The outbreak of Coronavirus has caused a significant impact on day to day living of the common man, government coffers, and business operations. Though lockdown remains the only way to slow the spread, it will also continue to push economic operations to the brink. We have outlined the GST impact due to the Coronavirus pandemic […]
Karnataka – Extension of Due dates for matters concerning Professional Tax, VAT, KTEG and Sales tax Due to the Pandemic Covid-19 outbreak and subsequent lockdown nationwide causing difficulties to various taxpayers adhering to the provisions of tax laws. The Karnataka Government extends certain due dates concerning payment of taxes, filing of appeals and concluding assessment […]
Financials Assistance by SIDBI Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing, and development of Micro, Small Enterprises and Medium Enterprises(MSMEs), has launched SAFE (SIDBI Assistance to Facilitate Emergency response against Corona Virus) scheme. It is a financial assistance program for MSEs which are engaged in the […]
The World economy is extended to take a major step back with the advent of Coronavirus outbreak. The Indian Government has been taking practice steps to address the issues concerning the citizens and businesses. On 24th March 2020, the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman announced important relief measures on statutory and […]
To make purchase of house affordable and give tax incentives to Real Estate Developers Government in the current Union Budget 2016, have announced 100% deduction of the profits and gains derived from construction business, by insertion of new section 80 IBA of Income Tax Act, 1961. Following are the conditions under the scheme:
Article explains GST on sale of second hand Car, Conditions to be satisfied for levy of GST on sale of second hand Car, Frequently Asked Questions related to GST on sale of used car and Illustration of GST on sale of used car.
The Hon’ble Chief Minister for the Statement of Karnataka has announced a comprehensive Karasamadha Scheme which provides for 100% waiver of interest and penalties under the following Acts:
Introduction Charitable Trust, for a layman is hub of noble deeds totally outside the purview of taxation. But what’s totally outside the tea cup of layman is the term taxation & hence a layman’s understanding on tax implications of charitable trust is heading towards misconceptions in its entirety. The most potent simplified classification of Indian […]
With the ever changing face of technology and networking, Startup is no more a buzz word in India. The young generation is ready to go lengths and risk their career map to ideate a startup.
Service Tax shall be levied on the service provided by way of access to amusement facility providing fun or recreation by means of rides, gaming devices or bowling alleys in amusement parks, amusement arcades, water parks and theme parks.
