To ensure that the assessment is carried out in a consistent and well-organized way, each taxpayer is assigned a jurisdictional Assessing Officer based on the address listed in his Permanent Account Number (PAN Card) record and his income. Any communication between the income tax department and the taxpayer, as well […]
The CBDT (Central Board of Direct Taxes), through a circular dated April 13, 2020, announced that employers will have to deduct TDS from salary for FY2020-21 as per the tax regime – new or old – selected by the employee. If an employee wants to get his salary deducted through the new tax regime, then he/she […]
The E-way bill registration is an electronic waybill that can be created on the e-Way Bill Portal for the transportation of goods. Without an e-way bill created on ewaybillgst.gov.in, a GST registered individual cannot transport goods in a vehicle with a value exceeding Rs. 50,000 (Single Invoice/bill/delivery challan).
Alternatively, an E-way bill can be created or canceled […]
Transfer pricing standards apply to foreign transactions as well as some domestic transactions between related businesses (AE). The rules and methods for pricing transactions within and between enterprises under common ownership or control are referred to as transfer pricing in taxation and accounting.
Profits resulting from such transactions must be measured using the arm’s length price […]
After the independence of India in 1947, the Indian Income Tax Act 1922 was the primary legislation governing the charge of direct taxes. With the Nehru-led Government in power, the inclination in the economy in the initial years after independence was towards greater socialism. There was an advanced taxation […]
GST Registration Certificate is given to GST-registered individuals. Those that have a GST registration certificate are expected to show it prominently in their place of business. The method of obtaining a GST certificate is relatively simple. In this post, we’ll go over how to get your GST certificate from the GST Portal.
