Import of milk and milk products from China – Prohibited S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby, makes the following amendment in ITC (HS) 2012, […]
TCS on Cash Sale – Notification Amendment in section 206C of the Income Tax Act vide Finance Act 2016 -Clarification regarding In order to curb the cash economy, Finance Act 2016 has amended section 206C of the Income-tax Act to provide that the seller shall collect tax at the rate of one per cent from […]
TDS Provisions under Model GST Law Deductor meaning for TDS Provisions under Model GST Law Following are liable to deduct TDS under Sub Section 1 of Section 37 1. a department or establishment of the Central or State Government, or 2. Local authority, or 3. Governmental agencies, or
Charge on pledge of assets Section 172 of the Indian Contracts Act, 1872 defines a pledge as: “The bailment of goods as security for payment of a debt or performance of a promise is called “pledge“.” *(Section 172, Indian Contract Act, 1872). The bailor is referred to as the “pawnor/ pledgor” and the bailee as […]
Why you need TDS certificates when Form 26AS provides all information One can gather all information related to TDS in Form 26AS which is sufficient to file one’s return. This might make you doubt the importance of TDS certificates but the rationale behind introducing Form 26AS is to enable the taxpayer to cross check the […]