Income Tax
AO not permitted to invoke the provisions of section 56(2)(vii)(b)(ii) in the absence of sub clause (ii) in the Act as on the date...
Parinda Borda vs. ITO
Where the assessee had entered into agreement to sale cum possession of immovable property and paid substantial consideration prior to...
Finance
E-Rupi Digital Payment Platform- First step towards adoption of digital currency in India
Introduction
On 2 August 2021, PM Narendra Modi launched a digital
payment platform called e-RUPI Digital Platform. National Payments Corporation
of India (NPCI) in association with...
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Finance
Virtual CFO Services – A smart choice for newgen
What is Virtual CFO?
Virtual CFO (or vCFO for short) stands for virtual Chief financial officer. A virtual CFO is an outsourced service provider offering high skill assistance in...
GST
QRMP: Quarterly Return Monthly Payment Scheme under GST
Taking another step towards the goal of increasing “Ease of doing business” in India and providing relief to small taxpayers; the GST Council in their 42nd...
Income Tax
Rates of TDS applicable for financial year 2021-22 or assessment year 2022-23
Tax Deducted at Source, also known as TDS, is a system of taxation where the person/entity responsible for making specific payments deducts the applicable...
Income Tax
Faceless Penalty Scheme, 2021: Simplified
The Central Board for Direct Taxes (CBDT) vide Notification No. 3 of 2021 dated January 12, 2021, has notified the “Faceless Penalty Scheme” for...
Income Tax
Section 115BAA – New tax rate of 22% on domestic Companies
The new section – Section 115BAA has been inserted in the Income Tax Act,1961 to give the benefit of a reduced corporate tax rate...
Company Law and IBC
Snapshot of compliance tracker for ROC forms – FY 2020-21
All the business structures registered in India i.e. Private Limited Company, Public Limited Company, One Person Company, Limited Liability Partnership etc. need to file...
Top News
How to file an RTI application: A step-by-step guide
If that's the question on your mind, you are at the right place. In this article, we will see how to file an RTI...
Income Tax
Income Tax Slab Rate for AY 2021-22 (Latest)
Income tax payment for individuals and corporate entities is a mandatory requirement as per the Income Tax Act, 1961 if their annual income is...
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