An unregistered buyer who decides to cancel the agreement to purchase a flat can claim GST refund paid by him from the builder or the government depending upon the timeline of the cancellation of such agreement.
The National Financial Reporting Authority (NFRA) in India has imposed a penalty of ₹300,000 on the statutory auditor of now-de-listed company SRS Ltd, along with a three-year ban on taking up statutory or internal audits of any company, for alleged professional misconduct and lapses in the FY18 audit of the company.
Every year, all company taxpayers need to file form MSME-1 by a notification dated 2nd November 2018 but it holds a huge significance this year as the payments would be disallowed by the Income Act authorities if payment is not made within 45 days.
What does Section 18 say?Section 18 of the CGST ACT 2017 talks about the Input Tax Credit availability under special circumstances such as in case of exempt sup...
Cybersecurity refers to the practices, technologies, and measures that are taken to protect digital systems, networks, and devices from cyber-attacks, data breaches, and other malicious activities. In today's increasingly digital world, cyber security has become a critical concern for individuals, businesses, and governments alike.
In this article, I will be discussing the new tax regime in India, comparing it with the old income tax regime, and explaining why the new regime is the government's favorite child.
NRI accounts are bank accounts opened by NRIs in India for various transactions, such as depositing foreign currency earnings, transferring funds to India, etc. These accounts can be in the form of NRE, NRO, or FCNR accounts.
If you FAIL to choose between the New and Old Tax Regime, the Employer will take the New Tax Regime as DEFAULT and deduct TDS under it.
Section 194D of the Income Tax Act requires tax to be deducted at source on any commission or reward paid for procuring insurance business.
Ocean freight is a process through which merchandise goods, cargo and commodities are transported by ships via shipping lines. Over 90% of all the world's trade is carried by sea.
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