Using Offline Tool to prepare Form GSTR-4 Annual Return by Composition Taxpayers
An EXCEL based offline tool has been provided on GST portal for composition taxpayers to prepare their GSTR-4 Annual Return. 1.Steps to use the offline tool: Whether step is Online or Offline Step to be taken Offline Navigate to Downloads - Offline Tools - GSTR-4...
read moreFunctionality to file Revocation Application under Removal of Difficulty
In view of the Removal of Difficulty Order No. 01/2020 dated 25.06.2020, the restriction on filing revocation application, in case it was rejected, has been removed. Aggrieved taxpayers can file application for revocation of cancellation of registration once again....
read moreNewsletter for the month of July 2020
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read moreE-commerce business registration in India
If you are reading this article then probably you already have an e-commerce business idea in place. An e-commerce business registration includes various stages like Company incorporation Compliance pertaining to the type of business entity registered Registration and...
read moreAccounting outsource Services
Accounting outsource services can help your business realize significant benefits from top to bottom. We hope you found this e-book useful as you think through the financial and operational challenges in your business, and consider how outsourced accounting services...
read moreIncome Tax Return Due Date: FY:2019-20
As per the government announcement, "Due date for all income-tax return for FY 2019-20 will be extended from July 31 2020 and 31 October 31, 2020 to November 30, 2020 and tax audit from September 30, 2020 to 31st October 2020. The government in a press conference...
read moreBENEFITS OF PRIVATE TRUST AS THE BUSINESS UNIT
BENEFITS OF PRIVATE SPECIFIC / DISCRETIONARY TRUST AS THE BUSINESS UNIT Law Governing the Private Trust: All the Private Trusts are subject to and governed by the provisions of the Indian Trust Act 1882. of Partners / Directors / Members Trustees: In case of the...
read moreHow to Incorporate a Wholly Owned Subsidiary in India?
This article is intended to those companies or startups who have registered their companies outside India and want to operate in India as a part of foreign company. We advise that incorporating a company i.e. wholly owned company in India as one of the mode...
read moreQuestions to ask accounting outsource service provider
It’s critical to have strong financial and accounting systems in place—and leverage professionals who are capable of using them to ensure efficient and profitable operations. To help you identify the right talent, consider the following questions as part of your...
read moreDeduction of interest on education loan
Eligible Assessee: Individual Deduction on: Interest paid by assessee in the previous year Loan Taken from: Any Financial Institution or any approved charitable Institution Reason for Loan: Pursuing higher education for himself or for his relative Deduction of...
read moreHow to generate TDS certificate (form 16A)
Step – I: Placing Request through Traces Visit tdscpc.gov.in/ Login using TAN Go to Downloads -> Form 16A In Bulk PAN Download, Select the Applicable Financial Year, Quarter and Form type then Click Go Check the details in the next screen and click on submit Choose...
read moreSave Tax when you pay rent – HRA
You can save on tax if you pay rent for your house if you fall under either of the 2 situations: Situation – 1: Salaried Individual, who live in rented houses and get receive HRA Deduction of HRA is least of Actual HRA Received 50% of (Basic + DA) for individuals...
read moreforeign contribution and compliance by trust – FCRA
FCRA Registration: Every Trust needs to apply for registration under Section 6(1), Foreign Contribution (Regulation) Act, 2010 (“FCRA”), if it is desirous of accepting donations from foreign sources. Separate account for Foreign Contributions (FC A/c):If the Trust...
read moreDeductions for capital gain on sale of property
Deductions under section 54 us eligible to assessee who are Individual, HUF where capital gain is Long Term Capital Gains arising from sale of Property which Residential house Property Deductions under section 54 Eligible Assessee: Individual, HUF Capital Gains: Long...
read moreRegistration of Business in India by foreign company
The foreign companies also have the options of forming the following type of business entities: Liaison Office / Representative Office, Project Office, Branch Office, and Joint Venture Company Liaison Office / Representative Office A Liaison Office could be...
read moreWhat to look for in an accounting outsource firm?
Each business is different, so each one may require specialized skills or experience. Yet in our many years of providing accounting outsource services to small and midsize businesses, medical practices, nonprofit organizations, management companies and other entities...
read moreIncome Tax Deduction on Donation to PM Cares Fund
Basics of Section 80G It’s a good idea to open up your purse strings and give generously to the fightback against the corona virus. Your donations can not only help those in need, but it can also reduce your tax liability. The tax break under Section 80G allows...
read moreNewsletter for June 2020
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read moreProcedure for Formation of Limited Liability Partnership in India
A law to allow Limited Liability Partnership (LLP) in India has been enacted by the Parliament of India (Limited Liability Partnership (LLP) Act of 2008) LLP is an alternative corporate business entity that provides the benefits of limited liability of a company but...
read moreBusiness registration in India
The Indian promoters and the foreign promoters can form the following business entities: Private Limited Company, Public Limited Company, Limited Liability Partnership, Unlimited Company, Partnership The foreign companies also have the options of forming the...
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