CBIC has issued Notification No's 06/2021 - Central Tax (Rate) to 12/2021 - Central Tax (Rate) to give effect to changes recommended in the rate of goods and services by the 45th Council Meet.
A minimum of 8 hour study should be practised considering the volume of portions to be covered. Set a realistic goal every day. Setting unrealistic goals will put down your confidence.
CBIC has further amended Notification No. 12/2017-Central Tax (Rate) dated June 28, 2017 ("Services exemption notification"), in order to adhere to the recommendations of the 45th GST Council Meeting.
Income taxes as per the Indian Accounting Standard 12 include both domestic and foreign taxes, which are based on taxable profits. It also includes withholding taxes.
Section 68 is a charging section, thus, if it is applicable, the assessee will not only be liable to pay the taxes but also penalty under section 271(1) (c) of the Income Tax Act, 1961.
If Statutory Audit is exempted then there will be no check on business transactions and such exemption will lead to an emergence of spurious companies within MSMCs.
A lot of you would be watching these so-called motivational videos and probably feel a lot pump when you watch them. But how long does that last? Ever given a thought? 1 hour or maybe a little more.
Section 115QA provides that a domestic company distributing its income through buy back of shares will have to pay income tax/distribution tax @20% (surcharge @12% and education chess @4%).
Just because it looks similar or sounds similar, does not mean it's the same. One has to go deeper before investing their hard earned money. If you are not an expert in it, get professional guidance.
A Special Economic Zone (SEZ) is a zone wherein businesses enjoy simpler tax and easier legal difficulties. It is located in a country’s national borders only, but they are treated as foreign territory for tax purpose.
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