Posts Tagged: annual compliance

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Regular Scheme Under GST: Composition Scheme

Goods and Services Tax Act, which came into effect on 1st July 2017, has now replaced most of the indirect taxes in India, with a single tax.

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An exhaustive explanation on FORM MGT-14

When a company is planning to start up, the first step is to incorporate the business with the Registrar of Company (ROC). Companies incorporate themselves with the RoC because it is the body governing the companies and has to mandatorily keep information about companies. Therefore, every company has to notify ROC about the significant steps taken by the company by passing any resolutions at the Board meeting or by entering into an agreement.

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Tax Collected at source

Tax Collected at Source or TCS is a direct tax implemented by the seller on the buyer of certain goods. TCS is an income tax collected according to the provisions mentioned under Section 206C of the Income Tax Act, 1961. TCS is applicable on the purchase of only certain specified goods mentioned in the Act.

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TAN :Tax Deduction and Collection Account Number

Our everyday life from birth till death is connected to this one thing. Let the guessing start.

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All You Need to Know About GSTR-3

GST R1, R2, and R3 are various forms which are used for filing GST return. Return is a document which contains the details of income which a taxpayer is required to file with the authorities. Under GST a registered dealer has to file GST return which includes for purchases, sales, input tax credit etc.

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TDS Filling

TDS means Tax Deducted at Source. It is the tax which is deducted from income, interest on securities, rent payment, payment of commissions etc. The full form of TDS makes its meaning quite clear that TDS is such type of tax which is deducted at the very source of it. For example, if a bank has to pay a certain amount of interest to a person who has an account in that bank, then the person is going get such interest with a deduction of a certain amount, that deduction will be the TDS. In this example, the deductor is the bank and the deductee is the account holder. Deductor has to file this TDS to the Govt.

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Income Tax Return Filling

Income-tax is a tax levied and collected by the Central Government on income of a person. The provisions relating to the income-tax are governed by the Income-tax Act, 1961. Income–tax return (ITR) is a statement of income and tax thereon, which is to be supplied by a taxpayer to the Income-tax Department in permitted form. All year dissimilar forms of returns of income are approved by the Income-tax Department for different taxpayers having different income from different sources.

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TDS Deduction Rules in India

TDS or Tax Deducted at Source is income tax deducted at the source of income i.e. by the person or organization making the payment. Following are the rules regarding deduction of TDS applicable in India

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What is TDS (Tax Deducted at Source)?

Tax is a compulsory contribution to state revenue, levied by the government on workers income and business profits, or added to the cost of some goods, services, and transactions. Technically it is a strain and burden on the people. In India Income Tax Department a government agency supervise tax collection by government of India. This is under department of Revenue of Ministry of Finance. The bottom line is that taxation should foster equal distribution of resources.

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System of Advance Tax in India

Were you aware about the fact that the taxes that we usually paid at the end of every financial year, could also be paid in installments throughout the year?

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What are the advantages of GST?

The Goods and Services Tax abbreviated as GST is a major tax reform which has consolidated the various manners in which the indirect tax was levied by Central and State tax departments and brought it under one umbrella. For instance, it has replaced the Service tax law, VAT, Entry tax, Luxury tax, Purchase tax, etc. It is a comprehensive tax on manufacture, sale and consumption of goods and services.

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What is GSTR 1return?

GSTR-1 is a return that is mandatory for every certified trader to file. This return contains details of outward supplies by that trader. The term ‘outward supply’ has been defined in the Central Goods and Services Tax Act, 2017. It implies all sales of either goods or services or of both, by methods of,

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How is GSTR 1 Form filed?

Are you facing difficulty in filing GSTR-1? Don’t worry! This is your one-stop guide to finally understanding GSTR for what it is, and how is it to be filed.

Posts Tagged: annual compliance

Regular Scheme Under GST: Composition Scheme

An exhaustive explanation on FORM MGT-14

Tax Collected at source

TAN :Tax Deduction and Collection Account Number

All You Need to Know About GSTR-3

TDS Filling

Income Tax Return Filling

TDS Deduction Rules in India

What is TDS (Tax Deducted at Source)?

System of Advance Tax in India

What are the advantages of GST?

What is GSTR 1return?

How is GSTR 1 Form filed?

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