Normally, the supplier of goods or services pays the tax on supply. In the case of Reverse Charge Mechanism, the receiver of goods or service is becomes liable to pay the tax, i.e., the chargeability...
As we discussed in a previous article, many Canadians are shocked to learn that California taxes their RRSPs. Canadians are often also surprised and dismayed to learn that their Canadian trust could b...
You should file your income tax return carefully because improper income tax return filing can cause you in trouble in the form of penalty & notices from the income tax department. You can also take...
The Indian government has always been in favor of providing benefits to Micro, small and medium enterprises (MSMEs). There are many advantages of obtaining MSME registration in India, which can be...
The finance ministry asked the panel of the direct tax code (DTC) to review the existing slabs of income tax (I-T), especially in the 20 percent tranche, said a senior government development official...
In the last few years, we’ve observed the emergence of people making videos related to education, fitness, tips/ideas/classes related to business, reviews of movies,books, gadgets etc and upload it on...
Implemented back in 2017, the Goods & Service Tax (GST) met with both critics and appraisals. Several GST advantages and disadvantages split the general public’s opinions. For example, where vegetable...
Income Tax Return Filing: An income tax return is a form in which a taxpayer furnishes information about his total income and tax payable on that income. In the following cases o
Heard this great saying by former US President Richard Nixon? "Make sure you pay your Taxes; otherwise you can get in a lot of trouble." Sampath a young 28 year old man, works in an IT firm in...
People who don’t know about taxation system should know that why we should pay taxes. Especially when a business is operating then it is important to pay taxes to the central or state government of...
When you get a letter from the federal and local tax authorities making a final demand for your income tax you may not know where to turn. The IRS can implement a number of punitive measures to take...
Articles and notations are combined with two words in the accounting by writing the meaning of the article and by marking means the meanings. Accounting is an event sequence that is written in the...
The Union Cabinet on Wednesday approved an integrated income-tax e-filing and centralised processing centre (CPC) portal, which will reduce the return processing time from 63 days to just one day. The...
One-line description: Planning for the next financial year early can ensure optimized tax savings for the future. Here is a look at some tax saving plans that must be a part of your financial...
1. Introduction:Section 50B of Income Tax Act, 1961 (for short ‘the Act’) deals with the capital gains in the case of Slump sale.2. Bennett Coleman & Co.case in brief:Recently, in Bennett Coleman...