Finance
What is Professional Tax? View Tax Slab and Applicability
What is Professional Tax?
Professional tax is a tax that a state government levies on any individual who earns income through any medium. Unlike the name suggests, it is not just for professionals but for...
Top News
What are Form 15CA and 15CB? How to fill and who are applicable.
Any payment made to a non-resident or a foreign company is subject to various rules and regulations.
As per provisions of Section 195 of Income-tax Act,1961 any person responsible for paying money to a non-resident...
Finance
Relaxation In Applicability of Accounting Standards Commencing From April 1, 2020.
Announcement by The Institute of Chartered Accountants of India
Criteria for classification of Non-company entities for applicability of Accounting Standards. The Council, at its 400th meeting, held in March, 2021, considered the matter...
Case Laws
ITAT e-filing Portal to go live on 21 June 2021
ITAT has announced that e-filing portal will be launched for filing of appeal before the Income tax appellate tribunal.It has been mentioned that e-filing portal shall be live from 21.06.2021 but same shall be...
Top News
A guide to depreciation rates for AY 2021-22
Depreciation is allowed as a deduction under section 32 of the Income Tax Act, 1961. In the computation of taxable income, the depreciation rate as per income tax act will be allowed as deduction...
Top News
Draft Model Tenancy Act – 2020: A major step to streamline the property renting process in India.
After releasing the draft in 2019, the Union Cabinet on 2nd June 2021 approved the Model Tenancy Act (MTA) to streamline the process of renting a property in India and aid the rent economy...
Case Laws
Where department has accepted repayment of loan in subsequent year, no addition can be made in current year on account of cash credit.
The ACIT Vs. Smt. Anuradha Anilkumar Agarwal
Facts of the case
Pertaining to Ground 1:The assessee has shown total purchases of Rs.8,27,50,188/- in respect of Finished Sarees, Grey and Border. According to the AO,...
Finance
Is RBI’s latest circular on Crypto currencies a green signal for Legalization/Regularization of crypto currency trading in India?
Legalization/ Regularization of crypto currency trading in India?
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