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Equalisation Levy: Recent Amendment in Equalisation levy

RECENT AMENDMENT IN EQUALISATION LEVY INTRODUCTION: Equalisation Levy was introduced in India in 2016, with the intention of taxation the digital transactions i.e. the income accruing to foreign e-commerce companies from India. It is aimed at taxing business to business transactions. Over the past few years, Information Technology has gone through an exponential expansion […]

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MGT-7 & MGT-7A: Filling of Annual Return of Companies

Leave a Comment / Company Law / Legal Suvidha

MGT-7 & MGT-7A: FILING OF ANNUAL RETURN OF COMPANIES Every company needs to file an annual return of the company with the registrar of companies (ROC). The annual return contains all the information related to the shareholders, directors, debenture holders, and shareholding pattern as of the last day of the financial year. Every company

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Importance of filing Income Tax Return

Leave a Comment / Income Tax / Legal Suvidha

IMPORTANCE OF FILING INCOME TAX RETURN What’s an ITR? ITR stands for Income Tax Return. A form you have to submit to the Income Tax Department that carries information about your annual income and the taxes you’re liable to pay income during the year. Why is it Important to file an ITR? Filing your ITR

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Artificial Intelligence: Meaning and its Importance

Leave a Comment / Corporate Law / Legal Suvidha

ARTIFICIAL INTELLIGENCE AND ITS IMPORTANCE INTRODUCTION: Artificial Intelligence in simple terms means an ability of a computer or a robot controlled by a computer to do tasks that are usually done by humans because they require human intelligence and discernment. Creating a chat box, MCA helps and improves the ease of doing business, resolve the

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Analysis of ITR-U filing and its Importance

Leave a Comment / Income Tax / Legal Suvidha

ANALYSIS OF ITR-U RETURN FILING AND ITS IMPORTANCE During Budget 2022, Nirmala Sitharaman announced that taxpayers may now file Updated Income Tax returns (ITR-U). The Finance Bill 2022 introduced subsection 8A to section 139 of the Income Tax Act, which allows taxpayers to file an Updated ITR if their earlier ITR contains omissions or errors.

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GRATUITY: Taxation and Legal Provisions

Leave a Comment / Income Tax / Legal Suvidha

TAXATION AND LEGAL PROVISIONS ON GRATUITY What is Gratuity? Gratuity’ is a retirement benefit. Gratuity Act, 1972 act provides retirement benefit to the workman who have rendered long service to the employer. Gratuity is a reward for long and meritorious service. Earlier, it was not compulsory for an employer to reward his employee at

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GSTN: DEDUCTORS TO FILE FORM GSTR-7 BEFORE 10TH JULY

Leave a Comment / GST / Legal Suvidha

GSTN: DEDUCTORS TO FILE FORM GSTR-7 BEFORE 10TH JULY What is GSTR-7? GSTR-7 is a return filed by the individual who deducts TDS under GST. GSTR-7 contains details of the TDS deducted, TDS liability payable and paid, TDS refund claimed, etc. Who can deduct TDS under GST? As per the GST law, the following

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GSTR-3B: CHANGES IN REPORTING AND FILING

Leave a Comment / GST / Legal Suvidha

GSTR-3B: CHANGES IN REPORTING AND FILING CBIC has notified a series of changes in filing of its existing return in Form GSTR-3B. Form GSTR-3B is the return through which the Government collects tax from its taxpayers. 1) CBIC has introduced a new table 3.1.1 in which taxpayers will be required to provide details about supplies

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Latest GST Notification

Leave a Comment / GST / Legal Suvidha

Latest GST Notification A bunch of notifications has been issued on 05.07.2022 by the CBIC to give effect to some of the recommendations of the 47th GST Council Meeting held in Chandigarh on 29th & 30th June, 2022. Summary of the same is hereunder: Notification No. 10/2022 – Central Tax has been issued to notify

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A Brief Summary on E-Invoice under GST

Leave a Comment / GST / Legal Suvidha

A BRIEF SUMMARY ON E-INVOICE UNDER GST What is e-Invoice? E-invoice full form is electronic invoice. E-invoice is a digital document, endless trail of paperwork, exchanged between a buyer and suppliers. It’s validated by the Government tax portal. E-invoice related to only registered parties’ business to business (B2B), not (Business to Consumers Small) B2CS. Analysis

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Equalisation Levy: Recent Amendment in Equalisation levy

MGT-7 & MGT-7A: Filling of Annual Return of Companies

Importance of filing Income Tax Return

Artificial Intelligence: Meaning and its Importance

Analysis of ITR-U filing and its Importance

GRATUITY: Taxation and Legal Provisions

GSTN: DEDUCTORS TO FILE FORM GSTR-7 BEFORE 10TH JULY

GSTR-3B: CHANGES IN REPORTING AND FILING

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A Brief Summary on E-Invoice under GST

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