How to calculate ‘income from house property’ for income tax purposes If you have a house/flat that is either rented out or kept vacant you need to know about income from house property for tax calculation purposes. This is also important for tax saving if you want to set off the interest you are paying […]
IMPACT OF GST ON AUTOMOBILE DEALERS GST ON AUTOMOBILE DEALERS basically comprises of Manufacturers, Automobile Dealers & Retailers. Presently, all of them are paying various indirect taxes such as:
Reversal of credit on exempted services before 30th June Mechanism of availing Reversal of credit credit in case of manufacturers or service providers having both taxable and non-taxable activities has been subject to litigation. Lot of developments have happened in Rule 6 of Cenvat credit Rules 2004 in specifying the mechanism for availing the credits.
TYPES OF ‘SUPPLY’ UNDER ‘GST’ REGIME Section 66B of the Finance Act, 1994 provides that there shall be levied a tax at the rate of fourteen per cent. on the value of all services, other than those services specified in the negative list, provided or agreed to be provided in the taxable territory by one […]
Nidhi Company – Provisions as per Companies Act 2013 Nidhi Company means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as […]