TCS on cash sale of goods or services Finance Act, 2016 imposed TCS on cash sale of goods or services with effect from 1-6-2016. New Sub Section (1D) of Section 206C is as follow: Every person, being a seller, who receives any amount in cash as consideration for sale of bullion or jewellery or any […]
TCS on Sale of Goods/Services of value exceeding Rs. 2 Lakhs “Every person, being a seller, who receives any amount in cash as consideration for sale of bullion 35[***] or jewellery, or any goods (other than bullion or jwellery) shall, at the time of receipt of such amount in cash, collect from the buyer, a […]
While the Income Tax Department is often known for its rigorous tax collection practices, it also provides certain relief measures to taxpayers who incur losses. These measures, known as “Set Off” or “Carry Forward and Set Off” provisions, allow taxpayers to offset their losses against future income, subject to specific conditions and restrictions. Let’s delve […]
Creation of Charges under Companies Act, 2013 Definition of Charge: ― As per Section-2 (16) Charge means- An interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage;Principle rule of Creation of Charge is that “Charge will be creating on the Assets […]
Best Investment Instruments for Maximum Returns Choosing the right investment avenues is not an easy task and the choice depends on a lot of factors. We all prefer investing in instruments that offer high returns, but with better returns, there is always an element of risk involved. Higher the returns, the more is the risk.