If the Income Tax Liability of any taxpayer is more than Rs. 10,000 in a financial year, then he is liable to pay such tax in installments during the year itself rather than paying this tax at the end of...

There is currently a huge shortage of affordable houses in India. The houses which are currently available for sale are too expensive and in most cases, out of reach of the lower middle-class population of India. There is a shortage...

Most of you must have a life insurance cover from Life Corporation of India (LIC) which is one of the leading Life Insurers in the country. Only some of you know the choices made available by LIC to pay the...

For the purpose of determination of GST on Reimbursement, we first have to understand the meaning of a pure agent. The GST Act defines pure agent as a person including a factor, broker, commission agent, arhatia, del credere agent, an...

To reduce the cases of tax evasion, the govt has inserted the provisions of TCS in GST for all sales which are done through e-commerce websites. The provisions of TCS are not yet applicable and would be applicable from a...

If any excess GST has been paid or there is any input tax credit which has not been utilised, a person can claim refund under Section 54 of the excess GST paid by filing an application for the same online....

GST is a trust based taxation regime wherein the taxpayer is himself required to self assess his tax liability and himself pay the same without any intervention by the tax officials. To ensure that there are no mis-appropriations in the...

Determining the Place of Supply of Goods or Services is very important as it would determine the nature of tax to be paid. In case the location of the supplier and the place of supply are within the same state...

GST has been implemented in India from 1st July 2017 and it replaces several indirect taxes like Service Tax, VAT, Excise etc which were levied earlier. The 1st and the foremost thing which every business should do regarding GST is...

A lot of people trade and invest in stocks – some do it part-time as an investment and some do it full time as a business. From the point of view of taxation – this leads to confusion on whether...