E-Way Bill Exemption

E-Way Bill Exemption The Government has introduced concept of E-way bill in order to track the movement of goods and to avoid tax evasion. E-way bill generation is mandatory in case of movement of goods by a person having GST…

GST TDS – Rate, Applicability & Payment

GST TDS - Rate, Applicability & Payment Tax Deducted at Source which is most commonly known as TDS is the system through which certain percentage of tax is collected at the source of the income. Certain Government Department, Local Authorities,…

How to Reset iCFO Password

How to Reset iCFO Password In case you have forgot the iCFO password or unable to login to the iCFO platform, follow the steps below to reset your iCFO account password. IMPORTANT: Enter your email id in lower case characters…

MCA Restarts LLP Registration

MCA Restarts LLP Registration The Ministry of Corporate Affairs had earlier temporarily suspended the issuance of new DINs for Designated Partners of a LLPs. The suspension was in-place for the MCA to revamp the DIN issuance process for Partners in…

Securities Transaction Tax (STT)

Securities Transaction Tax (STT) Securities transaction tax (most commonly known as STT) was introduced in the Budget of year 2004 and the same was made applicable from October, 2004. The main objective behind implementation of STT is to avoid tax…

Clubbing Income of Minor

Clubbing Income of Minor In simple terms, clubbing of income means including the income of any other person in Assessee’s total income. Under Income Tax law, specified situations are provided, wherein, income of one person is statutorily required to be…

GST on Stock Broking Services

GST on Stock Broking Services Stock broking is a service which gives retail and institutional investors the opportunity to buy and sell shares. Stock broker is a person or a firm that offers a stockbroking service. Stock exchanges imposes strict…

Section 115BBG Income Tax – Carbon Credit

Section 115BBG Income Tax - Carbon Credit In common parlance, carbon credit is a permit which allows a country or organization to produce a certain amount of carbon emissions and which can be traded if the full allowance is not…

Unexplained Cash Credit

Unexplained Cash Credit - Section 68 of Income Tax Unexplained cash credit is any money credited to a taxpayer for which the taxpayer cannot provide any explanation about the nature or source of the money. Under Income Tax Act, any…

GST on Discounts

GST on Discounts Offering various discounts like cash discount, trade discount, volume discount, percentage discount etc. is the part and parcel of the sale promotion activities now a days. Under GST law cash discount, trade discount, volume discount, percentage discount…