"Nishant Singla is Fellow Member of Institute of Chartered Accountants of India (ICAI) M. No. 536056 . He has completed his Chartered Accountant Course in the Year 2014; he has also completed Certificate Course of Valuation of Shares conducted by ICAI in the year 2015"
Understanding the allowability of foreign tax credit under Income Tax Act 1961. Learn how to take credit for taxes paid outside India as a resident Indian.
The Finance Act 2021, has widened the family base of the TDS Chapter by introducing a new member namely Section 194Q w.e.f. 1st July 2021. Likewise, Last year govt. introduced TCS on the Sale of Goods u/s 206C(1H). Earlier the applicability of TDS or TCS provisions were restricted to some specific items of Income or […]
Transfer of Equity Shares of Unlisted Company- Capital Gains Perspective Applicability of Section 50CA: In case of sale of Unlisted Equity Shares, first thing we have to check that whether the sale consideration is less than the Fair Market value (FMV) or not. If shares are transferred at a price which is less than FMV, […]
Disclaimer: Before start reading, we would like to clear the fact that this write up is only meant for salaried class employees and not meant for individuals having business Income. As there are some differences in the scheme for the salaried and non-salaried class of persons. Little Background The date of submission of investment proof […]
Special Financial Transactions (SFT) Reporting Parameters. Income Tax Department is widening its scope of disclosers and reporting day by day, there are some type of transactions on which Income Tax Department is very aggressive these days, and if any person entered in such transaction without any valid source then he can be caught in great […]
Introduction Finance Act 2020 introduced a new provision under Section 206C (1H) for the Tax Collected at Source (TCS) on Goods With effect from 1st of October 2020. As per the new provision if any seller of any goods whose turnover in the preceding FY exceeds Rs. 10 Crore then, from 1st of October 2020, […]
Ministry of MSME has revised the MSME registration process w.e.f 01st July 2020. It is now known as ‘UDYAM REGISTRATION’. The Term Udyam is equivalent to Enterprises in English. Hence all the Micro, Small or Medium Enterprises has to obtain UDAYM Registration to avail the benefits of various schemes run by the govt. for the […]
If you have invested in the Shares and earning the dividend Income from the domestic companies then this article will going to be really informative to you as there is some changes made by the Budget 2020 in respect of Taxing the Dividend Income received from Domestic Companies. In this article, we only discussed the […]
Brief About Form 26AS Any person whoever files Income Tax Return must have encountered with Form 26AS. It is a Tax Credit Statement showing the amount of Tax deducted at source (TDS), Tax Collected at Source (TCS) during the year as well Tax Deducted from the Sale of Immovable Property. At time of Filing Income […]
Reduced Corporate Tax Rate- Introduction of New Section 115BAA & 115BAB inserted by Taxation Laws (Amendment) Act, 2019 In order to attract fresh investment in manufacturing sector and thereby provide boost to ‘Make-in-India’ initiative, government of India on 20th September 2019, introduce Taxation Laws (Amendment) Ordinance 2019 wherein government reduced the corporate tax rates to […]
