Circular No. 5 of 2023, issued by CBDT, provides guidelines for the implementation of section 194BA of Income-tax Act, 1961. This section pertains to the deduction of income tax on winnings from online games.
As per Sec 194N of the income tax act, TDS is to be made -@ 2% if the aggregate cash withdrawal/s exceeds 1 crore – where the ITR is filed for the preceding previous year. -@ 2%, where withdrawal exceeds Rs.20 lakhs but not Rs.1 crore, @ 5% where withdrawal exceeds Rs. 1 crore — […]
In #budget 2020 speech, our FM came up with the news of online allotment of PAN based on Aadhaar details (online PAN). The mechanism is implemented in less than 2 weeks of time by the Income Tax Department. Let’s know about who can avail, conditions, steps and many more… Who can get the online PAN?? […]
MCA Notified the Companies (Auditor’s Report) Order, 2020 (CARO 2020) Applicability: The The CARO, 2020 is applicable for audit of financial statements of eligible companies for the financial years commencing on or after the 1st April, 2019. Changes in the CARO 2020. 1. There are no changes in the applicability of CARO, 2020. 2. There […]
