What is Job work? Job-work means processing of input or unfinished goods. GST makes the Principal(the owner of the goods) to take care about compliance on behalf of the job-worker, considering the fact that Job-work is often a MSME sector and the same not able to comply with the structure of tax. What is Job work Under GST? […]
What is Job Work under GST ? Read More »
What is TDS Section 194N Under Income Tax Act? TDS Section 194N is applicable if cash withdrawals of more than Rs 1 crore during a financial year. This section applied to all the sum of money or an aggregate of sums withdrawn from a in a financial year. The section will apply to withdrawals made
Bank Guarantee A bank guarantee is a guarantee from a lending institution ensuring the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank covers it. A bank guarantee enables the customer, or debtor, to acquire goods, buy equipment or draw down Loans, and thereby expand business activity.
Goods and Service Tax (GST) most commonly known as GST was introduced in India on 1st July 2017. Most of you might have seen and heard about GST a lot these days, and many of you might be keen to know what GST actually is. In this guide, we will be clearing your views about
Q 1. What is Goods and Services Tax (GST)? Ans. It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition
What is Goods and Services Tax (GST) | FAQ on Goods and Service Tax (GST). Read More »
The TDS compliance of the AY 2020-21 & FY 2019-20 started from 1-4-2019, I Prepared the brief about TDS and tax provision along with important details. TDS stands for tax deducted at source. As per the Income Tax Act, any company or person making a payment is required to deduct tax at source if the
TDS rate chart of FY 2019-20 & AY 2020-21 Read More »
Revised Income Tax Slabs 0-2,50,000 0% 2,50,000-5,00,000 5% 5,00,000-7,50,000 10% 7,50,000-10,00,000 15% 10,00,000-12,50,000 20% 12,50,000-15,00,000 25% 15,00,000 above 30% – 10% for income between Rs 5 lakh-7.5 lakh against 20%. – 15% for income between Rs 7.5 lakh-10 lakh against 20% – 20% for income between Rs 10-12.5 lakh against 30% – 25% for income
Budget Budget 2020 of the second term of the Narendra Modi government will be presented on Saturday. It is also called the General Budget or Union Budget. But, the common man must understand what happens in this budget and what happens in it. All kinds of information are given in the ‘Budget at a Glance
INTRODUCTION Bank Guarantee is an agreement between three parties Bank, Beneficiary & Applicant. This can be used to essentially ensure a buyer or seller from loss or damage due to nonperformance by the other party in a contract. Three parties involved in Bank Gurantees. 1.Bank (Guarantor): The bank issues B.G on the receipt of the
Ministry of Corporate Affairs has provided exemption to private companies through Companies (Amendment) Act, 2015, wherein the requirement for minimum paid up capital was removed. Central Registration Centre(CRC) was established by MCA under Section 396 of the Companies Act, 2013 (Act) vide notification dated 22.01.2016 in an initiative of Government Process Re-engineering (GPR)
