Explore Equalisation Levy in India: provisions, applicability, rates, and examples. Understand the distinctions between specified services and supplies by E-commerce operators. Discover implications for non-resident service providers and E-commerce operators. Learn about payment procedures, non-applicability scenarios, and related provisions, including consequences of failure to deduct or delay payment.
The Story so far 1. Feb 01, 2020, Finance Minister speaks about the introduction of the scheme 2. On Feb 05, 2020, the Direct Tax Vivad se Vishwas Bill is introduced in the Parliament 3. Various representations received regarding the draft bill 4. On Mar 07, 2020, Circular No. 07/2020 issued along with 55 FAQs […]
Finance Act, 2018 inserted a new section 112A to provide for the rate of tax on long term capital gains arising on the transfer of certain assets. The capital assets on which the provisions of Section 112A applies include Equity Shares in a Company or unit of Equity oriented fund or units of a business […]
Benefits under the Income Tax Act, 1961 for units located in an International Financial Services Centre (IFSC) An International Financial Services Centre (IFSC) is an institution which deals with financial services, financial products and financial transaction which are undertaken on an international level. In India, the only IFSC is located in Gandhinagar, Gujarat commonly known […]
