Difference between PAN and TAN

October 26, 2021 By newtaxindia Off

PERMANENT ACCOUNT NUMBER (PAN) PAN is assigned to all the taxpayers in India as an identification number. PAN number is a single number which is an electronic system and has all the tax related information for a company or for a person. This act as…

ITC can’t be claimed on GST paid on Inputs Services

October 26, 2021 By newtaxindia Off

ITC can’t be claimed on GST paid on Inputs Services procured to implement Promotional Scheme under ‘Buy n Fly’: The Tamil Nadu Authority of Advance Ruling (AAR) ruled that the Input Tax Credit (ITC) cannot be claimed on GST paid on inputs services procured to…

18% GST payable on Children Scooter & Activity Ride-on

October 26, 2021 By newtaxindia Off

The Tamil Nadu Authority of Advance Ruling (AAR) ruled that 18% GST payable on Children Scooter, Activity Ride-on, Smart Tri-cycle and Kick Scooter. The applicant, Joshna Candesh Shah are regular importers and traders of toys from various countries, they sell these goods in India, in…

Advantages of filing an Income Tax Return

October 25, 2021 By newtaxindia Off

Who should file Income Tax Return and what are the advantages of filing an Income Tax Return?Any person as described under to section 2(31) of Income tax act are required to file Income tax return if their total net income falls under the taxable category.…

Will the Stock market bubble burst?

October 22, 2021 By newtaxindia Off

Will Stock market bubble burst or enlarge? Are we really in Stock market bubble?taxguru.in/finance/stock-market-bubble-burst-enlarge-stock-market-bubble.htmlWill Stock market bubble burst or enlarge? Are we really in Stock market bubble? What is Stock Market Bubble ? Unjustifiable High Prices of the shares is a bubble as a result…