Impact of COVID 19 on GST Indian government chose complete lockdown as an important measure to protect human life’s from the rapid spread of COVID 19 outbreak. Besides human life which is the most important, nationwide complete lockdown has had a worst impact on the economic activities resulted into huge revenue loss to the Government […]
Recently a single member High Court Bench has provided for conditional bail of the accused on the condition that they may approach the GST authorities for Compounding of their Offenses as provided under the act. Compounding of Offenses as provided by Section 138 of the GST law would allow the accused to avoid criminal prosecution […]
YouTube video blogging, popularly known as vlogging has reached at the peak of its popularity by now. The trend of googling for a content has shifted to you tube search. Many budding vloggers are making money from YouTube. However most of them are not aware of the tax implications. Let’s try to explore this in […]
Article explains Section 92 of the Income Tax Act, 1961 related to Computation of income from international transaction having regard to arm’s length price, Meaning of Associated Enterprise under section 92A, Meaning of international transaction under Section 92B, Audit under the Transfer Pricing under Section 92E and Report from an accountant to be furnished by […]
Section 269SU has been introduced by the government under Income Tax Act with an intention to promote cashless economy and digital mode of accepting payment. Section 269SU prescribes for accepting payment through certain electronic modes as prescribed in addition to other electronic modes. This article is a detailed discussion on Section 269SU alongwith various practical […]
Start up is the policy measure of the government of India, Ministry of Commerce and Industry to give stimulus and boost to the Innovative Talents to set up the business. These start up needs to get registered with Department of Industrial Policy and Promotion (DIPP) which will grant them a certificate, if all the conditions […]
Article explains Provisions of Slump Sale under the Companies Act, 2013 and Income Tax Act, 1961. It explains Slump Sale through Business Transfer Agreement (BTA), Slump Sale through Scheme of Arrangement, Stamp Duty Chargeable On Business Transfer Agreement. Article explains Sections which deal with Slump sale, Definition of Slump sale, Capital Gain on Slump sale, […]
Budget 2020 has proposed to make dividend income from shares and mutual funds taxable in the hands of the recipient at the applicable income tax slab rates to the individual and abolish the Dividend Distribution Tax levied on dividend income from distribution by the company or mutual funds house. India currently levies Dividend Distribution Tax […]
The Finance Bill 2020 has been passed by the Parliament with some major relaxations on March 23, 2020. At the stage of passing of the Bill, there have been amendments made which would directly impact the Non Resident Individual community w.e.f 01st April, 2020. The Article here explains the concept of Residential status, deemed Resident, […]
अर्जुन: हे माधव, प्रणाम! मेरी एक समस्या का निवारण कीजिए। कृष्ण: कहिए अर्जुन! बताइए क्या समस्या हैं? अर्जुन: माधव, मुझे यह बताए कि GST कानून के तहत एक टैक्सपेयर कितने रुपए का नकद में लेन-देन कर सकता हैं? कृष्ण: वत्स! GST कानून में नकद लेन-देन को लेकर कोई भी प्रावधान नहीं हैं परन्तु इनकम टैक्स […]
