The term ‘interest on securities’ is defined under section 2(28B) of the Income Tax Act, 1961 which means interest on securities of the Central or a State Government and interest on debentures / other securities issued by or on behalf of a local authority / a company / a co-operative society established by the Central […]
Currently, certain category of person e.g. Individual, HUF are required to file a tax return only if his total income exceeds maximum amount not chargeable to tax. With the objective of ensuring governance in Budget 2019 Proviso to Section 139 (1) has been inserted and the scope of tax-return filing requirement has been widened by […]
The main purpose of ‘Tax deduction at Source’ is the collection of tax at the very source of income. The Deductor is required to deduct an appropriate tax and deposit the same with the Government. Different rates of TDS are prescribed for different payment. The present article would help the reader to understand the provisions […]
Conditions for Compulsory filing of Income-Tax Return: Budget 2019 It is a common understanding that an obligation file the return of income under the income-tax Act arises only if the income exceeds the maximum amount not chargeable to tax or when a person desires a loss sustained by him to be carried forward in future. […]
Article analyses Budget Proposals by the Finance Act (No. 2), 2019 – Relevant for International Tax, Transfer Pricing & Non-Resident which includes Amendment of section 9 – Gift made to person outside India (non-resident), Amendment of section 9A – Providing relaxation in condition for offshore funds, Amendment of section 10 – Exemption of interest income […]
Goods and Services Tax (GST) Audit Manual 2019 contains Introduction and Legal Authority for GST Audit, Objectives and Principles of GST audit, Management of GST audit, Selection of registered persons for GST audit, GST Audit – Preparation and Verification, Preparation of GST audit report & follow up, Registered Person’s Master File, GST AD01 – letter […]
Article covers Exhaustive TDS Rate Chart along with the threshold limit for the financial Year 2019-20 / Assessment Year 2020-21 after considering Amendment in TDS law proposed by Union Budget 2019. Readers are requested to note that Chart is been further updated to remove Discrepancies in Section 194I. (At 13.00 PM) Relevant Section Nature of […]
JOIN GST Practitioner Advanced Certified Training course of Ministry of M.S.M.E. at Ahmadabad, Jaipur, Agra, Cochin, Lucknow, Hyderabad, Chandigarh, Chennai, New Delhi, Trichy, Mumbai, Kolkata, Bangalore, Coimbatore and Indore in July and August 2019 starting from 13th July 2019. BROCHURE FOR GST PRACTITIONER ADVANCED CERTIFIED TRAINING ORGANISEED BY MSME – TECHNOLOGY DEVELOPMENT CENTRE (PPDC), A […]
Budget 2019 has brought in amendments to the rules governing M&A transactions from a tax perspective – this article provides highlights of proposed changes.
Consequence of not linking PAN with Aadhaar The existing proviso to the sub-section (2) of section 139AA, provides that the PAN allotted to a person shall be deemed to be invalid, in case the person fails to intimate the Aadhaar number, on or before the notified date. In order to protect validity of transactions previously […]
