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MasterBrains

KNOW MASTER BRAINS UP-CLOSE AND PERSONAL

Business owners and managers struggle daily to find perfect consultants for varied financial and legal needs. Intending to balance between expertise and requirements, we exceed our budget and lack of contacts makes it almost impossible to find the right consultant.

Master Brains will connect you to its spread of qualified professionals Pan India.
Just fill in a short query form at Click Here...
mentioning your requirement or problem and leave the rest on us. We will connect you with the right expert in the subject matter. Our consultants are well-enabled to solve everyday business queries to complex matters.


INDUSTRY'S TAKE ON TCS UNDER SECTION 206C(1H) OF THE INCOME TAX ACT

The insertion of Section 206C(1H) to the Income Tax Act of 1961 vide Finance Act of 2020 extended the current TCS provision a step further. What is 206C(1H)?

According to the section, a seller has to collect tax at source @ 0.1% of the sale consideration exceeding fifty lakh rupees...


GST-Return

THE IMPORTANCE OF GSTR 3B OF SEPTEMBER 2021

The last date for filing GSTR 3B of September 2021 is 20th October 2021. Do you know it is also the last date for availment of Input Tax Credit for invoices or debit notes pertaining to the Financial Year 2020-2021 as per Section 16(4) of Central Goods and Services Tax Act, 2017 ('CGST Act')? Any credit that has not been claimed for the financial year 2020-2021 by the above date, would lapse.


FAKE INVOICING: WHAT DOES IT MEAN? WHAT DOES COURTS SAY ABOUT IT?

Goods and Services Tax Act does not define 'Fake Invoicing'. However, the general understanding means invoices against which actual supply has not been made or supplies against which invoices have not been issued and alike.


invoking_arrests

CAN ARRESTS/ DETENTION PROVISIONS BE INVOKED WHEN APPEARING FOR SUMMONS UNDER GST?

Have you heard about the arrest/detention provisions under the GST Act? Have you also received a summon from GST Authorities?

In all good intentions, the department has been rigorously investigating fraudulent availment of Input tax credit ('ITC') and fake invoicing cases where the actual movement of goods never happens.


WHAT ARE THE PRACTICAL AND LEGAL CHALLENGES FACED BY STARTUPS IN INDIA?

Before delving into discovering the practical and legal challenges startups face, there is a need to understand the term and concept of a ‘Start-Up.' As per the Department for Promotion of industry and Internal Trade (DPIIT), MOCI, under its Start-up India Scheme, a startup is an entity that has the following salient features...


RedCarpet

FROM RED TAPE TO RED CARPET: NOW SET YOUR BUSINESS IN INDIA HASSLE-FREE

India is an attractive place to do business. India is considered an ideal location in an emerging market with ample potential to gain value without sacrificing quality, attracting large multinationals from around the world looking for low-cost and viable solutions to start their business in India.

Everybody wants to sell in India… How to enter in attractive Indian Markets?...


KNOW KEY HIGHLIGHTS AND THE BLOCKBUSTER ANNOUNCEMENT OF UNION BUDGET 2022

On February 1, 2022, Honourable Finance Minister Nirmala Sitharaman presented the Union Budget for 2022-23, announcing it to be the roadmap for the next 25 years of the new age India. The aim of this budget is to focus on accelerating India's recovery from the shock of the pandemic and strengthening the country's health care system to prevent future outbreaks.


DIY - Income Tax Returns

DIY - Income Tax Returns

Do It Yourself - DIY - Filing of Income Tax Returns

Learn to pay tax online by following simple easy to go steps
Don’t be confused between the old tax regime and the new tax regime.
The answer is simple - Use our Tax Calculator at - Tax Calculator
The new income tax regime enumerates the following tax slab rates for FY 2021-22 and the old income tax regime enumerates the following...

 
     
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