Before implementation of seventh Pay Commission, the ceiling under CC S (Pension) Rules, 1972 was Rs. 10 lakh which was raised to Rs. 20 lakhs by seventh Pay Commission.
Job Work Rates Summarised – After October 2019 Notification Changed Rates of Job Work JOB WORK RATE 5% – A. Services by way of JOB WORK OF GOODS BELONGING TO ANOTHER REGISTERED PERSON in relation to- (a) Printing of newspapers; (b) Textiles and textile products falling under Chapter 50 to 63 (c) all products falling […]
Equalization levy and widening of tax base through the introduction of concept of Significant Economic Presence are the two measures which have been adopted by India for taxation of digital economy.
For some people, the tax-planning season has just started. You know that house rent allowance (HRA) and the deduction related to home loan repayment can lower your tax liability. You will be pleased to know, in certain cases, you can avail tax benefits from both of these.
The author states that the present world order is dominated by a conflict between two ideologies and their proponents: globalisation and local sovereignty. Globalists advocate borderless commerce, homogeneous world culture, and a rules-based world order (political globalisation).
Here we are going to understand the CGST Circular No. 129/48/2019-GST Dated 24-12-2019 and what are its consequences if not complied by the registered person. Instructions :- Here in these article author has tried to make it simpler for understanding purpose and wherever possible try to avoid the language of circular. But for some of […]
Article explains What is Inward Remittances, Procedure of Inward Remittance, Other things to be kept in Mind related to Inward Remittances and Bank Charges for Inward Remittance. What is Inward Remittances Inward Remittance is used for remittance from Overseas Bank to Domestic Bank. Inward Remittance can be against Export of Goods/ Services, Investment purpose, Donations, […]
The Hon’ble HC, Jharkhand in the matter of Godavari Commodities Ltd. v. The Union of India [W.P.(T) No.1786 of 2019 decided on December 3, 2019] has held that the intimation letter for payment of interest is to be treated as a show cause notice and directed adjudicating authority to give the Petitioner an opportunity of […]
Income tax slab rates are decided and governed by Income Tax Act 1961 and are subject to change every year. Here are the income tax slab rates for the Financial Year 2019-20 (relevant to Assessment Year 2020-21) for Resident Individual (Below 60 Years Old), HUF and AOP/BOI/Artificial juridical person, Senior Citizens (60 Years Or More […]
Standard Operating Procedure (SOP) issued in case of non filling of GST returns Vide Circular No. 129/48/2019 – GST on 24th December 2019, CBIC has issued Standard operating procedure to be followed in case of non-furnishing of GST return is being issued. In the 38th GST council meet, one of the recommendation was to set […]
