Income Tax : Income-tax Act contains provisions for taxability of various allowances received by a taxpayer. These allowances are either in the...
Income Tax : Learn about the key exemptions available for capital gains under different sections like 54, 54B, 54D, 54EC, and more. Understand ...
Income Tax : Learn what constitutes capital gains, how they are taxed, the types of capital assets, and distinctions between short-term and lon...
Income Tax : Discover the various capital gains tax exemptions under Sections 54, 54B, 54D, and 54EC, including eligibility, investment limits,...
Income Tax : Explore exemptions under capital gain with sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA. Eligibility, assets, limits, and lock-...
Income Tax : Representation against Extension of time limit under section 54 to 54GB without extension of Income Tax Return due date Vidarbha I...
CA, CS, CMA, Income Tax : We have not noticed any heed being extended towards various issues and possible solutions we have proposed through those represent...
Income Tax : KSCAA has requested to Hon’ble Minister of Finance to extend various time limits under section 54 to 54GB of the Income-tax Act,...
Income Tax : 4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemp...
Corporate Law : Relaxations for companies, including start-ups have been provided through changes in various rules notified under Companies Act, 2...
Income Tax : For claiming exemption Section 54 to 54 GB of the Act, for which last date falls between 01st April. 2021 to 28th February, 2022 m...
With a view to providing an impetus to start-ups and facilitate their growth in the initial phase of their business, it is proposed to provide a deduction of one hundred percent of the profits and gains derived by an eligible start-up from a business involving innovation development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.
Finance Minister, in his budget speech, has proposed many incentives to encourage entrepreneurship in India. Some of the tax measures which will be beneficial for new start-ups are as follows- Optional lower tax rate of 25% for newly setup manufacturing companies. Hundred percent deduction of profits for three years (Proposed new Section 80-IAC of the Income-tax Act, 1961):
The provisions of Finance Bill, 2016 relating to direct taxes seeks to amend the Income-tax Act, 1961 (‘the Act’) , the Finance (No.2) Act, 2004, Finance Act, 2013 and Finance Act 2015, in order to provide for – Rates of Income-tax, Additional Resource Mobilisation, Widening of Tax Base and Anti-Abuse Measures, Measures to Phase Out Deductions, Measures to Promote Socio-economic Growth
