Many of us are forced into buying insurance products which we do not really need. We get to hear number of horror stories of misselling by insurance advisors. In order to help readers understand basics of life insurance I have decided to discuss various aspect and variations of life insurance products so that they do […]
KEY CHANGES IN DIRECT AND INDIRECT TAX: Key Changes and Recommendations – 37th GST Council Meeting: On 20th September 2019, as anticipated, the all-powerful Goods & Services Tax Council (hereinafter ‘Council’), in its 37th Meeting held in Goa, took certain key decisions. Recent economic slowdown coupled with industry’s downward trend and genuine demand for suitable […]
As per twitter handle of Deputy CM of Bihar , Shri Sushil Kumar Modi – Filing of Annual Return in GST waived for dealers below 2 crore turn over. Above 2 crore Annual GST returns will be simplified. Further Update from Press Releases by Ministry of Finance on decisions taken in 37th GST Council Meeting […]
The old age may be, financially, a golden period of your life or the worst part of your life depending on whether you have accumulated enough to meet day today expenses after your retirement. Due to gradual decline of joint family system in India couple with rapid urbanization and the increasing trend of children staying […]
Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for […]
The Punjab Accountants Association requested to extend due date for uploading and filing audited tax reports by Assesses till 30th November, 2019. They have submitted the representation to Ms. Nirmala Sitharaman, Honorable Union Finance Minister, Government of India. Text of the Representation is as follows:- THE PUNJAB ACCOUNTANTS ASSOCIATION OFFICE : R. K. ASSOCIATES, SEHDEV […]
Valuation for issue and transfer of shares (unlisted) under Income-tax Act, 1961, Companies Act, 2013 & FEMA Regulations been explained in detail in this article.
AIFTP has made a Request for extending the due date for submitting tax returns and tax audit reports by one month i.e. from 30.09.2019 to 31.10.2019 for A.Y. 2019-20 to Hon’ble Smt. Nirmala Sitharaman, Union Finance Minister. Text of the representation is as follows:- ALL INDIA FEDERATION OF TAX PRACTITIONERS HO: 215, Rewa Chambers, 31, […]
Chamber of Tax Consultants has made Request for extension of due date for filing income tax returns and tax audit reports for AY 2019-20 due on September 30, 2019 to Shri Pramod Chandra Mody, Chairman of CBDT. Text of the Representation is as follows:- The Chamber of Tax Consultants Date: 16th September, 2019 To, Shri Pramod […]
To encourage the assessee to save and invest their hard-earned money, numerous deductions under income tax are offered by the Government. Such deductions also facilitate tax savings for the assessee. One such offered deduction is deduction under section 80CCC of the Income Tax Act. The present article exclusively covers the topic ‘deduction under section 80CCC […]
