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Old vs New tax regime: There is no single answer to this. Prima facia, it can be seen that taxpayers who do not have many deductions to claim can opt for the new regime, and those who have substantial deductions to claim resulting in lower tax can continue with the old regime. Looking at the […]
Important matters connected with TCS provision under section 206C(1H) Of Income Tax Act, 1961 1. The provision that has been brought at this time is only in relation to ‘sale of goods’ and services have been kept away from this provision. 2. This provision will be applicable to seller if the turnover is more than […]
Tax Deduction at Source (TDS) & Tax Collection at Source (TCS) are the prime mode of collection of Income Tax by the Government. It is imperative that Government takes all such action to widen the net of TDS & TCS and we have seen a hike in this in last couple of years. Now, one […]
In this blog, we will learn about the process of assignment of trademark in India and IP India trademark search INTRODUCTION: Trademark is an intellectual property. According to the Section 2 (zb) of the Trademark Act, 1999, “trademark” means a mark capable of being represented graphically and which is capable of distinguishing the goods or […]
Tax Collected at Source – TCS Section 206C: Seller shall collect tax from Buyer at the time of Debiting the amount or Receipt of amount, whichever is earlier. Exception: In two cases, Tax Collection at Source (TCS) shall be collected on receipt of payment: 206C (1F) Sale of Motor Vehicle 206C (1H) Sale of Goods […]
As per Section 56(1) any income/receipt shall be taxable under this head if it is not taxable under any other heads of income be it salary, profit and gains from business and profession, house property or capital gains. Income from other sources includes the following: DIVIDENDS Dividends are covered under the head Income from other […]
Business Income is the profit that is earned from the business. It is nothing but Total Revenue/Total turnover minus Total Expense. The profit from the business is the taxable income/business income.
INTRODUCTION ‘Public revenue’ (or Government revenue) is concerned with the Income of the Government through various sources. The Government collects/earns money through various forms of tax and non-tax revenue, and use this money to meet its administrative and other expenditures. Tax revenue are the ones which are derived by the process of direct and indirect […]
Over the period of time, a business grows and expands itself. Companies can either internally restructure the company, or amalgamate with some other company, in order to bring about a change. This growth can be organic or inorganic depending on the way the business chooses to grow.
A cross border merger is a merger of two companies which are located in different countries resulting in a third company. It could involve an Indian company merging with a foreign company or vice versa. The local company can be private, public, or state-owned company. Earlier only those cross-border mergers were allowed, where the transferee company was an Indian company and the transferor company was a foreign as per Indian law.
