Table of Contents
·
1.
Who is liable to deduct TDS:
·
2. No TDS if Fee for Professional Services is
for the Personal Purposes of the individual or HUF:
·
3.
When TDS is to be Deducted:
·
5. Where no TDS is to be Deducted at Source:
Related Posts:
· [Section 44AD,
44ADA, 44AE]- Estimated or Presumptive Income method for Computing Business… To
give relief to small taxpayers from the tedious job of maintenance of books of
account and from getting the…
· Penalties &
Prosecutions under Income Tax Act. 1. Penalties
under Income Tax Act. The various defaults in respect of which Penalty can be
imposed by the Income…
· [Section 194C]-
TDS on Payment to Resident Contractor (i)
Any person responsible for paying any sum to any
resident contractor for carrying out any work (including supply…
· Special
Provisions applicable to Closely-held Company (in which Public are Not
Substantially… The following are the special provisions under
the Income-tax Act which are applicable to a company in which public are…
· Levy and
Collection of GST under CGST Act, IGST Act and UTGST Act. Taxable
event and point of time for payment of tax were two different aspects under
indirect tax law in preGST…
· TDS from Salary
[Section 192] 1. [Section 192(1)]- Tax to be
Deducted at average of Income-Tax: Any person responsible far paving any income
chargeable under…
· GST Return under
GST Act. A GST Return is a summarised statement furnished by
the tax payer to the tax administrators containing details of specified…
· Taxability -
Income from Other Sources [Sections 56 to 59] 1.
Section wise Table – Income from Other Sources Sections Particulars 56 Income
from Other Sources 56(1) Chargeability 56(2) Specific…
· Investment
Planning for Tax Savings 1. Investment in Sukanya
Samriddhi Yojana (SSY) The Sukanya Samriddhi Yojana interest rate for January
to March 2020 (Q4, FY…
· Supply of Goods
or/and Services under CGST/SGST Act. In order to constitute a
'supply', the following elements are required to be satisfied, i.e.— (i)
the activity involves…
· Incomes
Chargeable to Tax under Profits and Gains of Business or Profession 1.
[Section 28]- List of Incomes Chargeable to Income-Tax The following
incomes shall be chargeable to income-tax under the…
· Set Off or Carry
Forward and Set Off Of Losses under Income Tax Act Income-tax
is a composite tax on the total income of a person earned during a period of
one previous year. …
· Payment of GST
in GST Regime 1. Types of Payments to be made in
GST Regime For any intra-state supply For any interstate supply Taxes to…
· [Section 40]-
Amounts Not Deductible for computing Profits & Gains of Business or
Profession Notwithstanding anything contained in sections 30 to
38, the following amounts shall not be deducted in computing the income
chargeable…
· ‘Residential
Status’ under Income Tax Act. 1956 1. Residential
Status of an Individual [Section 6(1)] According to the residential status, the
assessee can either be: (i) Resident…
· GST Payable on
Reverse Charge Basis [Section 9(3) of CGST Act, Section 5(3) of IGST Act and… The
Government may, on the recommendations of the Council, by notification, specify
categories of supply of goods or services or…
· [Section 133A] -
‘Survey’ under Income Tax Act. ‘Survey’ contemplates a
comprehensive and extensive view of the business or charitable activities of an
assessee, subject to the limitations…
· [Section 190 to
206CA]- Deduction and Collection of Tax at Source (TDS & TCS) Tax
Deduction at Source (TDS) and Advance Payment [Section 190] Although regular
assessment in respect of any income is to…
· [Section
7(1)(c)]- Activities specified in Schedule-I, treated as Supply of Goods or… As
per Schedule I of the CGST Act, the following activities are to be treated as
supply even if made…
· Permanent
Account Number (PAN) [Section 139A and Rule 114] 1.
[Section 139A (1)]- Who has to apply for PAN?: Every person who has not been
allotted a permanent account…