FAQS on Form 35 under Income Tax act What is Form 35?If you are aggrieved by an order of an Assessing Officer (AO), you can file an appeal against the same before…
Category: International Taxation
FAQS on Form 35 Appeal to Income Tax Department before CIT(A)
FAQS on Form 35 under Income Tax act What is Form 35? If you are aggrieved by an order of an Assessing Officer (AO), you can file an appeal against the same…
FAQs on Outstanding Tax Demand Notice u/s 156
Frequently Asked Questions on Outstanding Demand Notice u/s 156 By which mode will I receive the demand notice from the IT department?You will receive an email from the IT department. The department…
FAQ’s On Composition Scheme under GST
Composition Scheme under GST- Question and Answers What is composition scheme ? Composition scheme is specially designed for small taxpayers, to get rid of complex GST framework and compliances. Small registered taxpayers…
Important FAQ’s on TCS Provisions of Section 206C
All About TCS Provisions of Section 206C What is mean by Tax Collected at Source (TCS)? As per section 206 of Income Tax Act, Tax Collected at Source (TCS) is a tax…
Important FAQ’s of TCS on Parking Lot, Toll Plaza or Mining and Quarrying
Section 206C(1C): TCS on Parking Lot, Toll Plaza or Mining and Quarrying What are the Nature of Transction Covered Section 206C(1C) ? Under section 206C(1C),TCS is appliacble if Leasing or licensing or…
Important FAQ’s of TCS on Sale of any Motor Vehicle
Section 206C(1F): TCS on Sale of any Motor Vehicle of the value exceeding Rs.10 Lakh Specify the Provisions of Section 206C(1F) ? Section 206C(1F) has been brought to cover all transactions of…
Important FAQ’s of TCS on Foreign Remittance Through Liberalized Remittance Scheme
Section 206C(1G) :”TCS on Foreign Remittance Through Liberalised Remittance Scheme (LRS) What are the Rates applicable under section 206C(1G) ? What is Liberalised Remittance Scheme (LRS) Scheme of RBI ? Under LRS…
Important FAQ’s of TCS on Sale of Goods
Section- 206C (1H) : TCS on Sale of Goods What is the Section 206C(1H) ? As per section Section 206C (1H), each seller who has received any amount in the form of…
TOP 20 FAQ’s on Leave Travel Allowance [ Latest ]
TOP 20 FAQ’s on Leave Travel Allowance (LTA) What is Leave Travel Allowance (LTA)? LTA (Leave Travel Allowance) is allowed by emplyer to employee for employees would take leave, enjoy their travel…
Section 166 of FA 2016: Collection & Recovery of Equalisation levy
Section 166 of FA 2016: Collection & Recovery of Equalisation levy : Every resident person carrying on Business or profession or a non-resident having Peramanent Establishment. in India shall deduct the equalisation…
Equalisation Levy: E-Commerce Operator (Section 165A )
Applicability of Section 165A: Service provider/Seller of goods is Non Resident E-Commerce Operator (E-commerce supply or services) Service Recipient/ Buyer of goods is a Resident in India. Sales/Turnover/gross receipts of E- commerce…
Equalisation Levy : Online Advertisement [Section 165 ]
Services covers under Section 165 : The following services are covered under Section 165: Online advertisement Any provision for digital advertising space or facilities service for the purpose of online advertisement. Conditions…
Section 163 of Finance Act 2016: Introduction to Equalisation Levy
Introduction Equalisation Levy was introduced in India in 2016, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India. It is aimed at taxing…
Section 245-OB | Board for Advance Rulings
Section 245T: Advance ruling to be void in certain circumstances : Where the BAR finds, on a representation made to it by the CIT/PCIT or otherwise, that an advance ruling has been…
