Ethanol (primarily a by product from sugarcane and residue of rice and wheat) is mixed with Petrol in the range of 5% to 10% as of now and on world environment day (05.06.2021) PM announced to increase the same to 20% by 2025 for petrol and to mix the same upto 10% in case of […]
This section 194R requires deduction of tax at source @ 10%, by any person, providing any benefit or perquisite, exceeding Rs. 20,000 in value, in a year, to a resident, and such benefit or perquisite arise from the business or profession of such resident.
CITATIONS & ABBREVIATIONS IN DRAFTING This tip clarifies strives to give clarity on: A) How to read or quote citations; B) How to use abbreviations in the text of a legal document. 1. Citations: A legal citation is the practice of referring to the authoritative documents & sources. It is used for citing a reference […]
GST impact on transaction through E commerce Operator Aatma Nirbhar Bharat is the vision of the Prime Minister of making India a self-reliant nation which has given boost to many of start-ups and thereby transaction through E commerce operator has also increase. We will understand in this article impact of GST on transaction through e-commerce […]
Introduction Charitable organisations or non- profit organisations (NPOs) play an important role in society as the intent of these organisations is not to work with any profit motive. Income of these organisations is fully exempt from taxation subject to the fulfilment of certain conditions. One of such conditions is that such organisations are required to […]
Modi government should learn strong lesson from the present dismal state of China where identical situation prevails like india of the most sorry state of common people facing high dose of inflation and growing joblessness because of fast pacing shutting down of many big and medium industries because of imposition of stringent embergo on Chinese […]
The Economic Survey for the fiscal 2021-22 was presented in Parliament on 31st January, 2022, the first day of ongoing Budget session. The growth has been hit by pandemic. It focuses on need to have capital expenditure by Government and hopes for private spending as well. The fiscal space also allow for more capex. The […]
बजट के बाद वित्त मंत्री ने कहा कि टैक्स दरों में कोई बदलाव नहीं करना ही सरकार की तरफ से राहत है. राजस्व सचिव ने एक कदम आगे जाकर आंकड़ा दिया कि औसत टैक्स वेतनभोगी द्वारा रु 90000/- दिया जाता है जबकि व्यापारी और पैशेवर द्वारा औसत टैक्स 40000/- रुपये दिया जाता है, जो कि […]
TDS Rate Chart for FY 2022-2023 (AY 2023-2024) including Budget 2022 Amendments Tax Deduction at Source (TDS) is one of the important compliances for Income Tax Assessee. There are various sections in Income Tax Law, which specify different TDS rates, nature of payment & its threshold limits for TDS. Every year when the Budget is […]
The Finance Minister has introduced the Union Budget 2022 (‘Budget’) in the Parliament aiming to boost economic growth and revive sustainably from the ravages of the COVID-19 pandemic. The aim seems to start a virtuous cycle of growth by increasing public expenditure, in the hope of attracting private investment. But in order to facilitate the […]
