UAE announces introduction of corporate tax w.e.f. 1 June 2023. With OECD adopting a minimum tax rate of 15%, UAE seems to have introduced Income Tax at an appropriate time, albeit at a lower rate 1. Corporate Tax has been introduced on net income or profit of corporations and other businesses. This is a federal […]
Even if your income is below the basic taxable limit, there are many benefits of filing your Income Tax Return. Filing of Income Tax Return is mandatory in the following cases: If the income of an individual exceeds Rupees Two Lakh Fifty Thousands. If an individual has spent Rupees Two Lakhs of foreign Travel for […]
A self-owned home is dream of everyone which require a lot of financial planning and sometimes a huge fund is required to manifest this dream in reality. Funds provided by bank/financial institution to an individual/entity for construction, extension or renovation of a residential property is called a Home Loan What if, I tell you, that […]
Section 74(1) Notice Required to collect GST/Interest/Penalty Telangana High Court gave a decision in the case of Deem Distributors Private Ltd Vs Union of India, in which GST department will not allowed to collect any Tax/Interest/Penalty without issuance of notice under section 74(1) of the Goods and Service Tax Act, 2017. The high court held […]
GST council had implemented this e-invoicing feature in its 35th meeting which applies to the special category of individuals. Many people misunderstood this term as generation of invoice on GST portal but this is not so. E-invoice is a process of submission of already generated invoices on an e-invoice portal. E-Invoicing in detail is the […]