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TDS on Payments to Non-Resident Sportsmen or Sports Association (Sec-194E)

ApplicabilityAny person whoPays money to a non-resident sportsman (including an athlete) or an entertainer (who is not an Indian citizen); orPayment of money to a sports institution or an association will be referred u/s 115BBA is required to deduct tax u/s 194E.Contributes artic[...]

One Person Company (OPC)

Articles about company incorporation from our Knowledge BankIncorporating a Company in IndiaIncorporating a LLP in IndiaIncorporating a Private Limited CompanyIntroduction:OPC is registered as a Private Company with one member, one nominee and may also have at least one dire[...]

GST Audit

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 b[...]

Changes in GST Annual Return Form GSTR 9

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 [...]

Vivad Se Vishwas Scheme, 2020

Purpose:Due to the significant rise in number of appeals pending disposal under Income Tax, which is burdensome on the Government preventing them from timely collection of revenue as well as for tax payers who has to spend time and resources on such appeals, the Finance[...]

Reverse Charge Mechanism on Rent-A-Cab Service

Since its introduction, the GST provisions have gone through many amendments from time to time. Recently issued Notification No. 22/2019-CT (R) dated 30.09.2019 clarifies the Reverse Charge (RCM) applicability on Rent-A-Cab Service. GST is payable under Reverse Charge Mechan[...]

All About Annual Filing by Companies With Registrar of Companies

Introduction: FORM AOC-4All companies under Companies Act 2013 are required to file annually Form AOC-4 (Financial Statement), AOC 4 XBRL (Financial Statement in extensible business reporting language), Form MGT-7(Annual Return), Form AOC-4 CFS (Companies which have Subsidiary/As[...]

Section 115BAA – New Tax Rate for Domestic Companies

IntroductionThe new section – Section 115BAA has been inserted in the Income Tax Act,1961 to give the benefit of a reduced corporate tax rate for the domestic companies. Section 115BAA states that domestic companies have the option to pay tax at a rate of 22% from the FY 2019-2[...]

Formation of Proprietory Concern

The sole proprietorship is the simplest form of business under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. A sole proprietorship can operate under [...]

Registration And Payments Under Karnataka Professional Tax

Profession tax is levied and collected by the State Governments in India and it is a Direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor, etc or any person who are into business such [...]


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