KnowyourGST-Blog on Indian Tax and Accountign Laws

TDS on Premature withdrawal from Employees Provident Fund [Section 192A] AY 2019-20 onwards

Compliance with Rule 9 of Part A of the Fourth Schedule: Certain Concerns Part A of the Fourth Schedule to the Income-tax Act, 1961 contains the provisions relating to Recognised Provident Funds. Under the existing provisions of Rule 8 of…

by Ca Ankit Sharma 11/01/2019 under Income-Tax

TDS on salary (Section 192) | AY 2019-20 onwards

This section casts an obligation on every person responsible for paying any income chargeable to tax under the head ‘Salaries’ to deduct income-tax on the amount payable. In simple words, TDS is to be deducted by every employer w…

by Ca Ankit Sharma 11/01/2019 under Income-Tax

Introduction to TDS and TDS rate Chart | AY 2019-20 onwards

DEDUCTION AT SOURCE AND ADVANCE PAYMENT [SECTION 190] The total income of an assessee for the previous year is taxable in the relevant assessment year. For example, the total income for the financial year (FY) 2018-19 is taxable in the asses…

by Ca Ankit Sharma 11/01/2019 under Income-Tax

Self assessment tax payment procedure

How income tax is collected by Central Government? Income tax is collected by Central Government in the form of - Tax deducted at source (TDS) Tax collected at source (TCS) Advance tax Self assessment tax What is self asses…

by Ca Ankit Sharma 11/01/2019 under Income-Tax

Advance tax payment procedure

What is advance tax? Under Income tax act, advance tax is the mechanism by which Central Government collects taxes payable in the assessment year in previous year itself. Example : Tax payable for the financial year 2018-19 is payable in the ass…

by Ca Ankit Sharma 10/01/2019 under Income-Tax

Annual Compliance by One Person Company

Copy of financial statement is to be filed with Registrar Every One Person Company has to file a copy of its financial statements along with all the documents annexed to financial statement and adopted at AGM with the Registrar. Fin…

by Ca Ankit Sharma 10/01/2019 under Company-Law

Annual Compliance by Private Limited Company

Copy of financial statement is to be filed with Registrar Every Private Limited Company has to file a copy of its financial statements including consolidated financial statement, if any, along with all the documents annexed to financial…

by Ca Ankit Sharma 10/01/2019 under Company-Law

Annual Compliance by Limited Liability Partnership

S No Document E-Form Due Date 1 Statement of Account & Solvency Form 8 30th October 2 Annual Return Form 11 30th May 3 Income Tax Return ITR 5 31st J…

by Ca Ankit Sharma 10/01/2019 under Company-Law

How to submit/file forms to MCA

To submit any application/form to MCA, visit www.mca.gov.in, Log in to your account. If not registered, create your account, by clicking on ‘Register’ in top menu. After you log in, click on 'Upload e-forms' Nex…

by Ca Ankit Sharma 10/01/2019 under Company-Law

Incorporation of One Person Company

Features of One Person Company It has only one person as member. Minimum capital required is NIL. The memorandum of OPC shall indicate the name of the other person, who shall, in the event of the subscriber’s death or his incapacity …

by Ca Ankit Sharma 09/01/2019 under Company-Law

Intimation of address of registered office of the Company to Registrar

Applicability Every Company has to intimate Registrar, address of registered office of the Company, in following two cases : Company at the time of incorporation did not give address of the registered office, and had given only corresponden…

by Ca Ankit Sharma 09/01/2019 under Company-Law

Article of Association of the Company

What is AOA The articles of association is a document that specifies the regulations for a company’s operations and defines the company’s purpose. The document lays out how tasks are to be accomplished within the organization, includi…

by Ca Ankit Sharma 09/01/2019 under Company-Law

Memorandum of Association of Companies

As per section 2(56)―memorandum means the memorandum of association of a company as originally framed or as altered from time to time in pursuance of any previous company law or of this Act;It is the base document for the formation of the company an…

by Ca Ankit Sharma 09/01/2019 under Company-Law

Incorporation of Private Limited Company

Features of Private Limited Company Minimum capital required is NIL. Minimum number of members should be 2 Maximum number of members – 200, excluding present employee-cum-members and erstwhile employee-cum-members. Right to transfe…

by Ca Ankit Sharma 09/01/2019 under Company-Law

Availability and Reservation of Company name

Name of the company shall not be : identical with or resemble too nearly to the name of an existing company registered under this Act or any previous company law; or such that its use by the company - will constitute an offense under a…

by Ca Ankit Sharma 09/01/2019 under Company-Law