The ITR forms have undergone some changes when compared to previous year ITR forms as notified by the government. These changes were made keeping in mind the changes made in income tax laws and Budget 2018 for FY 2018-19 and onwards. Here are nine changes in ITR forms 1 and 2 that you must aware …
Exports From India Schemes In order to encourage exports in India the Government provides certain benefits to exports to offset infrastructural inefficiencies and associated costs. These benefits are provided to both service providers and export of goods. There are two schemes to avail benefits namely Merchandise Exports from India Scheme (MEIS). Service Exports from India …
“Director Identification Number” (DIN) means an identification number allotted by the Central Government to any individual, intending to be appointed as director or to any existing director of a company, for the purpose of his identification as a director of a company: Provided further that “Director Identification Number” (DIN) includes the Designated Partnership Identification Number …
Deduction under section 80EE can be claimed by first-time home buyers for the amount they pay as interest on home loan. Taxpayer can claim a deduction of up to Rs. 50,000 per FY as per Section 80EE.This deduction can be claimed over and above the deduction of Section 24 which is Rs. 2,00,000. Eligibility: The …
A DTAA is a TAX treaty signed between two or more countries. Treaty– A tax treaty is a bilateral agreement made by two countries to resolve issues involving double taxation on income. Agreement generally determine the amount of tax that a country can apply to a taxpayer’s income, capital, estate, and wealth. Objective: It’s main …
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 …