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...
A simplified GST return shall be implemented from the 1st April, 2020. It will make return filing simple with features like SMS based filing for nil return, return pre-filling, improved input tax credit flow and overall simplification. Dynamic QR-code is proposed for consumer invoices. GST parameters will be captured when payment for purchases is made through the QR-code.
Hello Everyone, on 1st February, 2020 our Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman has brought out long but deep thoughtful budget with lot of actionable commitments. On the plate of Direct Tax Proposals there are around 50 amendments brought in by the Finance Bill, 2020. Changes in Personal Income Tax Slabs being most […]
Detailed Analysis on Incentive to Individuals and HUF by insertion of New Section 115BAC under Finance Bill 2020 Dear all, all we new that new finance bill has been brought up by finance minister in last week of January 2020 in which they have inserted a new section 115BAC of Income tax act to called […]
The Finance Minister has proposed several changes in respect of taxation of Individual through Finance Bill 2020. Changes are discussed below: New Slab rates for Individuals on cost of removal of exemptions/deduction (Optional Tax Regime Sec 115BAC) The Finance Minister Nirmala Sitharaman has proposed a new optional tax regime in the budget 2020 for the […]
The Union Minister for Finance made her maiden Budget Speech and presented the Union Budget 2020-21 before the Parliament. The Seventeen Practical Important highlights of Budget 2020 are as follows: 1. Incentives to resident co-operative societies. It is proposed to insert a new section (115BAD) in the Act to provide that a co-operative society resident […]
Arjuna: Krishna, the Union Budget for 2020-21 was announced on 1st of February 2020. Various new googly provisions were proposed in the same, kindly please explain which were those? Krishna: Arjuna, In the Union Budget 2020-21, there are certain provisions proposed, those may take the taxpayer’s wicket. While playing a 20-20 cricket match, the players […]
BUDGET 2020 A snapshot of budget announcements for MSMEs, Exports, Start-ups & Innovation ⇒ MSME 1. SUBORDINATE DEBT: Working capital credit remains a major issue for the MSMEs. Hence this scheme to provide subordinate debt for MSMEs, to be provided by banks to be treated as quasi-equity and would be fully guaranteed through CGTMSE. 2. […]
TDS: A-3 DEE System | Deduct, Deposit and Declare The book ‘TDS: A 3-DEE SYSTEM’ is a mobile guide for the taxpayers. All the sections are incorporated in the form of Frequently Asked Question (FAQ). It is an attempt to keep the taxpayers updated as well as informed and provides all the information related to […]
Income Tax reduced tax rate option on individual or HUF who has business income once opted, have to apply to all subsequent years. It means it cannot go back and choose old rate with all deductions etc. (Applicable from FY 2020‐21) In Sep 2019, government announced reduced corporate tax rate to 15% or 22% and […]
This article is aimed at summarizing the various changes in Income tax act which would effect an individual tax payer. New Tax scheme- An option was provided to Individuals and HUF to opt for lower tax rate by foregoing certain exemptions / deductions.
