Rates of income-tax in respect of income liable to tax for the Assessment year 2020-21 / Financial Year 2019-20 In respect of income of all categories of assessees liable to tax for the assessment year 2020-21, the rates of income-tax have either been specified in specific sections (like section 115BAA or section 115BAB for domestic […]
Lots of loopholes, cracks and ambiguities have come to the fore in IBC’s 3-year journey but prompt action by the IBBI has helped to keep it relevant as the most effective law for insolvent entities. – Kritika Chabbra (Market Analyst, MUDS Management Pvt. Ltd.) Constant Change & Improvement Any law is effective only when it […]
HIGHLIGHTS OF SEBI’S CONSULTATION PAPERS ON RIA REGULATION IA Regulations were notified on January 21, 2013. The object of the IA Regulations, was to lay the framework for independent financial advisers. SEBI had issued a consultation paper on October 07, 2016 seeking public comments on the clarifications/amendments to IA Regulations. A revised consultation paper was […]
Synopsis of Amendment proposed by Finance Bill 2020 (BILL No. 26 OF 2020) related to GST The Finance Act, 2020 (BILL No. 26 OF 2020) was introduced in Lok Sabha by the Minister of Finance, Miss. Nirmala Sitharaman on February 1, 2020. It proposed to amend The Central Goods and Services Tax 2017. As per section […]
Article gives Exhaustive summary of changes in Income Tax Provisions proposed by Union Budget 2020-21 or Finance Bill 2020. Proposals for amendments are organised under the following heads:— (A) Rates of income-tax; (B) Tax incentives; (C) Removing difficulties faced by taxpayers; (D) Measures to provide tax certainty; (E) Widening and deepening of tax base; (F) […]
Presenting the first Union Budget of the third decade of 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long-term measures.
Clausewise Changes proposed by Finance Bill 2020/ Union Budget 2020-21 Income-tax Clause 2 read with First Schedule to the Bill, seeks to specify the rates at which income-tax is to be levied on income chargeable to tax for the assessment year 2020-2021. Further, it lays down the rates at which tax is to be deducted […]
Presenting the first Union Budget of the third decade of the 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long term measures.
Understand the penalty for failure to furnish a section 92E report under section 271BA of the Income Tax Act.
As part of Government of India’s Ease of Doing Business (EODB) initiatives, the Ministry of Corporate Affairs would be shortly notifying & deploying a new Web Form christened ‘SPICe +’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form. SPICe+ would offer 10 services by 3 Central Govt Ministries & Departments. (Ministry of Corporate Affairs, Ministry […]
