Understand the proposed changes to Section 43B of the Income Tax Act regarding payments to MSMEs. Learn how due dates, payment timing, and more will impact your taxes. Ministry of Micro, Small & Medium Enterprises.
The Union budget 2023 presented in the Parliament today on 1st February 2023, the Finance Minister proposed five major announcements for tax payers: 1. Nil tax, upto income Rs. 7 Lakhs (After Rebate U/S 87A) 2. Six Income slabs and new tax rates 3. Standard Deduction Rs. 52,500/- for salaried person with an income of […]
Newly section insert by finance Act 2023, 1) Insertion of new section 50AA: Special provision for computation of capital gains in case of Market Linked Debenture., 2) Insertion of new section 194BA: TDS on Winnings from online games , 3) Insertion of new section 80CCH: Deduction in respect of contribution to Agnipath Scheme As per […]
Budget 2023 highlights: All eyes are glued to the Budget announcements being made by Finance Minister Nirmala Sitharaman in the Parliament. Govt is planning to spend Rs 2200 crore for high-value horticulture and an increase in agri credit target to Rs 20 lakh crore are some of the key announcements so far. Finance minister Nirmala […]
Personal Income Tax (For Individual, HUF, AOP (other than co-operative) BOI and AJP Currently Tax will be nil up to Income ₹ 5 lakh in both regime (old and new), in proposed scheme this limit increase up to ₹ 7 lakh in the new tax regime. It means that in old regime limit of ₹ […]
Companies register offshore for a variety of reasons, including tax benefits and financial privacy. Whether you need a company abroad depends on your specific business needs and goals.
Introduction The Indian Union Budget 2023, which is the annual financial statement of the Government of India, was presented by Finance Minister Nirmala Sitharaman on 1 February 2023. This year’s budget has witnessed a significant shift in focus, as the Union Government has made substantial investments to stimulate the economy, improve access to education and […]
Learn about the recent amendments made in the CGST & IGST Act 2017 by the Finance Bill 2023. Stay updated with the changes in tax legislation.
The establishment of a branch office/ liaison office or any other place of business in India by foreign entities is regulated in terms of Section 6(6) of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 22(R)/2016-RB dated March 31, 2016. These Regulations are amended from time to time to incorporate the changes […]
Section 124 of the Indian Contract Act of 1872 makes life insurance a contract of indemnity. An indemnity holder is permitted to collect all losses that he may have been forced to pay in any suit relating to any subject specified in the agreement.
