The GOI has directed sellers to collect TCS on payments received for sales starting 1 October 2020, if the total amount received from the buyer in the current financial year exceeds 50 lakh rupees. That means that for the first 50 lakh rupees that you receive in sales, you ne...
Tax Collection at Source or TCS, as the name implies, means collection of tax at source by the seller or collector, from the buyer of the goods. As prescribed under Income Tax Act 1961, it is mandatory on the part of the buyer to pay a predetermined value of TCS to the seller, ...
Non-Operating Interest Income Equity in Affiliates (Pretax) Interest Expense - Interest Expense Growth - Gross Interest Expense - Interest Capitalized Pretax Income - Pretax Income Growth - Pretax Margin Income Tax - Income Tax - Current Domestic - Income Tax - Current Foreign - Income Tax - ...
That includes the product sale price as well as the new member who purchased being added to your personal team. This is huge and has the potential to give you massive leverage and geometrically grow your income. The TCS structure is not a get-rich-quick program by any means. It's a sim...
When the IRS processes your refund and on the transcript you see TCS TREAS 449 for TAX REF that means the following: "If your client's refund is less than expected and you see a coinciding TCS TREAS 449 offset, this means thatthe tax payers refund has been reduced to repay a debt coll...
For the purpose of tax deducted at source under GST, the value of supply is to be taken as the amount excluding the tax indicated in the invoice. This means TDS shall not be deducted on the CGST, SGST/UTGST or IGST component of the invoice. ...
Refund of Unutilised Input Tax Credit for Zero-Rated Supplies What is Input Tax Credit under GST? Input Tax Credit (ITC) means claiming the credit of the GST paid on the purchase of goods and services which are used for the furtherance of the business. ITC is a mechanism to ...
Same is true for manufacturing, sequential growth numbers are much better than the year-on-year comparatives, reflecting the returning strength. But by far, it has not completely — I mean, in no means has it fully recovered. So we are more focused on the trajectory. As you will notice,...
"Tax" means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any associated penalty or interest payable) required by law. "Transaction" means any transaction: (a) made between the Parties; (b) effected by Us on Your Instruction; or (c) made ...
Its aim is to increase the fiscal resources allocated to the rural sector, particularly by means of the creation of the National Fund in Support of Agriculture. It should increase yields and make land tenure more secure through the application of the decree on the registration of agricultural ...