TCS on sale of Goods and Services Section 206C Tax Collected at Source: “TCS is the Tax Collected at Source by the seller (collector) from the buyer(collectee)”. Every person, being a seller, shall collect tax at source (TCS) from the buyer of goods specified in section 206 C (1).
Impact of Krishi Kalyan Cess – Service tax Introduction Service tax rate has been proposed to increase from 14.50% to 15% effective from 1st June 2016.It is also clear that till 1.6.2016, service tax shall continue to be levied @ 14.50% comprising of Basic 14.0% and 0.50% as Swach Bharat cess(SBC). It is proposed to […]
How to get proper credit of taxes paid by you? Do’s for Taxpayers (A) The possible reasons for no credit being displayed in your Form 26AS can be: 1. Deductor/collector has not filed his TDS/TCS statement; 2. You have not provided PAN to the deductor/ collector;
VALUATION OF THE PHYSICIAN SAMPLE WHEN PRODUCT IS MRP BASED AND MANUFACTURING IS CONTRACT AND JOB WORK BASIS. Law cannot be interpreted broadly. It has to interpret case to case basis. It is very much clear that if the product is being manufactured for ultimate consumer and covered under provision of Legal Metrology Act and […]
Analysis of MCA order on Applicability of Special Courts MCA has issued an order on 18.05.2016 clarifying the commencement of section 2(29), sections 435 to 438 and 440 of Companies Act, 2013. Extract of these Section is as follows:- Section 2(29) “court” means— (i) the High Court having jurisdiction in relation to the place at […]