Central Government has notified Equalisation levy (Amendment) Rules, 2020 vide Notification No. 87/2020 / F. No. 370142/21/2020-TPL Dated 28th October, 2020 Notification-87/2020 Equalisation Levy EXTRACT OF NOTIFICATION CBDT Notification No. 87/2020: EQUALISATION LEVY S.O. 3865(E).—In exercise of the powers conferred by sub-section (1) and sub-section (2) of Section 179 of the Finance Act,...
ICAI ISSUES CHECKLIST FOR TAX AUDIT UNDER SECTION 44AB ICAI has designed checklist to assist the practicing members in in enhancing the quality of tax audit under section 44AB of the Income tax Act, 1961. It is result of coordinated effort of Direct Taxes Committee and the Taxation Audit Quality...
GST e-Invoice – Date of Launch ‘e-invoicing’ for certain classes of taxpayers has come into effect from 1-10-2020. GST e-Invoice – Relaxation Keeping in view the hardships faced by the taxpayers due to COVID-19 lockdown and as some of these taxpayers are still not ready, as a last chance, Government had given...
GST Registration Aadhar authentication While attempting GST registration on GSTN portal with the help of Aadhaar authentication has been explained below: Aadhaar Authentication process has been introduced, for the persons applying for GST registration as Normal Taxpayer/ Composition/ Casual Taxable Person/ Input Service Distributor (ISD)/ SEZ Developer/ SEZ Unit etc, in...
What is Startup Pitch Deck Pitch Deck are concise and crisp presentation either to show case your ideas, product or business model to get funded by investors. This is important step in a startup journey to raise funds or pitch a idea. Startup Pitch Deck Mistakes Pitch Deck can be prepared...
GSTR-CMP-08: Filing NIL Return through SMS on GST Portal WHAT IS CMP-08 GST RETURN CMP-08 is a quarterly GST return to be filed by Composite Dealer after quantifying the amount of GST payable by the composite dealer. File GSTR-CMP-08 NIL return by SMS STEPS TO FILE NIL CMP-08 GST RETURN BY SMS The...
EPFO recently launched the EPF Whatsapp Helpline Numbers of all India Regional EPFO Offices. This initiative is launched under its series of Nirbadh initiatives aimed at ensuring seamless and uninterrupted service delivery to subscribers. EPFO Whatsapp Helpline Number Whatsapp has emerged as a popular means of communication, further this initiative...
The provisions of section 44AD of Income Tax Act 1961 prescribes procedure for computing business profits under presumptive basis. SECTION 44AD PRESUMPTIVE TAXATION Person eligible to opt for section 44AD The following is list of persons eligible to opt for section 44AD presumptive taxation Individuals HUF Partnership Firms (excluding LLP (limited liability partnership) Business...
The provisions of section 44AE of Income Tax Act 1961 prescribes procedure for computing business profits under presumptive basis for small taxpayers engaged in the business of plying, hiring and leasing of goods carriage. SECTION 44AE PRESUMPTIVE TAXATION Person eligible to opt for section 44AE presumptive taxation The following is list...
Know the procedure on ‘how to download TAN allotment letter’. WHAT IS TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER (TAN) A Tax Deduction and Collection Account Number (TAN) is a ten-character alphanumeric allotted by the Indian Income Tax Department issued to person required to deducted or collect tax on payments made by...
