Income Tax : There have been Buzz words and viral posts before the budget that income tax will be replaced by the expenditure tax, a new concep...
Income Tax : Expectation from budget – This would be the Fourth budget presented by Ms. Nirmala Sitharaman and second budget since covid has ...
Income Tax : Whenever a Budget is introduced in the Parliament, the middle income group primarily eye Section 80C of the Income Tax Act as it i...
Income Tax : We all know that Central Budget -2022 will announce on 1st February, 2022 by or Finance Minister Smt. Nirmala Sitaraman. During th...
Income Tax : The salaried persons perhaps have no say in the Budget. Businesses and the self employed manage their taxable incomes but the sala...
Goods and Services Tax : BJP Professional Cell, Mumbai has made a representation to Honorable Union Finance Minister and suggested 34 changes related to GS...
Income Tax : Rates of income-tax in respect of income liable to tax for the assessment year 2021-22 i.e. Financial Year 2020-21 In respect of i...
Income Tax : Union Budget proposed to remove the Dividend Distribution Tax. Currently, companies are required to pay DDT on the dividend paid t...
Income Tax : Tax Bar Association made a Pre Budget Memorandum to Finance Minister and requested for increase in Income Tax Slab Rate, Increase ...
Income Tax : Punjab Accountants Association hs requested Honourable Union Finance Minister, Ms. Nirmala Sitharaman to revise Income-tax Slab fo...
Income Tax : t under the proposed section 194K, a Mutual Fund shall be required to deduct TDS @ 10% only on dividend payment and no tax shall b...
Income Tax : As you are aware the Hon'ble Finance Minister in her Budget Speech on lst February 2020 announced a new Scheme namely Vivad se V...
Income Tax : It is clarified that in case of an Indian citizen who becomes deemed resident of India under this proposed provision, income earne...
There have been Buzz words and viral posts before the budget that income tax will be replaced by the expenditure tax, a new conception of direct tax in line with the prevailing social security taxes in the gulf nations notably in Saudi Arabia and UAE, where income tax in conventional mode not in vogue particularly […]
Expectation from budget – This would be the Fourth budget presented by Ms. Nirmala Sitharaman and second budget since covid has emrged. This Budget would be special as this would be seen as a Pre-poll budget of significant states like UP and Punjab along with Goa Manipur and Uttarakhand. Where central government may try to […]
BJP Professional Cell, Mumbai has made a representation to Honorable Union Finance Minister and suggested 34 changes related to GST in Union Budget 2022 so that difficulties faced by Common GST Taxpayers can be removed. BJP Professional Cell, Mumbai Date: 21-01-2022 To, Smt. Nirmala Sitharaman Madam, Honorable Union Finance Minister Ministry of Finance, North Block, […]
Whenever a Budget is introduced in the Parliament, the middle income group primarily eye Section 80C of the Income Tax Act as it is the most popular and favourite section affecting the nett tax liability of the taxpayers. The rationale behind this deduction is to induce savings by investing in tax saving investments or incurring […]
We all know that Central Budget -2022 will announce on 1st February, 2022 by or Finance Minister Smt. Nirmala Sitaraman. During the year 2022-23, what should be the expected income and expenditure of the Government, will put before the Parliament for discussion. Till date deficit budget were published, and people expect the same for coming […]
The salaried persons perhaps have no say in the Budget. Businesses and the self employed manage their taxable incomes but the salaried class cannot escape the clutches of the Income Tax Department because the employer is mandated for deducting tax at source.
पिछले दिनों वित्त मंत्री द्वारा बजट पूर्व सुझावों हेतु कई बड़े व्यापारिक, उद्योगिक एवं अर्थशास्त्रियों के साथ मीटिंग और विचार विमर्श किया गया जिसमें कुछ मुख्य सुझाव जो सामने आए: 1. आम टैक्सपेयर्स के लिये इनकम टैक्स स्लैब को तर्कसंगत करने का सुझाव दिया गया. 2. रिसर्च एंड डेवलपमेंट के लिये ज्यादा बजट का आवंटन […]
Section 206AB and Section 206CCA – Special provision for deduction of tax at source (TDS) and collection of tax at source (TCS) for non-filers of income Tax Return at Higher Rates The new section 206AB and 206CCA are proposed to be inserted in the Income Tax Act, 1961 (“Act”) by the Finance Bill, 2021. The […]
Budget 2021 proposes Extending of due date for filing return of income in some cases, reducing time to file belated return and to revise original return and also to remove difficulty in cases of defective returns Section 139 of the Act contains provisions in respect of the filing of return of income for different persons […]
Union Budget 2021 proposed to relax Section 234C interest on Dividend income along with capital gains if shortfall in the advance tax payments and tax due has been paid in the subsequent advance tax instalments. Advance tax instalment for dividend income, Capital Gain etc. Section 234C of the Act provides for payment of interest by […]
