Article summarises Provisions of Direct Tax Vivad Se Vishwas Act, 2020 and contains/Explains Introduction to Direct Tax Vivad Se Vishwas Scheme, Who Are Eligible To Avail Direct Tax Vivad Se Vishwas Scheme, Quantification Of The Disputed Tax, Computation Of The Amount Payable Under Direct Tax Vivad Se Vishwas Scheme, Procedure For Filing Declaration Under Direct […]
Finance Act 2020 – TDS under section 194J FA 2020 has introduced lower rate of deduction @ 2% instead of 10%, under section 194J, if the service is in the nature of: 1. Technical service; or 2. Royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films For the part of […]
If you want to file your ITR defect-free then you need to avoid following Common mistakes which many users do. 1. Selection of the wrong ITR: While filing ITR, if you select ITR form which is not appropriate in your case, you may miss reporting entire/partial information to the Income-tax department. In such a case […]
Covid-19 Impact On Taxation, Relaxations By Government And Some Measures Which Need To Be Taken! The outbreak of COVID-19 across the globe has been unprecedented, with major economies announcing regulatory relaxations amidst lockdowns. Following the suit, Finance Minister (FM), Ms. Nirmala Sitharaman announced certain relief measures on 24 March 2020 relating to Taxation, Corporate Affairs, […]
In India, the status of tax residency of an individual is determined based on his number of days of stay in India during a financial year. Every year, various Non-Resident Individuals (‘NRI’) visit India to manage their family affairs/investment in India. Such individuals plan their stay in India in a manner that they remain non-resident in India for tax purposes.
Payment of advance tax is governed by sec. 207,208,209,210 and 211 of the Income Tax Act 1961. f the Income Tax Liability of any assessee is more than Rs. 10,000 in a financial year, then he is liable to pay such tax in installments during the year itself rather than paying this tax at the end of the year.
1. What is the test that determines land is agricultural land? The Gujrat HC in CIT v Siddhartha J. Desai 139 ITR 628 (Guj)(1983) has laid down the following tests for determining whether the land is agricultural or not: a) Whether, the land was classified in the revenue records as agricultural and whether it was subjected […]
A person of Indian origin (PIO) is a person of Indian origin or ancestry who was or whose ancestors were born in India or nations with Indian ancestry but is not a citizen of India and is the citizen of another country. A PIO might have been a citizen of India and subsequently taken the citizenship of another country.
Of late this month we must have received lot of demands from CPC seeking demand for non remittance of 234E FEES (not Tax). 234E will not apply to cases where TDS payment is made beyond the time limit prescribed for payment of TDS u/s 200(3)
The protection against sexual harassment and right to work with dignity are universally recognised human rights by international convention i.e Convention on Elimination of all forms of Discrimination against Women (CEDAW).
