TDS | TCS | New rates | from 14-5-2020 | Download Free E Book

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Telegram channel : 'TaxByKK'



Due to COVID situation there are few changes which were announced including reduction in TDS and TCS rates in Income Tax. These rates were reduced to the extent of 25% from the basic rate.


This e-book can be downloaded if you join our Telegram channel: 'TaxByKK'


In addition to that we are happy to announce we shall start income tax live classes for CA IPCC Taxation, CA Inter Taxation, CS executive Tax laws and Practice, CMA Inter Direct tax and anyone who would like to learn income tax.
It will cover all five heads plus deductions u/s 80C to 80U, TDS, TCS, advance tax, interest, filing of return and many more topics
So you are an accountant doing tally and want to learn income tax then this is best place for you.

ABOUT CS K K AGRAWAL
GST Consultant | Trainer | Speaker | Faculty
He is a company secretary and is a consultant, author, speaker, trainer and faculty of both Direct Tax and Indirect Tax having an experience of more than 20 years. He is a leading speaker on GST and has been speaking at various forums of ICAI and ICSI. He is an associate consultant (off-counsel) at ALA Legal which is the leading law firm of India where he is actively engaged in GST Strategy formulation, GST Implementation, GST Audit and advisory.

He along with Puneet Agrawal has authored the book Sabka Vishwas published by Taxmann.

He has also authored the book
a. IT IS SIMPLE : GST and
b. Income tax
published by tax by kk.

Few forums where he has participated as a speaker and trainer.
a. Sales Tax Bar Association, Delhi
b. ICAI Guwahati
c. ICAI, Jamshedpur
d. ICAI, Dhandbad
e. ICAI, Bokaro
f. ICAI, Ranchi
g. ICAI, Shivaji Marg, Delhi
g. ICAI, Pusa Study Circle, Delhi
h. ICAI, East Delhi, Delhi
i. BVSS
j. ICAI, Ashok Vihar, Delhi
k. Paharganj Traders Association.

Address: Ashok Vihar, Delhi

What’s app: 9999227381

Invitation link to telegram channel

Invitation link for practitioners: https://t.me/taxbykk

Invitation link for students: https://t.me/taxbykkstd

Why GST?

2.0 A common refrain in the popular discussions is what is the need for the introduction of GST? To answer that question, it is important to understand the present indirect tax structure in our country. Presently the Central Government levies tax on manufacture (Central Excise duty), provision of services (Service Tax), interstate sale of goods (CST levied by the Centre but collected and appropriated by the States) and the State Governments levy tax on retail sales (VAT), entry of goods in the State (Entry Tax), Luxury Tax, Purchase Tax, etc. It is clearly visible that there are multiplicities of taxes which are being levied on the same supply chain.

There is cascading of taxes, as taxes levied by the Central Government are not available as setoff against the taxes being levied by the State governments. Even certain taxes levied by State Governments are not allowed as set off for payment of other taxes being levied by them. Further, a variety of VAT laws in the country with disparate tax rates and dissimilar tax practices, divides the country into separate economic spheres. Creation of tariff and non- tariff barriers such as Octroi, entry Tax, Check posts etc. hinder the free flow of trade throughout the country. Besides that, the large number of taxes creates high compliance cost for the taxpayers in the form of number of returns, payments etc.

What is GST?
3.0 All the taxes mentioned earlier are proposed to be subsumed in a single tax called the Goods and Services Tax (GST) which will be levied on supply of goods or services or both at each stage of supply chain starting from manufacture or import and till the last retail level. So basically any tax that is presently being levied by the Central or State Government on the supply of goods or services is going to be converged into GST.