“DTAA is a bilateral or multilateral agreement between two or more countries to resolve the issues of taxation of income, bring the transparency and to plug the tax evasion.” Introduction: Globalization is bringing the world closer with each passing day. Many individuals are becoming global citizens, moving from one country to the other as their …
INTRODUCTION Cryptocurrency, by whatever name called, means any information or code or number or token not being part of any Official Digital Currency, generated through cryptographic means or otherwise, providing a digital representation of value which is exchanged with or without consideration, with the promise or representation of having inherent value in any business activity …
OBLIGATIONS ON COMPANIES HOLDING CRYPTOCURRENCIES AND ITS DISCLOSURES Read More »
I was plotted on the stock audit for Sanofi Ltd in the first week of June 2021. Sanofi Ltd is a pharma giant of the country which is listed on the Indian stock exchanges. It is headquartered in Paris, France and is the fifth largest Pharma company in the world in terms of prescription sales. …
Scenario Before Finance Act 2020 Presently, under section 44AB of the Income Tax Act, every person carrying on business is required to get his accounts audited, if his total sales, turnover or gross receipts, in business exceed or exceeds one crore rupees in any previous year. In case of a person carrying on profession he is required …
Increase in the Turnover limit for Tax Audit u/s 44AB [Budget 2021-22] Read More »
Old v/s New Income Tax Slabs Slab Rates: Annual Income Old Tax Rate New Tax rate Up to Rs. 2.5 Lakhs NIL NIL Rs. 2.5 Lakhs to 5 Lakhs 5% 5% Rs. 5 Lakhs to 7.5 Lakhs 20% 10% Rs. 7.5 Lakhs to 10 Lakhs 20% 15% Rs. 10 Lakhs to 12.5 Lakhs 30% …
Quarter TDS/ TCS Return Type Period Last date of filing 4th Quarter TDS Return 24Q, 26Q 1st Jan 2021- 31st March 2021 31st May, 2021 4th Quarter TCS Return 27EQ, 27Q 1st Jan 2021- 31st March 2021 15th May, 2021 Late filing fee if we miss the TDS/TCS return due date: Penalty (Sec 234E): According to Section 234E, a late fine of INR. …
As part of the AatmaNirbhar Bharat Package 3.0 as announced by Hon’ble Finance Minister on 12th November, 2020, certain income tax relief measures were brought in for real-estate developers and home buyers. In order to boost demand in the real-estate sector and to enable the real-estate developers to liquidate their unsold inventory at a rate …
Income Tax relief for Real-estate Developers and Home Buyers Read More »