Summary -The Union Budget 2019 has introduced Section 194N for tax deduction at source (TDS) on cash withdrawals exceeding Rs 1 crore. -The Budget 2020 has reduced the threshold limit for TDS to Rs 20 lakh for taxpayers who have not filed their income tax returns for past three years. -Why is Section 194N- To […]
Any notices served by the Income Tax department u/s 143(2) (Scrutiny) or u/s 144 (Best Judgement Assessment) or u/s 147 (Income Escaping Assessment) or in combination, the hearing and settlement was conducted on an offline mode. The Assessee to whom such a notice was served, was asked to present himself in person or by a […]
Taxation of House Property in India is governed by Income Tax Act,1961. Owning a house one day, everybody dreams of this, saves towards this and hopes to achieve this. However, owning a house property is not without responsibilities. Paying house property taxes annually is one of them.
As you are aware that, before implementation of IBC, 2016 there are various laws governing individual as well as corporate insolvency and bankruptcy matters in India. There were a lengthy and cumbersome method for creditors /financiers for recovery of their dues from the defaulting corporate debtors. For individuals insolvency and bankruptcy matters there were three […]
Section 4 of the Maharashtra Apartment Ownership Act, 1970 states that an apartment owner may transfer his apartment together with the percentage of undivided interest in the common areas and facilities appurtenant to such apartment by way of sale, mortgage, lease, gift, exchange or in any other manner whatsoever or by way of bequest (Will).
They can be Non-Government organizations or Non-Profit Organizations. Both NPO and NGOs function to benefit society and the welfare of humans or improve the world. A Non-Profit Organization is formed to provide goods and services to the people and also operates on the principle that no member will share the profits or the losses. A […]
OTHER CONDITIONS ON FDI DEFENCE 1. FDI up to 74% under automatic route shall be permitted for companies seeking new industrial licenses. 2. Infusion of fresh foreign investment up to 49%, in a company not seeking an industrial license or which already has Government approval for FDI in Defence, shall require mandatory submission of a […]
eXtensible Business Reporting Language (XBRL) is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information. Use of XBRL has resulted in cost savings and greater efficiency to all those involved in supplying […]
The future of sustainability? Women! राष्ट्रस्य श्व: नारी अस्ति Woman is our tomorrow WOMEN AND SUSTAINABILITY: THE CO-RELATION Sustainability means meeting our own needs without compromising the ability of future generations to meet their own needs. It is maintaining the balance between the environment, equity, and economy Sustainability presumes that resources are finite, and should be used […]
Nidhi Company Nidhi Companies are incorporated with motive of encouraging the habit of savings amongst its members. Nidhi Companies are allowed to deal with members only which means that Nidhi Companies can take Deposits from and lend only to its members. It is much easier to form a Nidhi Company with very less time and […]
