All Posts
Margin Scheme for Second Hand gold Jewelers
GST

Margin Scheme for Second Hand gold Jewelers – simplified, summarized and latest updated till 2022

Margin Scheme for Second Hand gold Jewelers is explained in the article below in most simplified manner for ease of understanding for all such Second hand gold Jewelers and professionals. Please note all the updated till Nov’22 have been incorporated in the detailed article below. A recent Judgement of Karnataka AAR can be very beneficial for Second hand gold Jewelers which will be discussed in the article below.

Read More
Income Tax and GST for freelancers in India
Income Tax GST

Income Tax and GST on Freelancers in India – Do not miss and become tax compliant. Some essential tax saving tips for year 2022-23 for freelancers.

Income Tax and GST on Freelancers topic seems to be so much current and relevant thing to discuss as people of India are rapidly shifting to providing freelancing services or doing freelancing business instead of a full time job. This article is to the rescue of all the freelancers who are unaware of the taxation impacts on their freelancing income in India. Article will provide brief guide on Income Tax applicability on Freelancers, TDS, Advance Tax and GST requirements for freelancers.

Read More
Second Hand Vehicle
GST

Margin Scheme for Second Hand Vehicle Dealers – simplified, summarized and latest updated till 2022

Margin Scheme for Second Hand Vehicle Dealers is explained in the article below in most simplified manner for ease of understanding for all such Second hand Vehicle dealers and professional. Please note all the updated till Nov’22 have been incorporated in the detailed article below.

Read More
HSN Summary compulsorily to be formed part of GSTR-1
GST

HSN Summary compulsorily to be formed part of GSTR-1 : This small mistake in GST Return and pay penalty of 50,000

HSN Summary compulsorily to be formed part of GSTR-1 Quarterly Returns. Notification No. 78/2020 – Central Tax released on 15/10/2020, made compulsory for the registered persons to mention either 4 digit or 6 digit of HSN Code in HSN Summary of the GSTR-1 on the basis of their Aggregate Annual Turnover (AATO) in the preceding financial year. However, these changes were being inculcated on GSTN Portal in phase manner.

Read More
Moonlighting
Income Tax GST

Income Tax and GST impact and some tax saving tips on Moonlighting – best insight relevant for this year 2022-23 and coming years

Lets discuss in brief Income Tax and GST impact and some tax saving tips on Moonlighting – best insight relevant for this year 2022-23 and coming years

Read More
All the wrong reasons to take GST Registration in India
GST

All the wrong reasons to take GST Registration in India – Avoid these 4 mistakes

This article is to help businesses to understand all the wrong reasons to take GST Registration in India. As a consultant, daily we come across small businesses, general stores, retails store business who have either obtained GST Registration for wrong reasons or misconceptions or who is wanting to take GST registration for those wrong reasons.

Read More
Lower your taxable income up to 5 Lacs by using Chapter VI Deductions
Income Tax

Section 206AB or 206CCA Alert!!! Non-filers of ITR – TDS or TCS to be deducted at double rates

Recently I came across a Notice from CAMS, wherein a notice was received by Investor, specifying that the PAN of investor is appearing in a list of “Specified Persons” as per Income Tax Utility and as a consequence deduction of TDS will be done at higher rate on all dividend payouts. This article is guide on what is section 206AB or 206CCA, consequence, how to do compliance and how to check the list of specified persons.

Read More
Purchase of property
Income Tax

Purchasing a property ? Don’t miss out on deducting TDS U/S 194IA before making payment.

Purchasing a property ? Don’t miss out on deducting TDS u/s 194IA before making payment. The title is enough to explain what this article is going to be about. The TDS law has come up where any person purchasing a immovable property other than agricultural land is required to deduct TDS u/s 194IA and deposit the same within 30 days by filing challan cum statement in form 26QB.

Read More
cinematography
Income Tax

Form 52A filing by Producers of cinematography films

Section 285B of the Income Tax Act, 1961 mandates Form 52A filing by Producers of cinematography films. This article is detail guide on Section 285B and amended form 52A and time limit to file the form, person on which this form is applicable. The article is updated as per latest notification no 109-2022 dated 14th […]

Read More
tax exemption
Income Tax

Income exempt u/s 10(46) notifies CBDT

Income exempt u/s 10(46) notifies CBDT in August and September month. This article briefly explain Name of Board, nature of exempt income and conditions to avail those exemption u/s 10(46). Andhra Pradesh Pollution Control Board Andhra Pradesh Pollution Control Board’s specified income exempt u/s 10(46) notifies CBDT by bringing Notification No 103_2022 dated 24th August, […]

Read More