The Finance Bill introduced alongside the Union Budget 2020 brought about an amendment in Section 6 of IT Act,1961 “Residence in India”, leading to Modification in Residency provisions and impact on NRIs.
The Residential status...
Filing of Income Tax Returns and paying taxes are the responsibility of every Indian citizen. Failure in paying the tax or filing the ITR can lead to interest payments. It is in your utmost...
It was 8 pm on the 8th November when heartbeat of every Indian skipped a beat because the Honourable Prime Minister of India announced that since midnight 500 rupee and 1000 rupee currency notes...
Extensions in Due Dates & Reduction in the Interest Rates was announced by the Finance Minister on 24th March 2020 through Press Release to relax some of the key compliance timelines & various relief measures Statutory and Regulatory compliance matters across Sectors for the taxpayers so that compliances can be met and there are no penal consequences for delays which are beyond the control of the everyone.
Benjamin Franklin once said, “In
this world nothing is certain but death and taxes”. So Why is that, When is
that, What is that, Who is that and How. Okay, here’s the answer to this-
Advance Tax....
The Union Budget brought about an insertion of Section 194O in the Income Tax Act,1961 effective from 1st October,2020 which warranted a tax deduction of 1% of the gross amount of goods, services, or both by the E-Commerce...
Earlier, the trusts were formed by affluent people of same community who infused corpus money out of their own savings and carried out charitable activities in the nature of relief for the poor, education...
The Government, via Taxation Laws (Amendment) Ordinance, 2019 passed on 20 September 2019, has introduced a favorable new corporate tax rate for new manufacturing companies. It has inserted Section 115BAB offering a low...