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...
Article discusses about Proposed Changes vide Fiannce Bill 2020-21 in Tax Rates, Concessional Tax Scheme, Changes in Provisions related to Residential Status, Changes in Tax Provisions related to Provident Fund, New TDS Provisions under Section 194O/194J and other Important Changes in TDS, Due date for filing of Form 3CEB, Important Filing Dates for the Year […]
So far as GST is concerned, the focus of budget is on simplification and curbing tax evasion. A new return regime will happen from April 2020 including SMS based filing of Nil returns, return pre-filing and improved input tax credit. Electronic invoices will check tax evasion while refunds would be easier with so manual interface. The Budget also proposes to impose penalty on fake GST invoices.
In an attempt towards the Direct tax code (DTC), Our Honourable finance Minister has announced dual slab rate. where Individuals has given option to choose the old slab rate or slab rate as defined in recently announced finance act, Now there are different questions in the minds of Assesses, which slab would be beneficial and […]
Budget 2020- FAQs on Proposed TDS under Section 194O on E-commerce Operator (w.e.f. 01/04/2020) 1. Who is responsible to deduct TDS under section 194O? Any person, being E-commerce operator facilitating sale of good or provision of services of an E-commerce Participant through its digital or electronic Facility or platform (by whatever name called). 2. Is […]
It is proposed to provide for tax collection at source (TCS) on remittance under Liberalised Remittance Scheme of Reserve Bank of India exceeding seven lakh rupees.
The Finance Minister Nirmala Sitharaman while presenting the Budget 2020 on Saturday has proposed the following changes are as follows: 1) Here’s a list of the main exemptions that tax payers will have to forgo if they opt for the new regime. (i) Leave travel allowance exemption which is currently available to salaried employees twice […]
WIDENING AND DEEPENING OF TAX BASE BY In order to widen the TCS, the Finance Minister in Para 3.3 made the following in her speech. 3.3 Widening the scope of TCS: It is proposed to provide for tax collection at source (TCS) on remittance under Liberalised Remittance Scheme of Reserve Bank of India exceeding seven […]
Information for Tax Planning to the various types of assesses on the basis of Finance Bill 2020 Through this article, I tries to give information about the Finance Bill 2020 in a simplified manner to be used by every type of assessment in the Assessment year 2021-2022 (F.Y 2020-2021) Following are the important points you […]
Budget 2020-21- Article explains proposed Major Amendments in the Customs Act, 1962, Amendments to Customs Tariff Act, 1975, Amendment in Countervailing Duty Rules and Anti-Dumping Duty Rules, Customs duty exemption for certain imported goods, Changes in Customs duty for creating a level playing field for MSME and promoting MAKE IN INDIA for Electric Vehicles and […]
Direct Tax Proposals: 1. Tax Incentives 1.1 Relief in personal income-tax and simplification of taxation: In order to provide relief and simplify the taxation regime, it is proposed to provide an option to individual and Hindu undivided family to be taxed at following lower rates if they do not avail specified exemption/deductions: Total Income (Rs) […]
