Taxation
How to Prepare and file Income tax Return ?
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Introduction of GST would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax and allowing set-off of prior-stage taxes, it would mitigate the ill effects of cascading and pave the way Read more…
India is a federal country where both the Center and the States have been assigned the powers to levy and collect taxes through appropriate legislation.Dual GST gives the same legal and systematic approach for the country to collect the tax. (more…)
GST Bills will deal with Central GST on supplies (Goods and services), Integrated GST for regulating transaction between two states, GST rules for union territory and rules for compensation that will issued by Central to respective states for loss of revenue due to implementation of GST.
With time coming closer to implement GST laws, finance ministry has finally published Draft Invoice rules for GST and Draft Invoicing format under GST laws. Original Text of Draft are as follow: DRAFT GOODS AND SERVICES TAX – INVOICE RULES, 20– Note: Corresponding changes in the Model GST Law are Read more…
Individual Tax slab rate for FY 2016-17 and FY 2017-18 with illustration After introduction of Budget 2017, it has given Individual tax payers some significant relief for financial year 2017-18. We have presented below the scenario how the tax slabs for Individual taxation will change from finaicial year 2016-17 to Read more…
As you are aware that Union finance minister Arun Jaitely presented Finance Budget 2017 on 1st January 2017 with some exciting announcements for Individuals and Industry. Below are the Important take away from the Union Budget 2017 for you ready reference. For Individual Reduces income tax rate from 10% Read more…
TDS RATE ON ROYALTY AND FEES FOR TECHNICAL SERVICES paid to Non-Resident, Amendment by Budget 2015 under different scenario. Effective for F.Y.2015-16. If treaty rate more than 10%: Effective Rate PAN = 10% +EC and SHEC 10.30% No PAN = 20% +EC and SHEC 20.60% If treaty rate less Read more…
Friends Export payments in India is generally governed by RBI and FEMA (Foreign Exchange Management Act) . Here we present consolidate guidelines from RBI updated till July 01, 2014 , which will help you to get answer to most common questions faced by you while dealing in foreign currency in Export transaction. Read more…
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED IN THE MEETING OF BOARD OF DIRECTORS OF XYZ PRIVATE LIMITED HELD ON XXth of XXXX, 20XX “RESOLVED THAT MR. ABC be and are hereby severally/ jointly authorized on behalf of the Company to do all the things and matters on behalf of the Read more…
Now Service Tax Registration with service tax department got easier and simpler with new procedure for registration. New procedure provide for online application for registration from www.aces.gov.in in from ST- 1, After online application registration is granted in from ST-2 ,within 2days of application, ST- 2 issued online will not Read more…
following changes has been made to reverse charge mechanism by budget 2015 1. Manpower supply and security services in full reverse charge (W.E.F. 1ST April 2015) Presently Partial Reverse Charge is applicable in case of Manpower Supply and Security Service i.e. 50% payable by Service provider and balance 50% by Read more…