Decoding Section 271AAD – Penalty for false entry / fake invoices [inserted vide Finance Act, 2020 – w.e.f. 01.04.2020] Chapter XXI of the Income Tax Act, 1961 is well-stocked with Penal provisions imposing penalties for breach of statutory provisions. Sec.271AAD is a new addition to this family, which imposes penalty for “false entry in the […]
In these days of COVID-19 outbreak, all over the world everyone is seeing the negative impact of this pandemic i.e. global economic slowdown, job losses, loss of human lives etc. These impacts are measured and witnessed through various surveys and reports by respective authorities and governments.
Dont miss the deadline! Link your Aadhar Card with PAN before 30th June 2020 to avoid penalties and keep your PAN active.
Social media influencers are everywhere. We were approached by a few Instagram influencers and Youtubers about their income tax compliances. We decided to write a post to make it easier to understand the tax liability on your income. This post deals with the income tax liability. We’ll get into the GST liability in a separate […]
CONTINUING PROFESSIONAL EDUCATION (CPE): ICAI wants that after becoming a professional. Continuing their education and update their knowledge according to the changes so, for that ICAI start CPE Continuing Professional Education (CPE) is a requirement for Certified Chartered Accountant one that is designed to help maintain their competency and skill sets as providers of professional […]
Some common mistakes being done by us Today we are discussing some of the common mistakes in our business, which we are occurring knowingly or unknowingly. These small mistakes which are being done by us may lead to late- fees, penalty and any other action by Government department. These mistakes are very simple mistakes which […]
Get an insight into Ind AS 116 Leases and its impact on certain companies. Understand the changes and their effect on the new financial year.
Innovation is something which is not bounded by the limits and does not aim to take a break. Surfacing of innovations like that of self-driven cars, cloud computing, ‘Machine to Machine’, Internet are a few examples which establish the limitless nature of innovations. These technological innovations are advancing human lives to whole new dimensions. Inventions […]
Advancement in the field of healthcare has always been a challenge in all developing countries, especially like India due to its vast geographical, demographical and landscape factor. These advancements have given rise to one such platform known as Telemedicine. Telemedicine is a practice of caring and engages in treatment of patients remotely when the provider […]
A third party who independently provides funds to parties for a dispute in exchange of a fraction of monetary rewards that is recovered from the proceedings is called Litigation Financing. It is also referred as Third Party Funding (TPF). This type of funding adjudges the value of legal claims even before they can be recovered […]
