Tax on E-commerce operators brought by Budget 2020 and its implications: Introduction: The advent of e-commerce platforms has radically changed the way consumers purchase goods or avail services. Nowadays, any goods or services can become available to any consumer at any place on a click of a few buttons. However, as easy it may seem… Continue reading Rationalising TDS on E-Commerce Transactions
Author: Bhaskara Consulting Group
Procedure to knock NCLT’s door for recovery of dues under IBC
What is Insolvency And Bankruptcy Code, 2016? The Insolvency and Bankruptcy Code, 2016 (“the Code”) helps the companies to restructure themselves and make better financial plans or in certain situations, for the winding up of the company. The Code has repealed all the older acts dealing with corporate insolvency and has constituted a single and… Continue reading Procedure to knock NCLT’s door for recovery of dues under IBC
Option To Avoid The Future Non-Compliance
Taxpayers especially those who are salaried but trade in Futures & Options (hereafter referred to as “F&O”), make the mistake of not reporting these in their tax return. You may receive a notice from the tax department for non-compliance. Trading in F&O must be reported as PGBP income unless you have only a few trades… Continue reading Option To Avoid The Future Non-Compliance
TECHNOLOGICAL CHANGES IMPACTING BUSINESSES
THIS IS HOW TECHNOLOGICAL CHANGES WILL IMPACT YOUR BUSINESS IN 2020 Section 269SU of the Income-tax Act, 1961: Applicability: February 01, 2020 Turnover Threshold: 50 crores As per section 269SU of the Income-tax Act, 1961 (“the Act”), “Every person, carrying on business, shall provide facility for accepting payment through prescribed electronic modes, in addition to… Continue reading TECHNOLOGICAL CHANGES IMPACTING BUSINESSES
E-Mobility: Watch It Happen Or Be Part Of It!
WHAT IS E-MOBILITY? As it is rightly quoted by Elon Musk, founder of Tesla Inc., “Some people don’t like change, but you need to embrace change if the alternative is a disaster”. Electric Mobility, or Electro Mobility, or E-Mobility for short, is that very change which the people shall embrace in the near future. Let’s… Continue reading E-Mobility: Watch It Happen Or Be Part Of It!
DRONE FINALLY TAKES OFF
Introduction: “The best way to predict the future is to invent it”. The materializing of self-driven cars, cloud computing, and artificial intelligence have proven that innovation is not bound by any limits and has no goals to rest. Driven by human imagination, innovation has touched our lives in an unprecedented manner. One such revolution in the… Continue reading DRONE FINALLY TAKES OFF
Union Budget – Amendments missed by WhatsApp forwards
Firstly, let’s discuss the difference between an Interim Budget and the Union Budget since confusion may arise because of the budgets held twice this year. Interim Budget is the one which is held once in 5 years and Final Budget is the one which is held every year. Interim Budget is only applicable in the… Continue reading Union Budget – Amendments missed by WhatsApp forwards
After Sabka Vikas, It’s now Sabka Vishwas
The Finance Act, 2019 presented by the Hon’ble Finance Minister Nirmala Sitharaman will be remembered for the bahi khata instead of the traditional suitcase. In addition to a slew of amendments and introduction of the new provisions in the direct and indirect tax regime, the first Budget of the Modi Government 2.0 also introduced Sabka… Continue reading After Sabka Vikas, It’s now Sabka Vishwas
Lower Deduction Certificate u/s 197 – Reduce your TDS Burden
Introduction Income tax provisions of several countries provide for withholding of tax on certain specified payments. Similarly, Indian income tax law also provides for deduction of tax at source (TDS) / collection of tax source (TCS). Person responsible for making the payment is entrusted with the responsibility of deducting the tax at specified rates either… Continue reading Lower Deduction Certificate u/s 197 – Reduce your TDS Burden
SWAYATT and the Start-up Runway – Doing business with Government
In a vibrant economy like India, government constitutes one of the largest consumer. Public procurements are lucrative source of revenue for any business. However, because of complex eligibility norms and non-transparent selection process, often well-established and large business entities bag government contracts. In order to bring transparency to the process and increase the participation of… Continue reading SWAYATT and the Start-up Runway – Doing business with Government