In case of every Individual (resident or non-resident) or HUF or Association of Persons or Body of Individuals or any other artificial juridical person
Finance Bill’2018 has proposed some major changes impacting trusts. 1) Mandatory Requirement of obtaining PAN for the Trustees: Section 139A is amended to propose that every person, not being an individual, which enters into a financial transaction of an amount aggregating to two lakh and fifty thousand rupees or more in a financial year shall be required to apply to the Assessing Officer for allotment of PAN.
The eyes were all set in this budget also by Startup community what the Finance Minister will bring for them. However, there was not much to celebrate. Still, they didn’t go unnoticed. I have listed down budget proposals benefiting Startups.
The honorable finance minister Shri Arun Jaitley presented the budget on 1st February’2018. There were not much tax incentives for the taxpayers. Still, there were some proposals to benefit senior citizens. 1)Deductions available to senior citizens in respect of health insurance premium: Section 80D provides a deduction to Individual and HUF in respect of payment […]
Guide to filing income tax returns for A.Y 2018-19. Learn about the mandatory filing requirements and income thresholds for individuals.
One of the major questions running in the minds of CA aspirants, who are opting for transition under Revised Scheme of Education and Training, is What are Open Book Exams?. Through this Article, we’ll try to resolve all your major questions and queries regarding Open Book Exams introduced by the Institute in the category of Elective Paper 6 of CA Final Examinations and give you an insight about the same.
Basis of Charge, Residential Status, Income which do not form part of total income, heads of income, income of other person included in assessee’s total income, aggregation of income, set-off and carry forward of losses, deductions from gross total income, rebates and reliefs.
This year when finance minister was set to present the budget on 1st February’2017, Startup Industry was expecting many incentives from the government. Many Demands of startups are not met in this budget. Still, some benefits are given to startups; I have summarized what all concessions are there for Startups in this budget.
This government has shown its keen interest in building an entrepreneurial culture in the country. To encourage more entrepreneurs, the government has regularly taken necessary steps. Culture is an important part of the entrepreneurial environment. Standup India scheme is one of such step in this direction. The scheme was launched by Prime Minister Shri Narendra Modi on 05 April’2016.
With a view to facilitate startups various tax exemptions are provided by Finance Minister Shri Arun Jaitley. In this article we are discussing various tax incentives provided to startups:
