As per the Delhi Municipal Corporation (Amendment) Act, 2003.. the properties falling under the Municipal Corporation of Delhi’s jurisdiction are liable to pay property tax. Till now, cheques as well as digital payments were accepted for property tax payments. But as per the new rule, only digital payments shall be accepted for property tax ,w.e.f., […]
Special Cases Where ITR Filing Is Mandatory
Special Cases Where ITR Filing is Mandatory : CASE NO. 1: A person deposits a total amount exceeding 1 crore rupees in one or more current account maintained with any bank during relevant previous year CASE NO. 2: A person incurs total expenses exceeding 2 lakh rupees for travel to a foreign country, either for […]
Basic requirements for Company incorporation
DSC (Digital Signature Certificate) of first subscribers cum directors PAN (Permanent Account Number) of first subscribers/ directors (not having DIN) Address proof of first subscribers and directors- Bank statement/ Electricity bill/ Telephone bill/ Mobile bill Identity proof of first subscribers and directors – Voters Identity Card/ Passport/ Driving License Photograph of directors Address proof of […]
HRA exemption
Sec.10(13A) of the Income Tax Act, 1961 allows exemption from HRA (House Rent Allowance) received from the employer. The amount of HRA exemption should be least of the following- Actual HRA received; OR Actual rent paid minus 10% of the salary; OR 50% / 40% of the salary. [50%, if house is situated in Mumbai, […]
Basic requirements for LLP Incorporation
Basic requirements for LLP Incorporation: DSC (Digital Signature Certificate) PAN (Permanent Account Number) of partners Address proof of partners – Bank statement/ Electricity bill/ Telephone bill/ Mobile bill Identity proof of partners – Voters Identity Card/ Passport/ Driving License Address proof of registered office of LLP NOC from the owner of premises of LLP mentioning […]
Tables for Memorandum of Association (MOA)
Tables for Memorandum of Association (MOA) as per Schedule I of the Companies Act, 2013 TABLE TYPE OF COMPANY A Memorandum of Association of a company limited by shares B Memorandum of Association of a company limited by guarantee and not having share capital C Memorandum of Association of a company limited by guarantee and […]
Tables for Articles of Association (AOA)
Tables for Articles of Association (AOA) as per Schedule I of the Companies Act, 2013 TABLE TYPE OF COMPANY F Articles of Association of a company limited by shares G Articles of Association of a company limited by guarantee and having share capital H Articles of Association of a company limited by guarantee and not […]
Interest rate
Interest on delayed payment of GST is 18% while Interest on undue or excess claim of Input tax credit (ITC) or undue or excess reduction in output tax liability is 24%
Some General Principles Of Interpretation Of GST Law
General Principles of Interpretation of GST Law Principles of Interpretation Of GST Law:. The Parliament has overriding power in GST The Act prevails over Rules Illustrations under a provision can’t modify the law Explanation under a provision can’t expand the scope of provision To cure defects in law, the Parliament can make law retrospectively GST […]