APY, the flagship social security scheme of the Government of India, which was launched on 9th May 2015, with the objective to provide old age income security to all Citizens of India, particularly to the people working in the unorganised sectors, has recently crossed the landmark of 5 crore enrolments. The scheme has done very […]
The Union budget 2023 presented in the Parliament today on 1st February 2023, the Finance Minister proposed five major announcements for tax payers: 1. Nil tax, upto income Rs. 7 Lakhs (After Rebate U/S 87A) 2. Six Income slabs and new tax rates 3. Standard Deduction Rs. 52,500/- for salaried person with an income of […]
Newly section insert by finance Act 2023, 1) Insertion of new section 50AA: Special provision for computation of capital gains in case of Market Linked Debenture., 2) Insertion of new section 194BA: TDS on Winnings from online games , 3) Insertion of new section 80CCH: Deduction in respect of contribution to Agnipath Scheme As per […]
Budget 2023 highlights: All eyes are glued to the Budget announcements being made by Finance Minister Nirmala Sitharaman in the Parliament. Govt is planning to spend Rs 2200 crore for high-value horticulture and an increase in agri credit target to Rs 20 lakh crore are some of the key announcements so far. Finance minister Nirmala […]
Personal Income Tax (For Individual, HUF, AOP (other than co-operative) BOI and AJP Currently Tax will be nil up to Income ₹ 5 lakh in both regime (old and new), in proposed scheme this limit increase up to ₹ 7 lakh in the new tax regime. It means that in old regime limit of ₹ […]
The gross GST revenue collected in the month of January 2023 till 5:00 PM on 31.01.2023 is Rs 1,55,922 crore of which CGST is Rs 28,963 crore, SGST is Rs 36,730 crore, IGST is Rs 79,599 crore (including Rs 37,118 crore collected on import of goods) and cess is Rs 10,630 crore (including Rs 768 crore collected on import of goods).
As we approach the conclusion of the Council year 2022-23, this is my last communication in the journal as the President of the Institute. I am really mesmerized by the strength of the profession, its pursuit of continuous growth, working steadfastly to inspire trust and confidence amongst stakeholders.
Companies register offshore for a variety of reasons, including tax benefits and financial privacy. Whether you need a company abroad depends on your specific business needs and goals.
Article contains Explanatory Memorandum to Notification Nos. 02 to 12-Customs, dated the 1st February, 2023 and Explanatory Memorandum to Notification No. 05/2023-Central Excise, dated the 1st February, 2023 which are notified to give effect to changes proposed by Union Finance Budget 2023-24. Explanatory Memorandum to Notification Nos. 02 to 12-Customs, dated the 1st February, 2023: […]
Introduction The Indian Union Budget 2023, which is the annual financial statement of the Government of India, was presented by Finance Minister Nirmala Sitharaman on 1 February 2023. This year’s budget has witnessed a significant shift in focus, as the Union Government has made substantial investments to stimulate the economy, improve access to education and […]
