Income Tax : Navigate the changes in dividend taxation post-Finance Act 2020. Delve into the tax obligations for domestic companies, withholdin...
Income Tax : New form for application for registration of Charitable or Religious Trusts or Institutions In the Union Budget of 2020, Governmen...
Income Tax : Re-validation of existing Tax Exemption Certificate under new Section 12AB of Income Tax Act, 1961 w.e.f. April 1, 2021 The Centra...
Income Tax : Fresh application for existing Charitable / Religious Trusts, Institutions etc. under new Section 12AB of Income Tax Act, 1961 w.e...
Income Tax : DIRECT TAXES : VIVAD SE VISHWAS File Declaration Upto 31st Jan., 2021 Without Tax ! Vivad se Vishwas scheme was introduced with an...
Income Tax : Following is the list of Amendments which were proposed in Finance Bill 2020 after its Introduction in Lok Sabha on 01st February ...
Income Tax : The Budget Session, 2020 of Parliament which commenced on Friday, 31st January, 2020 has been adjourned sine die today i.e. Monday...
Income Tax : Pursuant to the enactment of the Direct Tax Vivad se Vishwas Act, 2020 (VSVS) on 17.3.2020, the Direct Tax Vivad se Vishwas Rules,...
Income Tax : The Direct Tax Vivad se Vishwas Act, 2020 - Request for three months extension without any extra charge of disputed tax, Interest ...
Income Tax : The 'Vivad se Vishwas' Scheme aims at dispute resolution in order to reduce pending litigation, generate revenue for the Governmen...
Goods and Services Tax : CBIC lowered interest rate for tax periods from February, 2020 to July, 2020 for delayed filing of GSTR 3B vide Notification No. 0...
Goods and Services Tax : CBIC notifies 30th day of June, 2020 as date of applicability of section 134 of Finance Act, 2020 vide which In section 25 of the ...
Income Tax : It has now been clarified that where only notice for initiation of prosecution has been issued without prosecution being institute...
Income Tax : CORRIGENDA- THE FINANCE ACT, 2020- NO. 12 OF 2020- In the Finance Act, 2020 (12 of 2020) as published in the Gazatte of India, Ext...
Income Tax : An employee, having income other than the income under head profit and gains of business or profession and intending to opt for th...
Pursuant to the enactment of the Direct Tax Vivad se Vishwas Act, 2020 (VSVS) on 17.3.2020, the Direct Tax Vivad se Vishwas Rules, 2020 along with Forms-1 to 5 have been notified on 18.3.2020 vide notification No.18 of 2020. The Forms are required to be filed by the declarant electronically only. No paper form shall […]
In this Article, the Authors briefly deliberated on the issues arising out of FAQs answered by the Board and also fresh questions that need to be answered soon for the tax payers and the administrators to be clear in their approach. The Act is referred to as VsV Act or the Act and the Designated […]
Tax Collected at Source (TCS ) is the tax payable by the seller which he collects from the buyer at the time of sale , say, while purchasing a motor vehicle exceeding Rs 10 Lakhs . Budget 2020 has proposed to widen the scope by including TCS on Sale of Goods w.e.f. 01/04/2020—Sec 206(1H) . […]
Latest Analysis The Vivad se Vishwas scheme was presented in the Budget 2020 on 1st February 2020. Due to administrative and procedural delays, the President gave assent to the Scheme on 17th March 2020. The Scheme is applicable to all income tax cases in dispute as on 31st January 2020. The pending appeal may be […]
कोई भी व्यक्ति जो विक्रेता है यदि किसी अन्य व्यक्ति (क्रेता) से प्रतिफल के रूप में कोई राशी प्राप्त करता है और यदि किसी भी वित्तीय वर्ष में राशी 50 लाख रुपये से अधिक होती है तो उक्त विक्रेता को राशी प्राप्त करते समय विक्रय प्रतिफल का 0.1% क्रेता से TCS के रूप में संग्रह करना होगाI
The Direct Tax Vivad se Vishwas Act, 2020 – Request for three months extension without any extra charge of disputed tax, Interest or Penalty.
As highlighted in Budget 2020, it proposes to allow deduction of interest expenses to the extent of 20% of dividend income. Author in this article is focusing on significant aspect which is whether 20% deduction is on net taxable dividend (after deduction u/s 80M) or on gross dividend income. Proposal for sec 57 in Finance […]
Is taxing dividend costlier for foreign dividend ? Recently Budget 2020 has proposed to tax dividend income in the hand of shareholders and have given the benefit u/s 80M to avoid cascading effect. (Cascading effect is when tax is levied on a same income at every step i.e dividend transferred from Co A to Co […]
DGIT(S)-ADG(S)-3/e-Filing Notification/FoR1/VSVS/2020/ Government of India Ministry of Finance Central Board of Direct Tax Directorate of Income Tax (Systems), New Delhi Notification No. 12 of 2020 New Delhi, the 19th March, 2020 Subject- Procedure for making declaration in Form-1 under sub-rule (1) of Rule 3 and furnishing undertaking in Form-2 under sub-rule (2) of Rule 3 under […]
The ‘Vivad se Vishwas’ Scheme aims at dispute resolution in order to reduce pending litigation, generate revenue for the Government and benefit taxpayers. Over the years, the pendency of appeals filed by taxpayers as well as Government has increased due to the fact that the number of appeals that are filed is much higher than the number of appeals that are disposed.
