All companies registered before 31st December 2017 are required to file e-Form ACTIVE (Active Company Tagging Identities and Verification) – INC-22A on or before 25th April 2019 . Requirements for Filing ACTIVE Form (a) DIN of all the directors shall be active while filing form INC-22A (b) Form ADT-1 for appointment of auditor should have […]
What is the –ROC Form INC – 22A (Active Form) Read More »
In India, two-wheelers i.e. motorcycles, scooters, etc. are probably the most chosen mode for daily transportation. Not having a right insurance can turn out to be even more expensive during major accidents. People get confused between the third party and comprehensive two-wheeler insurance. Let’s see what the difference between the two is and which is
Which is better Third Party Two Wheeler Insurance or Comprehensive Coverage? Read More »
Proposed New GST Returns Monthly/Quarterly (NORMAL) return-Form GST RET-1 Quarterly SAHAJ Return-Form GST RET-2 Quarterly SUGAM Return-Form GST RET-3 Old GST Returns to be removed GSTR – 1 i.e. detail of outward supplies GSTR – 2A i.e Auto-populated detail of inwards supplies GSTR – 3B i.e summary return containing summary of Outward supplies, details of
All abount new GST Return Forms Normal, Sahaj and Sugam Read More »
ITC Rules in GSTR 3B for set off Tax credit The government has amended CGST Act 2017 vide CGST Amendment Act 2018 with various changes w.e.f and one of the important amendment was made in Section 49 of CGST Act by introducing new section 49A & 49B after the section 49, which is as under: 49A. Notwithstanding anything
How to adjust Input Tax Credit with GST Payable as per New Rules ? Read More »
The issue of availability of ITC on Free Sample and Gifts distributed As per Section 7(1)(a) of CGST Act, supply includes all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in
Treatment of sales promotion scheme under GST Read More »
Any person responsible for paying any sum to a resident transferor by way of consideration for transfer of an immovable property (i.e. building or part of building or any land other than agricultural land) is liable to deduct tax at source u/s 194-IA. In simple words, as per this section the buyer has to pay
TDS on Sale/Purchase of Immovable Property-194IA Read More »
TAN number is a specific number allotted for Deduction/ Collection of TDS and payment of same into Govt A/c by a person, who is making payment in relation to a business purpose/ transaction. The TAN No provides a unique Identification to Tax Deductor / Collector and help in the tracking of transactions, like payment of taxes and
What is TAN Number in Income Tax? Read More »
What is Advance Tax ? Advance tax means income tax should be paid in advance instead of lump sum payment at year end. It is also known as pay as you earn tax. These payments have to be made in instalments as per due dates provided by the income tax department. Who should pay Advance Tax? If
What is Advance Tax in Income Tax ? What is the due date Advance Tax? Read More »
What is Gratuity? Gratuity is defined as a sum of money that is paid to the employee over and above the decided salary at the time of his retirement Who is eligible for Gratuity? An employee is eligible to receive a gratuity only if he has completed five years of employment with an organization. However,
What is the Gratuity ? Who is Eligible for Gratuity ? Read More »
Comparison of Liability declared and ITC claimed enabled in GST Portal The Goods and Service Tax Network (GSTN) has enabled a new functionality in the GST Portal “Comparison of Liability declared and Input Tax Credit claimed” What is Comparison of Liability declared and Input Tax Credit claimed The statement is called as Credit and Liability
GSTN has enabled a new functionality in the GST Portal Read More »
