This article covers the provisions of The Income Tax Act, 1961 and rules made there under in regard to the Carry Forward and Set Off of Losses. The Income Tax Act has prescribed rules to set-off loss arising from one head against other heads of income. The process of setting off of losses and their […]
Goods and Services Tax (GST) is considered as the biggest reforms in India. However, one thing that has become the talking point is – the mechanism of input credit under GST. In simple words, Input credit means that at the time of paying taxes on sales made, you can reduce the tax from the tax paid […]
Gradually, the Indian Economy is getting digitalized and ultimately moving towards a cashless economy. Electronic transactions ensure a clear money trail and make it very difficult for tax evaders. In a bid to curb black money as well as limit the number of cash transactions, the Government from time to time has introduced many new […]
The pandemic of COVID-19 has engulfed the entire world and has posed serious challenges for the health and economic security of millions of people worldwide. In India too, the spread of coronavirus has been alarming and is posing severe health and economic worries for our country. Keeping in mind the need for having a dedicated […]
