What is Section 194J TDS on Professional and Technical Services

What is Section 194J: TDS on Professional and Technical Services

Section 194J of the Income Tax Act ensures timely tax collection by requiring the deduction of Tax Deducted at Source (TDS) on payments made for professional and technical services, royalties, non-compete fees, and director’s remuneration. The section applies to businesses, corporations, or individuals liable for an audit under the Income Tax Act. Key Payments Covered […]

Navigating-GST-Changes-for-Metal-Scrap-Essential-RCM-and-TDS-Guidelines

Navigating GST Changes for Metal Scrap: Essential RCM and TDS Guidelines

“Metal scrap” refers to discarded or waste metal materials that are often recycled or sold as raw materials for further use. Recycling metal scrap plays a crucial role in conserving resources and promoting sustainability. In India, businesses involved in the sale or purchase of metal scrap need to understand various tax implications such as GST […]

Key Highlights from the 54th GST Council Meeting Major Updates

Key Highlights from the 54th GST Council Meeting: Major Updates

The 54th GST Council meeting, led by Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman, brought important changes. These updates aim to simplify GST rates, improve compliance, and streamline procedures. Let’s go over the most significant changes. A. Changes in GST Tax Rates Namkeens and Savory Products:The GST rate on extruded savory products […]

Quick Guide Aadhaar & Document Verification for GST Registration in 4 States

Quick Guide: Aadhaar & Document Verification for GST Registration in 4 States

If you are registering for GST Registration in Bihar, Delhi, Karnataka, or Punjab, the process has changed. These changes make the verification faster and more secure. Here’s a brief look at what you need to know. Key Updates: 1.Biometric Aadhaar Authentication: Applicants are now identified using biometric-based Aadhaar authentication. This includes a photograph and verification […]

Navigating Tax Returns as a Representative Assesses Essential Tips and Steps

Navigating Tax Returns as a Representative Assessee: Essential Tips and Steps

Filing income tax returns as a representative assessee may seem challenging, but it is an important task when the original taxpayer cannot handle their own taxes. This situation can arise if the taxpayer is a minor, incapacitated, deceased, or a non-resident. In such cases, the representative is responsible for ensuring the tax obligations are met. […]

Legal Updates from Recent Court Rulings in GST Cases

Key Court Rulings on GST Seizures: What Businesses Should Know

Understanding GST law, especially regarding asset GST seizures, can be challenging. Recent court rulings have clarified the limits of CGST authorities’ power to seize assets. This blog will break down a key legal case that affects businesses dealing with the Goods and Services Tax (GST). The Case: CGST vs. Deepak Khandelwal In January 2020, CGST […]

Understanding-Tax-Audits-and-Form-3CA-3CD-A-Comprehensive-Guide

Understanding Tax Audits and Form 3CA-3CD: A Comprehensive Guide

Tax audits and form 3CA-3CD are vital for ensuring compliance with tax laws and preventing tax evasion. Established by the Finance Act of 1984 under Section 44AB, this requirement took effect from the Assessment Year 1985-86. The goal is to enhance the accuracy and transparency of income reporting. What is a Tax Audit? A tax […]