CS Shipra Joshi's Posts - Page 4

Taxation of Income from Sale of Shares

If equity shares listed on a stock exchange are held and sold after 12 months of purchase, the seller may make a long-term capital gain (LTCG) or incur a Long-term capital loss (LTCL)....

Posted Under: Income Tax |

Foreign lawyers allowed to work in India

On March 15, the Bar Council of India (BCI) notified Rules for Registration and Regulation of Foreign Lawyers and Foreign Law Firms in India, 2022 and gave a green signal to foreign lawyers and law firms for practicing in India. In a pathbreaking development, the Bar Council of India has decided to permit foreign lawyers […]...

Posted Under: Income Tax |

Doing Business in India – FDI Policy, Entry Routes, Permitted & Prohibited Sector

Doing Business in India – Foreign Direct Investment (FDI) Policy / Entry Routes, Permitted and Prohibited Sector, Eligible Investors and Investees Introduction The Government of India (GoI) has been focusing on making business operating in India an easy process. The concept of ease of doing business has picked up pace in past years....

Posted Under: Income Tax |

Tax Liability of a Non Resident Indian (NRI)

In India, the tax liability of any individual is based on his residential status. There are three types of residential status under Income Tax Act 1961,  Resident (ROR) Resident but Not Ordinarily Resident (RNOR) Non-Resident (NR) Non Resident Indian (NRI) The Income Tax Act 1961 does not expressly define an Non Resident Indian (NRI), bu...

Posted Under: Income Tax |

Types of GST Returns – India

Article explains about GST Returns namely GSTR- 1, GSTR 2, GSTR- 2A, GSTR- 2B, GSTR-3B, CMP-08 (Earlier GSTR-4, for composition-scheme taxpayers only), GSTR 4 (Annual), GSTR-5 (for non-resident taxpayers), GSTR-5A, GSTR 6, GSTR-7, GSTR-8, GSTR-9, GSTR-9C, GSTR-10, GSTR-11 and ITC-04- Return Description Due dates Late fees/Penalty GSTR- 1¬...

Posted Under: Income Tax |

What is the New Tax Regime Everyone is Talking about?

Finance Minister, Mrs. Nirmala Sitharaman introduced a New Tax Regime (NTR) in 2020, and gave taxpayers the option to choose between the traditional tax system and the new one introduced.¬† What is NTR? In the NTR, there are lower income tax rates and additional slabs however there is no option of availing tax exemptions and […]...

Posted Under: Income Tax |

5 Major Updates on Personal Income Tax under Budget 2023

The Financial minister of India, Mrs. Nirmala Sitharaman, presented the Union Budget for the year 2023-24. There have been various updates and proposals to different sectors of the Indian economy. The major changes have also been made under Personal Income Tax under New Tax Regime.  The following are the major updates made under Personal...

Posted Under: Income Tax |

BSE Circular mandating XBRL filing of announcement by listed companies

The Bombay Stock exchange (BSE) issued a circular on January 27, 2023, filing of announcement under Listing agreement in eXtensible Business Reporting Language (XBRL) XBRL format.   Disclosures requiring XBRL filing  With effect from January 28, 2023, the following disclosures are to be filed in XBRL format. The list of disclosures und...

Posted Under: Income Tax |

Fixed Deposits as Tax saver under Section 80C of Income Tax Act

A Fixed Deposit(FD) is a type of deposit account of any individual with the bank, wherein, the amount deposited by the customer is kept for a fixed tenure or period and the bank pays a fixed interest rate on the sum deposited. Fixed Deposit can not only provide you good returns but can also come […]...

Posted Under: Income Tax |

Applicability of Corporate Social Responsibility – Companies Act 2013

Section 135 of Companies Act, 2013 provides for provisions regarding Corporate Social Responsibility (CSR) requirements for companies. Every company falling within the prescribed threshold of paid up capital and net profits is required to comply with the provisions of CSR stated under the abovementioned section. ...

Posted Under: Income Tax |

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