INCOME TAX ♦ Income Tax Rates There is no change in the Rates of Income Tax for the AY 2022-23. . ♦ TDS and TCS Rates- No Further COVID Relief TDS and TCS Rates had been reduced by 25% during FY 2020-21 due to COVID-19. However, with effect from 1st April 2021, original TDS and […]
Modification of residency provisions In order to bring prevent tax abuse the Finance Act, 2020 modified the Residency Provision. According to the un-amended Section 6, an individual is said to be resident in India in any previous year, if he— (a) is in India in that year for a period or periods amounting in all […]
Latest Analysis The Vivad se Vishwas scheme was presented in the Budget 2020 on 1st February 2020. Due to administrative and procedural delays, the President gave assent to the Scheme on 17th March 2020. The Scheme is applicable to all income tax cases in dispute as on 31st January 2020. The pending appeal may be […]
