Section 194Q – TDS on PAYMENT for PURCHASE of GOODS (w.e.f. 01.07.2021) 1. Applicable on BUYER i.e. person making payment 2. On GOODS purchased – not on services 3. SELLER is RESIDENT i.e. not applicable to Non-Resident (not having any permanent establishment in India). 4. BUYER has TURNOVER from business EXCEEDING Rs.10 CRORES in the […]
32 Amendments relating to Assessment Year 2020-21 (Finance Act 2019) alongwith Section 111A, 112, 112A, 115JB, 115JC, 115BAA and 115BAB explained RATES OF TAXES APPLICABLE TO ASSESSMENT YEAR 2020-2021 (FINANCIAL YEAR 2019-2020) A. INDIVIDUAL AND HINDU UNDIVIDED FAMILY a) Individual Below 60 years /HUF Particulars of Taxable income Rate a Income up to Rupees 2.50 […]
HIGHLIGHTS OF FINANCE BILL, 2020 APPLICABLE TO ASSESSMENT YEAR 2021-22 (FINANCIAL YEAR 2020-21) (HOWEVER SOME AMENDMENTS ARE PROPOSED TO BE EFFECTIVE FROM 1.4.2020/ DIFFERENT DATES NOTIFIED AND SOME ARE APPLICABLE TO ASSESSMENT YEAR 2020-21 ALSO) 1. TAX RATES A. TAX RATES APPLICABLE TO INDIVIDUAL AND HINDU UNDIVIDED FAMILY (HUF) a) Option – I (OLD SCHEME) […]
