Annu Singh
15 articles written by Annu Singh on ConsultEase.
[watch video] Section 44AD – Presumptive Taxation for small businesses
Section 44AD – Presumptive Taxation for small businesses Section 44AD – Presumptive Taxation for small businesses.This is special scheme for small businesses. They can pay tax easily with simplified return. No need to calculate the profit. It is fixed on a percentage. Although they can
Section 44ADA – Presumptive Taxation for small professionals
Presumptive Taxation for small professionals – Section 44ADA SPECIAL PROVISION FOR COMPUTING PROFITS AND GAINS OF PROFESSION Applicability Section 44ADA shall apply if all the following conditions are satisfied: The assessee is resident in India and he is engaged in a specified profession (i.e. legal,
Composition Scheme (Section-10 of CGST Act, 2017)
Composition Scheme (Section-10 of CGST Act, 2017) Every tax system requires compliances with statutory provisions in a time-bound manner such as periodic tax payments, filing of returns, maintenance of prescribed records, etc. which many a time pose a challenge to small business. Provisions to protect
GSTR-4
GSTR-4 Form GSTR-4 (Annual Return) is a yearly return to be filed by taxpayers opting for composition scheme on an annual basis. Unlike a normal taxpayer who needs to furnish three monthly returns, a dealer opting for the composition scheme is required to furnish only
Online Information Database Access And Retrieval: OIDAR
Online Information Database Access And Retrieval: OIDAR OIDAR Services are a category of services whose Delivery is mediated through the internet & its supply is essentially automated involving minimum or zero human intervention also its supply is impossible without information technology. Examples of OIDAR services:
Input Service Distributor (ISD)
Input Service Distributor (ISD) Definition – As per Section 2(61) of CGST Act,2017, Input Service Distributor means an office of the supplier of goods or services or both which receives tax invoices issued under section 31 towards the receipt of input services and issues a
Non-Resident Taxable Person (NRTP) (Section 2(77) Of CGST ACT)
Non-Resident Taxable Person (NRTP) (Section 2(77) Of CGST ACT) “Non-resident taxable person” means any person who ➢ Occasionally undertakes transactions ➢ Involving the supply of goods or services or both ➢ Whether as principal or agent or in any other capacity ➢ But who has
GSTR-3B: FAQ
GSTR-3B: FAQ Table Summary Details of GSTR-3B 3.1 Details of Outward Supplies and inward supplies liable to reverse charge Nature of Supplies Taxable Value Integrated Tax CGST CGST (a) Outward taxable supplies (other than zero-rated, nil rated and exempted) (b) Outward
Casual Taxable Person (CTP) (Section 2(20) of CGST Act)
Casual Taxable Person (CTP) (Section 2(20) of CGST Act) Casual Taxable person means a person who Occasionally undertakes transaction involving the supply of goods or services or both In the course or furtherance of business Whether as a principal, agent or in any other capacity,
FAQ’s on Udyog Aadhar, MSME benefits and registration
What is a Udyog Aadhar? Udyog Adhar is the registration number under MSME. In the last couple of weeks, many benefits are offered for MSME. You need to register under Udyog Aadhar. Only then you will be eligible for those benefits. It is free and
Section 194I – TDS on Rent under income Tax
What is TDS on Rent u/s 194I? This section is applicable to any person who is responsible for the payment of rent. He is liable to deduct and deposit the TDS on Rent. However, an individual or a HUF who is not liable for audit us
All you need to know about ITR 4 of FY 19-20
What is the ITR 4 Sugam Form? ITR stands for Income Tax Return and ITR 4 Sugam Form is for the taxpayers who are filing return under the presumptive income scheme in Section 44AD, Section 44ADA and Section 44AE of the Income Tax (IT) Act.