Tax Updates
Must know Income Tax Changes which effective from 01-04-2017 Aadhaar Cards mandatory for the filling of income tax returns. Persons who come under the income tax bracket Rs 2.5 Lakh to Rs 5 Lakh, tax rates for the same has been reduced from 10 percent to 5 percent. Tax Rebate under section 87A is Rs …
Understanding the Concept of Supply under GST In this Article, we would like to give you the basis understanding about the term “Supply” under the GST Law. As we know that tax is to be levied at taxable event. The taxable event under existing indirect tax laws is ‘manufacture’ for levy of excise duty, ‘Sale’ …
Schedule III GST ACT Schedule III – Activities or Transactions which shall be treated neither as a supply of goods nor a supply of services. 1. Services by an employee to the employer in the course of or in relation to his employment. 2. Services by any Court or Tribunal established under any law for …
Schedule II GST ACT Schedule II – Matters to be treated as Supply of Goods or Services 1. Transfer a) Any transfer of the title in goods is a supply of goods. b) Any transfer of goods or of right in goods or of undivided share in goods without the transfer of title thereof, is …
CA Final Revision Test Papers (RTP) for May 2017 Benefit of Revision Test Paper (RTP) With the help of RTP, students can understand standard of answers expected in the examination. RTP provides an opportunity for the students to find latest amendments and notifications relevant for the examination. Most of times Institute asking questions from RTP …
CA IPCC Revision Test Papers (RTP) for May 2017 Benefit of Revision Test Paper (RTP) With the help of RTP, students can understand standard of answers expected in the examination. RTP provides an opportunity for the students to find latest amendments and notifications relevant for the examination. Most of times Institute asking questions from RTP …
How to response Cash Deposit Notice Income tax department (ITD) has been started to send notice in respect of cash deposited by a person during the period of 09th November to 30th December 2016. Around 18 lakh persons have been identified by ITD whose cash transaction does not match with tax payer’s income tax profile. …
Highlights of Budget 2017 Impacting Salaried Persons A. Change in Tax Slabs and tax rebates: – 1. A new tax rate of 5% will be applicable for individuals having total income from 2.5 lacs to 5 lacs. 2. An additional surcharge @10% will be applicable for individuals having total income in the range of 50 lacs …
E-Commerce and GST Provisions in India Hello readers! In this article, we will give you a brief about the E-Commerce and GST Provisions in India and the impact of GST on E-Commerce industry. As you know, E-Commerce can be described supply of goods or services through electronic channels such as Amazon and flipkart etc. They …
Time of Supply of Goods / Services under GST In GST law, liability to pay CGST/SGST on the Goods / Services shall arise at the time of Supply of Goods / Services. In this Article, we will understand that how to determine time of supply for Goods / Services. 1. General Provision Time of Supply …
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