Admin, Author at Tax Effects

Admin

7 Point checklist which must be seen while filing ITR

July 18, 2022

ITR filing: Individual taxpayers are now required to file income tax returns electronically with an exception of super senior citizens who can file it in

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TDS on Immovable Property u/s 194-IA

June 18, 2022

Before coming on the main article, let’s understand why there is a need for invoking such provisions of section 194-IA under income tax act, 1961.

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ITR Verification : 6 Ways to Verify your ITR

July 21, 2020

The last step in filing your income tax return (ITR) is to verify it. If you have filed your ITR but have not verified it,

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E-Way Bill : A Complete Summary

June 14, 2020

1. What is E-Way Bill? E-Way Bill is an Electronic Way Bill (i.e. Document) for the movement of goods which is to be generated on

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What is Presumptive Scheme under GST?

July 19, 2019

The Central Board of Indirect Taxes (CBIC) has notified a New Scheme in GST vide Notification No. 2/2019 Central Tax (Rate), dated March 7, 2019

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Section 194M of the Income Tax Act : A Complete Analysis

July 12, 2019

Budget 2019 has proposed a new Section 194M, which requires an individual or a HUF, to deduct TDS @ 5%, where they make payment

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TDS on Rent of Property : Section 194-IB

June 18, 2019

An individual or HUF paying rent of more than Rs 50,000 per month is now required to deduct tax at source (TDS). The government recently

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14 Key Facts about Input Tax Credit (ITC)

June 11, 2019

Input tax credit (ITC) is an integral part of the Goods and Services Tax (GST). Chapter-V of CGST Act, 2019 predominantly talks about Input Tax

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Concept of TDS under GST

June 11, 2019

1. TDS under GST: Who is the Deductor & Deductee? GST Council in its 28th meeting held on 21.07.2018 recommended the introduction of TDS from

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What is “Supply” under GST Act – [Updated for May/June 2019]

April 13, 2019

Before the introduction of GST Act, there were different kind of taxes over different points e.g. Excise duty on “Manufacturing”, Service Tax on “Provision” of

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