Revenue has to give due regard to the orders of the higher appellate authorities which are binding on them Utmost regard should be paid by the adjudicating authorities and the appellate authorities to the requirements of judicial discipline and the need for giving effect to the orders of the higher appellate authorities which are binding […]
The Budget 2020 introduces a new regime under section 115BAC giving an option to individuals and HUFs to pay income tax at lower rates. From FY 2020-21, the assessee can choose to pay income tax under an optional new tax regime. The new tax regime is available for individuals and HUFs with lower tax rates […]
Author: Anadi Varma 1. Introduction This amendment/insertion is sure to set the cat among the pigeons! I attempt some new insights . IN order to really understand a tax amendment,I firmly believe that the associated memorandum must be looked into.I proceed to recap relevant parts thereof. 2. Memorandum: Memorandum to the Finance Bill 2021, explaining […]
1. Insertion of New Section 206AB New section 206AB has been inserted by THE FINANCE ACT, 2021 NO. 13 OF 2021 Dated 28th march, 2021. The section is inserted w.e.f. 1st July, 2021. Section 206AB “Special provision for deduction of tax at source for non-filers of income-tax return” Section is Applicable 1. If person require […]
Whenever a director acts intentionally to harm the interest of company and acts dishonestly, he will be held liable under breach of fiduciary duty. Whenever a director does not act within the prescribed limits of the memorandum or articles of association of the companies, company is not liable for such acts and director concerned is liable for all such actions.
How to Renew/ Re- register Digital Signature Certificate (DSC) on Trademark e-filing portal Registration of Digital Signature Certificate (DSC) is pre-requisite for any Trademark Agent / Attorney, in order to be able to file various forms, replies, etc on online ‘filing portal of Trademark.’ In case the originally registered DSC expired, new DSC is required […]
Overview In Finance Act 2021, various amendments have been enacted in TDS provisions. The most significant amendment is made by inserting a new Section which mandate to deduct TDS on purchase of goods. It will be a huge compliance for deductor to comply with above section. TDS on purchase of goods will be burden some […]
Export of Services- An Insight- Service Exports from India Scheme (SEIS)- Export Incentive to Service Industry Executive Summary ♦ SEIS scheme was introduced on 1st April 2015 under the Foreign Trade Policy of India 2015-2020. ♦ The purpose for the SEIS scheme is to make export of Indian services more competitive in international markets. Therefore, […]
The Department of Town and Country Planning (DTCP) has launched An online draw system to make the allotment of flats more efficient and to eliminate the chances of any manipulation under the affordable housing scheme of Haryana. Now, Applicants have to apply online for affordable home through DTCP website. The draw will be done online […]
Practical approach to new TDS section 194Q introduced in budget 2021 which will be effective from 01.07.2021 and its effect in application of existing section(amended) TCS u/s 206C (1H) of Income Tax which is required to be collected on sales of goods above 50 lakh. With the introduction of new section 194Q in the Budget […]
