Jan08
2020The Public Provident Fund is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968. The aim of the scheme is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits. The scheme is fully guaranteed by the Central Government. Balance in PPF account is not subject to attachment under any order or decree of court except the Income Tax & other Government authorities can attach the account for recovering tax dues.
Dec27
2019What is HSN Code?
Dec20
2019Meaning of the term “Suo Moto”:
The term “Suo Moto” is a Latin legal term which literally means “on its own motion”. It implies that an action was taken by a group or persons on their own. Hence, when a government entity or a court takes up a matter suo moto, it is taking up the matter “on its own motion” meaning of its own accord or on its own initiative.
Dec10
2019With the implementation of the GST Law, there has been lot of confusion regarding applicability of GST on supply of used car. In this article we would focus on points like levy of GST on sale of second hand car, conditions to be satisfied for levy of GST on sale of second hand Car and will also discuss other important matters in this regard.
Dec03
2019Nov26
2019The article focuses on following areas:
Non-availability of Input Tax Credit on certain inward supplies under GST.
Exception to rules / provisions of non-availability of Input Tax Credit under GST.
Refer to the below table for further details:
Membership of a Club, Health and Fitness Center.
Travel benefits extended to employees on vacation such as leave or home travel concession.