Archives 2022

BUSINESS TRUSTS- REITs & InvITs (Tax Implication)

WHAT IS A BUSINESS TRUST? Section 2(13A) of Income Tax Act defines Business Trust as below: “Business trust” means a trust registered as, —  (i)  an Infrastructure Investment Trust under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 made under the Securities and Exchange Board of India Act, 1992 (15 of […]

E-INVOICING UNDER GST

APPLICABILITY E-invoicing has been made compulsory by the Government of India for the taxpayers whose annual turnover is above Rs.10 crores with effect from 1st October, 2022 vide Notification No.17/2022. The taxpayers must comply with the provisions of e-invoicing in F.Y. 2022-23 and onwards if their aggregate turnover exceeds the specified limit in any of […]

HOW TO GET TDS CHALLANS THROUGH NSDL

Step 1: Go to the website https://www.protean-tinpan.com/ Step 2: Click on “Challan Status Inquiry” under the ‘Services‘ tab. Step 3: We can view the challans either by providing the CIN number or the TAN number. Step 4: In case of Tan Based View, fill in the details by entering the TAN number of the assessee […]

CATEGORIES OF INVESTORS (RII, NII & QIB)

Initial Public Offering (IPO) is a process by which a privately held company gets listed on the stock exchange and sells its shares to investors. There are several categories of investors in IPO application process. You can apply through more than one category to maximize the chances of allotment based on the eligibility criteria. RETAIL […]

DEFINITION IN TURNOVER WITH DIFFERENT LAWS

The Central Sales Tax Act, 1956 defines “Turnover” as follows: Under this Act, “turnover” used in relation to any dealer liable to tax means the aggregate of the sales price received and receivable by him in respect of sales of any goods in the course of inter-State trade or commerce made during any prescribed period […]