Income Tax : Stay updated with key changes and precautions in filing your Income Tax Return for FY 2023-24 to avoid penalties and ensure accura...
Income Tax : Explore exemptions under capital gain with sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA. Eligibility, assets, limits, and lock-...
Income Tax : Explore reality of startup deductions & Tax Illusion they create in Indian economy with Startup India Initiative. Discover dedicat...
Income Tax : Explore capital gains tax exemptions under Income-tax Act sections 54, 54B, 54D, 54EC, 54EE, 54F, 54G, 54GA, and 54GB. Learn rules...
Income Tax : GOI grants various tax exemptions and benefits which an eligible start-up can avail of. Let’s understand first meaning of an eli...
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...
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...
Income Tax : Vide Income Tax Notification No. 35/2020 dated 24.06.2020 govt extends Due date for ITR for FY 2018-19 upto 31.07.2020, Last...
The COVID 19 pandemic persists to be a health and human crisis, but the impact on business organisations is sagacious. Amidst this crisis, the major focus of Government is on promotion of start-ups as they are much more flexible, easier to run and demand much lesser compliances which is a boon during COVID 19. Also, the start-ups can turn out to be a major task force for e.g. in delivering essential items, tracking movement, logistics etc.
The provisions of section 54GB of the Income Tax Act exempts the capital gain arising from transfer of a long term capital assets being a ‘residential property’, if the amount is invested in subscription of the equity shares of the eligible company. The present article highlights the said exemption provisions of section 54GB.
4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemption on Investments above Fair Market Value, Introduction of Section 54EE in the Income Tax Act, 1961 and Amendment in Section 54GB of the Income-tax Act.
The Start-ups were having high expectations from the first budget of Modi Govt. 2.0 and the Finance Minister, Smt. Nirmala Sitharaman hasn’t let down their expectations. She proposed to start a television programme within the DD bouquet of channels exclusively for start-ups. Further, tax proposals made by Finance Minister were aimed to encourage start-ups by […]
