The Side-Hustle Tax Guide: Student Entrepreneur Edition

Introduction As a student entrepreneur in India, running a side hustle can be an exciting way to earn extra income and gain valuable business experience....

Alternative Funding: Beyond VCs and PE – New Ways to Scale

In the bustling streets of Bengaluru, a bootstrapped SaaS startup recently secured ₹5 crores without diluting a single share. In Mumbai, a D2C brand...

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Instant PAN through Aadhaar based e-KYC

General Scheme of PAN Allotment: A new facility of instant e-PAN through Aadhaar based e-KYC has been introduced by the Honourable FM in Budget 2020. Electronically...

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...

Section 115 BAB – New Corporate tax rate for new manufacturing companies

The Government, via Taxation Laws (Amendment) Ordinance, 2019 passed on 20 September 2019, has introduced a favorable new corporate tax rate for new...

Understanding the Complex Section 14A of the Income Tax Act, 1961.

Introduction Section 14A was inserted by Finance Act, 2001 having a retrospective effect from 01.04.1962. To understand the reason behind the insertion of section 14A,...

Do you need to disallow expense as per Section 14A of Income Tax Act even if you have sufficient interest free funds?

Judgement of High Court of Gujarat in case of PCIT vs. Sintex Industries Ltd . Further SLP dismissed by SC. Facts of the case: In...

RULE 8D of Income Tax Act: Method for determining amount of expenditure in relation to income not includible in total income

What is Rule 8D of Income Tax Act, 1961? Rule 8D of Income Tax Act reads as follow: Where the Assessing Officer, having regard...

“LLP Settlement Scheme 2020”- File all pending returns with reduced additional fees- One time benefit for LLPs

The Ministry of Corporate Affairs, Government of India has introduced the "LLP Settlement Scheme 2020" vide General Circular No. 06/2020 dated 04.03.2020 and modified...

Companies Fresh Start Scheme, 2020- One time opportunity for Companies to clear defaults

The Ministry of Corporate Affairs has introduced Companies Fresh Start Scheme,2020 (‘CFSS Scheme’) vide circular no. 12/2020 dated March 30, 2020 under Section 460 of the...

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