The Jaipur Income Tax Appellate Tribunal (ITAT) has directed the Assessing Officer (AO) to pass an order on the merits of chargeability of salary earned by a non-resident Assessee through employment in Kenya, which was inadvertently offered to tax in India. The ITAT opines that the AO should have guided the non-resident and have passed …
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The Indian government’s Startup India initiative aims to establish a strong startup ecosystem that fosters innovation and offers opportunities to aspiring entrepreneurs. The initiative was launched on January 16, 2016, and includes an action plan comprising 19 points. The action plan lays out a blueprint for creating a favorable environment for startups in the country. …
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1. Can the Council accept claims from suppliers in the service/trading sector? Answer: The Council can only accept claims from suppliers in the manufacturing and service sectors for which UAM has been obtained. These categories cannot be challenged by the respondent/buyer. 2. Can an appellate court allow an appeal against the Council’s award without depositing …
Q.1 What is the purpose of the MSME Samadhaan Portal? A: The MSME Samadhaan Portal is an online platform developed by the Office of DC(MSME), Ministry of Micro, Small and Medium Enterprises (MSME) to enable Micro and Small Enterprises (MSEs) to file their applications online for delayed payments. Q.2 Does the Ministry of MSME take …
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ABOUT SCHEME The MSME Innovative Scheme will merge the Incubation, Design, and IPR Schemes of the Ministry of MSME. These three schemes will operate as separate verticals with connections and be integrated into a singular formulation for higher efficiency and synergy. The MSME Innovative Scheme aims to promote and encourage innovative activities, creating awareness among …
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Tax planning is an essential aspect of personal financial management, and can help individuals minimize their tax liability while maximizing their financial resources. In this article, we will discuss some effective tax planning strategies that individuals can use to reduce their tax burden and achieve their financial goals. The first step in effective tax planning …
What is Tax Planning Tax planning is the process of organizing and managing your finances in a way that minimizes your tax liability. It involves analyzing your income, expenses, and investments in order to identify opportunities to reduce your tax burden. The goal of tax planning is not to evade taxes, but rather to make …
Tax planning is an important aspect of personal finance in India. With the increasing complexity of the tax system in the country, it has become essential for individuals to plan their taxes in a way that minimizes their tax liability while maximizing their financial resources. In this article, we will discuss some of the key …
According to the GST law, a registered person is allowed to provide travel benefits to their employees. However, if such benefits are given in the form of leave or home travel concession, the company cannot claim input tax credit on the expenditure. This is because such benefits are considered to be personal travel expenses provided …
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Under the CGST Act, a non-resident taxable person who has registered under section 25 is not eligible to claim Input Tax Credit (ITC) on goods or services, except for goods imported by them. A non-resident taxable person is an individual who conducts temporary business in India but does not have a place of business in …
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