MASD & Co

MASD & CO is a leading Chartered Accountancy firm rendering comprehensive professional services.

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Know about Tax Residency Certificate, its Use, Importance and Procedure to obtain the same.

#TRC #identityofperson #laws #benefits #DTAA #doubletaxation #transparency #agreement #CBDT #proof #of #residency

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Received Notice or Order from GST Department???
There are several types of assessments in the GST regime i.e., self-assessment, provisional assessment, summary assessment and best judgment assessment. Let us understand in detail.

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FC, not just compliance, but also a means to improve business processes through eliminating all the risks and weaknesses in various processes thus resulting in operational efficiency, which has turned out to be beneficial for every company.

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Gifts are usually capital receipts by nature. The Income Tax Act, 1961 which is levies tax on incomes, that is revenue receipts, carves out certain exceptions and levies tax on capital receipts as well. Gifts are one such receipt.

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Summary of 43th GST Council Meeting.
#gstupdate #gstcouncil #gstreturns #gstcompliance #supply #annualreturn #councilmeeting #gstpayment #tax #indirecttaxation

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Have you realigned operating policies & procedures of your company with IFCs and brought more automation in process controls? Well, integration of IFC testing with Internal Audit and improving the overall business performance has turned out to be beneficial for every company.

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Income Tax Authorities issues Circular giving Relaxations in COVID-19 Pandemic by extending the due dates of the forthcoming Income Tax Filings.

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Are you worried about your customers defaulting in payments? Vendors defaulting in fulfilling their terms after you pay advance to them? Are you capturing all relevant details before you deal with any party?
#minimizationofrisk #KYC #Turnoverratio #preliminarychecks #compliances

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Sending warm wishes on this EID and wishing that it brings your way ever joys and happiness.
Stay Safe.!

EID MUBARAK!

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New Limits given by Income Tax Authorities for Non-Residents.

Income Tax has prescribed threshold limits for Non-Residents which provides Clarity Regarding SEP, in turn widening their scope of income.

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Relaxation in GST Compliance's COVID'19

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Amidst the ongoing situation due to COVID-19, market regulator SEBI on Thursday, 29th April,21 provided relaxation to companies from compliance with the provisions of LODR Regulations vide circular no. SEBI/HO/CFD/CMD1/P/CIR/2021/556

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GST has introduced new invoicing system known as E-Invoicing for business having turnover 50 crores or more. Check out the article for applicability and how the system works.
#GSTportal #Einvoicing #IRP #Supplies #B2Btransactions #Buyers #turnover

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Every business have to determine their own type of costs to be incurred. It is important for businessmen to determine the costing of products for make cost effective strategies and reduce the COP.
For full article visit our website: https://t.co/kQzq0tcEgd

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TDS Updates for FY 2021-22🖊📜

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Key Indirect Taxes Considerations for FY 2021-22📝📝

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Facing problems while GSTR-2B reconciliations..?
In this article, we have tried to explain the possible situations & Solution while 2B reconciliations.
Also, for template regarding reconciliation of 2B, kindly refer the link: https://t.co/L1ass8KUpg...

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Having foreign income and unable to understand how to take credit of foreign tax?
Following article will help you to get clarity on how to claim foreign tax credit...‼‼
#incometax #foreignincome #DTAA #foreigncredit #taxrelief #TRC #taxevasion #doubletaxation #tax

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Are you forgetting something..?🤔

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While crypto-currency has become the talk of the town since few months, we are here to present an article on the Taxability of transactions in crypto-currency under the Income Tax Act, 1961.
#cryptocurrency #incometax #Taxability #digital #legaltender #statutorylaws #legalization