INTRODUCTION Through the Finance Bill 2018, the govt has presented Section 112A under the tax Act, 1961. The new section 112A has been embedded to collect long-term capital gain charges on the exchange of value share, units of value arranged assets, and units of a business trust. The justification behind the presentation of new section 112A, [...]
Black money is a major threat to the Indian economy. Section 269St was inserted in Income Tax Act,1961 to curb the problems caused by black money. Black money has been a major threat to our economy. Many taxpayers use only cash transactions in order to evade their tax liabilities and their responsibility towards the country. Cash [...]
Introducing the first union budget 2020 of the 3rd decade of the 21st century, Finance Minister Smt. Nirmala Sitharaman revealed a series of far-reaching reforms, pointed at fortifying the Indian economy by a succession of short-term, medium-term, and long-term projects. This year the union budget is themed as " Ease of Living ". The Finance Minister [...]
In the Latest ITR Slab 2020, the finance minister " Nirmala Sitharaman" declared the deduction in income tax rates. The new rates, individuals who are earning up Rs.5 Lakh will not require to pay any tax. Let's have an introduction to ITR slab 2020-2021 in detail. Introduction: ITR Slab 2020-2021 The Finance Minister stated that the [...]
80G Certificate for Individuals 80G Certificate helps you to exempt yourself from paying taxes to the government partly or fully. It became a part of the law book in 1967-68 and it still holds an important part in saving taxes. You get tax exemption on your taxes if you are making donations to: Charitable trusts Section 8 [...]
The Ministry of Corporate Affairs, in a statement, released on the 29th of October 2018, has declared to favor the requests of the stakeholders by extending the Roc filing due date of Financial Statements and Annual Returns in the forms (details of which are provided below). The latest announcement allows the concerned companies to complete these obligations [...]
