definitely for you. So, without further ado, let us get started with the article. Interest payable to partners shall not exceed 12% per annum. Remuneration payable to partners shall not exceed the following …
by MSAadmin 
Ever wondered how foreign income is different from Indian income? Let us find out. Indian Income Any of the following three is an Indian income: i) If income is received (or deemed to be received) in India during the previous year and at the same time it accrues (or arises or is deemed to accrue …
by MSAadmin 
Section 24 deductions from House Property Income is one of the most discussed topics. However, there are a lot of things about Section 24 that are not necessarily public knowledge. So, to help you out here is our two cents on Section 24 from House Property Income. Income from House Property is possible in these …
by MSAadmin 
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 …
by MSAadmin 
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 …
by MSAadmin 
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 …
by MSAadmin 
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- …
by MSAadmin 
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 …
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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 …
by MSAadmin