The introduction of Form 15CA and Form 15CB in the Income Tax Act of India was primarily aimed at strengthening tax compliance and enhancing transparency in foreign remittances.
For a taxpayer, it is essential to determine whether the tax paid on the inward supplies is eligible as Input Tax Credit (ITC) or shall fall within the ambit of ineligible ITC. Section 17(5) of CGST Act 2017 provides for cases wherein a taxpayer would not be entitled to claim ITC unless it falls within the exceptions as provided.
We will discuss each type of assessment as provided in income tax act 1961 in detail in this article.
In India, we follow a financial year where the year starts on the 1st of April and ends on the 31st of March. As the name suggests, this is tied in with various financial reporting and accounting purposes.
Blocked credit refers to the input tax credit that cannot be claimed by a taxpayer under the GST regime. Input tax credit is the tax paid on inputs, i.e., goods and services that are used in the course of business, which can be set off against the output tax liability of the taxpayer.
Employee Stock OptionPursuant to clause (b) of Sub Section (1) of Section 62 of Companies Act, 2013, the Company can offer shares through employee stock option ...
In this article, we will discuss in depth about audit of branch of bank.
At its core, a trademark is a unique identifier that distinguishes the goods or services of one entity from those of others in the marketplace. It can take various forms, including brand names, logos, slogans, and even sounds or colours.
Managing finances, inventories, and compliance is tough in today's fast-paced corporate world. TallyPrime, the latest from Tally Solutions, simplifies business processes, helping firms run smoother. What makes TallyPrime a game-changer? Let's find out.
Under the GST regime, export can be done in two ways
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