In this world, we keep having conflict and disputes with our surrounding people day in day out. The Boss will put the blame on subordinates for not completing the work in time, and doing the work carelessly. The Subordinates will … Continue reading
Budget 2021 proposed to limit exemptions on proceeds from unit-linked insurance plans that have so far allowed large investors to receive tax-free returns. The government proposed to amend the clause in the Income Tax Act pertaining to taxation of proceeds … Continue reading
Finance Minister (FM) Nirmala Sitharaman has presented the Union Budget 2021 of India on the 1st of February, 2021. Here are the key Highlights from Budget 2021: Our FM starts the budget2021 announcement by mentioning the challenges during the pandemic … Continue reading
What is LRS LRS stands for Liberalized Remittance Scheme, by which Reserve Bank of India has allowed resident individuals to remit up to $250,000 per financial year to pay expenses related to travelling, medical treatment, studying, gifts and donations, … Continue reading
Budget Highlights 2018 Direct Tax: No change in Tax Rate. All persons including individuals, HUF, Firms and Companies to pay same tax . However Education cess is being increased from 3 to 4 % to be known as Education and … Continue reading
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Simplified Proforma for Incorporating Company Electronically (SPICe)-Though sounds spicy but Government hidden initiative is to make the whole incorporation process Short and Sweet Growth and expansion are key goals for most business owners and entrepreneurs. Whenever any business owner wishes … Continue reading
Frequently Asked Questions (FAQs) on Goods and Services Tax (GST) Following are the answers to the various frequently asked questions relating to GST: Question 1.What is GST? How does it work? Answer: GST is one indirect tax for the … Continue reading
Tax benefits for export of software – CBDT’s latest clarifications In this article the author has examined the contents of the CBDT’s circular giving clarifications on various issues which relate to sections 10A, 10AA & 10B of the I.T. Act, 1961. According … Continue reading
New Disclosure requirements under tax audit with new Form No. 3CD The CBDT has notified Income-tax (7th amendment) Rules, 2014 which substitutes the existing Form No. 3CD with a new form. The new Form 3CD prescribes certain new reporting clauses … Continue reading