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Provident Fund

In 1952, the PF or EPF scheme was introduced under the Employee’s Provident Fund and Miscellaneous Act. All the rules and regulations are defined by the Employee Provident Fund Organisation. The EPFO’s activities are managed by the Ministry of Labour and Employment.In this pr[...]

Published Date: 18-Mar-2020 10:30 AM

ITC on Construction Materials Used for Construction of Immovable Property

As per Sec 16(1) of CGST act, it has put forth that every registered person is eligible to take credit of input tax charged on any supply of goods and services or both to him which are used or intended to be used in the course of business or furtherance of business. Whatever amou[...]

Published Date: 17-Mar-2020 10:09 AM

Procedure of Incorporating LLP

Introduction:There are various forms of business entities in India, like the formation of a sole proprietorship, HUF, Partnership Firm, Limited Liability Partnership, One Person Company, Private Limited Company, Public Limited Company, etc.LLP is a corporate business vehicle that[...]

Published Date: 05-Mar-2020 11:33 AM

Formation of Partnership Firm

In India, we have a definite law that covers all aspects and functioning of a Partnership. Two or more people, when come together with a common idea of business by infusing the sources and funds together with the common goal of earning profit is termed as Partnership. Partnership[...]

Published Date: 05-Mar-2020 11:13 AM

Exemption Under Section 54EC

Capital Asset:Capital Asset includes property of any kind, whether movable or immovable, tangible or intangible, fixed or circulating. Some of the examples of Capital assets are land, building, plant and machinery, motor car, jewelry, furniture, patent, trademarks, share, debentu[...]

Published Date: 04-Mar-2020 04:01 PM

E-Assessment Scheme

This scheme seeks to eliminate the interface between the taxpayer and the income tax department.Structure of E-AssessmentA. Notice assigned directly to the assessee  by E-Assessment Centre.Notice Under Sec 143(2) would be served by the Income Tax Department to the taxpa[...]

Published Date: 04-Mar-2020 03:04 PM

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[...]

Published Date: 21-Feb-2020 12:04 PM

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[...]

Published Date: 19-Feb-2020 10:59 AM

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[...]

Published Date: 17-Feb-2020 03:43 PM

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 [...]

Published Date: 17-Feb-2020 03:31 PM

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