Explore reality of startup deductions & Tax Illusion they create in Indian economy with Startup India Initiative. Discover dedicated team managing many programs & governing initiative with this post.
Uncover the controversy surrounding reassessment notices under section 148 of the Income Tax Act. Explore the Supreme Court judgment, CBDTs interpretation, and the potential impact on past assessment years. Delve into the misfortune or misinterpretation in this legal landscape.
Reply To NFRA On Consultation Paper On Statutory Audit And Auditing Standard For Msmc You have recently issued a consultation paper on statutory Audit and Auditing standard for MSM Companies. You have framed 4 questions for the comments of stakeholders including Chartered Accountants: You had issued the consultation paper for relaxation of compulsory audit to […]
Importance of Tax Audit : Most important functions of chartered Accountants in Practice is discharging of onerous liability of Tax Audit function conferred upon them by Income Tax Act. As we know, Provisions of tax audit is mainly governed by Section 44AB r.w.s. 44AD of the Act. There are various points which generally confused practising […]
Taxability of a person is largely dependent on residential status. The Indian Government had also brought out major changes in provisions related to determination of residential status in last year. Section 6 of Income Tax Act Contains the provisions related to determination of residential status.
Tax-to-GDP ratio represents the size of a country’s tax kitty relative to its GDP. It indicates the size of the government’s tax revenue expressed as a percentage of the GDP. A higher tax to GDP ratio means that the government is able to cast its fiscal net wide. It reduces a government’s dependence on borrowings […]
Concept of Unjust enrichment refers to situations in which one person is enriched at the expense of another in circumstances which the law treats as unjust. Whenever the word unjust enrichment is told by someone two names immediately crept in the mind one is highest authority of indirect tax i.e. CGST and other one is […]
After declaration of economic stimulus package ‘ATMANIRBHAR BHARAT PART 1’ ON 13/05/2020 by finance minister which was largely related to MSME, most of persons are curious about MSME units and it has been one of the most searched words in the web world of Indian sub-continent. To enlighten the public at large on various relevant […]
Income Tax have various contentious issues despite being one of the oldest Law of the Land. On these issues assesse and revenue used to loggerhead each other on various form of Authorities. Taxation of AGRICULTURAL INOCME is also one of such contentious issue. One of the main reason for various dispute on Agriculture Income is attribute […]
In Income Tax Act there are various section which are frequently being used by the assesse and assessing officer in their day to day working but still assesse and department is not consensus on various points of various section. Section 154 titled as ‘RECTFICATION OF MISTAKE‘ is also one of those section of the Income […]
