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Income Tax
Section 43B: What’s New and Why It Matters & Impact on MSME Payments.
To promote timely payments to micro and small enterprises, payments made to such enterprises have been included within the ambit of section 43B of the Act vide FA 2023. A new clause (h) has...
Income Tax
Section 206C(1H): Area of decision making for company management and business owners for smooth implementation of TCS on sale of goods
TCS provision would apply on all sale consideration (including advance received for sale) received on or after 01- 10-2020 even if the sale was carried out before 01-10-2020.
With effect from 01-10-2020, the Finance Act,...
Top News
FAQs on New Income Tax Regime u/s.115BAC
What is new Income tax Slab for AY 2020-21?
-> Under existing regime the taxpayers (Individuals and HUF) were taxed @20% with taxable income in the range of Rs 5 lakh to Rs 10 lakh....
Case Laws
25 Latest Income Tax Judgements In India
The year 2019 has been a very significant one to the taxation regime as the government has introduced various revolutionary changes in the laws and rules and regulations.
The contribution of the...
Finance
Why Donation for Fight against Coronavirus to third party NGOs is not a good idea?
Earlier, the trusts were formed by affluent people of same community who infused corpus money out of their own savings and carried out charitable activities in the nature of relief for the poor, education...
Income Tax
THE DIRECT TAX VIVAD SE VISHWAS BILL, 2020 read with AMENDMENTS
The Direct Tax Vivad se Vishwas Bill, 2020 (the scheme), tabled in Parliament on February 5, 2020, proposes an amnesty scheme for litigations pending as on January 31, 2020, before any of the appellate...
Company Law and IBC
Overview Video on “Vivad Se Vishwas” Scheme as announced in Budget 2020
The Direct Tax Vivad se Vishwas Bill, 2020 (the scheme), tabled in Parliament on February 5, 2020, proposes an amnesty scheme for litigation pending as on 31.01.2020, before any of the appellate forums. Under...
Income Tax
Can Taxpayer opt for Vivad se Vishwas Scheme in case an enhancement notice is issued by CIT(A)
According to the Finance Minister, at present there are as many as 4,83,000 direct tax cases pending in various appellate forums i.e. Commissioner (Appeals), ITAT, High Court and Supreme Court and hence the Bill...
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