Understand the tax implications on reconstitution of firms, AOPs, and BOIs under the new taxation regime. Learn about section 9B and its interplay with other related sections.
Finance Act, 2021 has brought a major overhaul in the law pertaining reassessment proceedings under the Income-tax. This will change not only the procedure under which reassessment proceedings were held but shall also change the structure of litigation that used to arise in any typical reassessment case. Substitution of section 147 of the Act Section […]
Start-up India initiative is one of the pertinent initiatives that every budding entrepreneur should be aware of. It enables the start-up to gain various benefits under Income-tax Act, 1961. The requirement is nothing but registration on the Start-up India portal. However, there are some pre-requisites for being eligible to get registered as a Start-up. Vide […]
Finance Act, 2020 made a paradigm shift in the process of registration of public charitable trust by inserting a new section 12AB. Though the same to be made applicable from 1st June, 2020, the pandemic delayed its applicability and the same was made applicable recently on 1st April, 2021. The notification making the same applicable […]
However, registration process under section 80G has also been amended with similar effect as that of section 12AB & section 10(23C)
Finance Act, 2020 has amended section 6 to insert new sub-clause (1A) with an intention to bring into tax net the persons who are not liable to pay tax in any country due to their domicile or residency or any other criteria of similar nature. The newly inserted clause reads as under: “(1A) Notwithstanding anything […]
