Exploring the New Form 10B and 10BB for A.Y 2023-24 Onwards
Exploring the New Form 10B and 10BB for A.Y 2023-24 Onwards Introduction Every year, the Indian government introduces changes and updates in the income tax filing process to ensure better compliance and transparency. One such notable change for the Assessment Year (A.Y) 2023-24 onwards is the revamped Form 10B and the introduction of Form 10BB. […]
Interplay of TDS/ TCS requirements on trading business
Introduction Finance Act, 2021 has introduced Section 194Q with effect from 1st July, 2021. Briefly about Section 194Q Who needs to comply: Buyer of Goods having total sales, gross receipts or turnover from the business of more than ₹ 10 crores during financial year immediately preceding the financial year in which purchase of goods is […]
Finance Act 2021
Attached is the copy of Finance Act 2021 as approved by both houses and received accent of the President.
Complete guide for E-Commerce companies on applicability of Equalisation Levy post Finance Act, 2021
Applicability In order to analyse the applicability of the Equalisation Levy, it is first necessary to understand the scope of the levy on ecommerce. As per Section 163(3), the levy shall apply to consideration received or receivable for e-commerce supply or services made or provided or facilitated on or after the 1st day of April, […]