A trust is a relationship in which a person or entity is bound by a fiduciary relationship to exercise that legal rights over the trust property for the benefits of any one or more individuals known as beneficiaries. The trust shall be governed by a set of written terms and conditions known as trust deed. […]
According to Section 2(37) of companies Act, 2013, Employees stock option schemes is an option given to the directors, employees or officers of the company or its holding and subsidiary company, the right to purchase or benefits or subscribe for the shares of the company at the pre determined price for a future dates. Therefore […]
Understanding retrospective taxation in India: a comprehensive guide to the concept, its objective, and its impact on foreign corporations.
With the increased reliability of income tax on e- mode a large number of individuals opt to file their return on their own. While filing of ITR has several advantages but committing minor mistakes may sometimes attract huge penalties therefore one should be cautious while filing his own ITR. In this article we will be […]
Relief measures announced due to Covid outbreak & 25% Tax under Section 115BA on certain Domestic Companies Relief Measures Announced By Finance Minister DUE TO COVID-19 Outbreak India 2021 INCOME TAX PARTICULARS DUE DATE EXTENDED TO Filing of Belated or Original Income Tax Return for FY 2018-19 30th June 2020 Linking of Aadhaar – PAN […]
AADHAR – PAN LINKING As per Section 139AA of the Income Tax Act, every person who has PAN as on July 1, 2017, is required to link his/her PAN with his/her Aadhaar number within the due date notified by the government provided such person is eligible to obtain an Aadhaar number. Also, every person who is […]
Leave Travel Allowance (LTA) First, we need to understand the concept of Leave Travel Allowance Related Rules and Exemption Guide then we can claim for this allowance. What is LTA? LTA stands for leave travel allowance. This allowance is provided by the employer to cover the travel expenses of the employee when he is gone […]
NEW TAX REGIME Finance Bill 2020, gives an opportunity to Individuals, HUF, Business owners, and/or Professionals for concessional rates of taxes for Financial Year 2020-21. However, this concession will be applicable with certain terms and conditions. Let’s first see the Concessional Tax Rates as follows – Annual Income in Financial Year 2020-21 New Income Tax […]
MEANING OF GST AUDIT: Audit under GST involve the scrutiny of records, returns and audit of all the other documents which is maintained by the registered person under GST. It also verifies the exactness of declared turnover, taxes which is paid, if refund is claimed, if there is any Input Tax Credit is availed and […]
