A contract or arrangement by a company with the person who is covered under Related Party (list is given below) with respect to— (a) sale, purchase, or supply of any goods or materials; (b) selling or otherwise disposing of, or…
Applicability of the Income Tax on the Domestic Indian Companies. In India, there are two tax schemes available for the India Domestic companies. Normal Tax Rates and Special Tax Rates. Under the Normal Tax Rates. Turnover of company Tax Rate…
Very Important Decisions were taken in the 50th GST Council meeting dated 11th July 2023. Brief for your quick access:
When it comes to tax saving, most people consider only those options that come under 80C, however, the truth is you can bring down your tax liability further by claiming tax deductions on the best available options. SECTION NATURE OF…
As per income tax laws, ITR must be filed if a resident individual’s total income during the financial year exceeds the basic exemption limit. Remember, the basic exemption limit for an individual depends on his/her age, provided he/she opts for…
MCA has issued the most awaited clarification to provide relaxation to the companies to hold their Annual General Meeting through Video Conference, this clarification beneficial to all those members who are neither available in India nor in position to travel…
The Food Safety and Standards Authority of India (FSSAI) is an autonomous authority that offers a food license to all food business operators (FBO) in India. All FBOs are required to get a license or registration and follow the rules…
Bill-to-ship-to transactions are a common practice in today’s business scenario. These transactions involve supplies where goods are to be delivered to the recipient on the instruction of a third party i.e. bill to. The Goods and Service Tax is an…
TDS Deduction from Salary- It is the liability of the employer to deduct tax at source from salary under section 192 of the Income Tax Act, 1961. Tax must be deducted at the average rate calculated based on the rates…
Under the GST law, the input tax credit can be availed by a registered person on goods/services used during business subject to satisfaction of conditions and restrictions set out therein. Accordingly, such a person can avail the ITC on the…