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 [...]
What is Income tax? Income tax is one of the most fundamental taxes any individual/business has to pay to the government on their income/profits. Income tax generated through the taxation system is directly contributed towards infrastructural development as well as towards payment of salaries of the central government employees. In this article, we will learn about income [...]
Tax Taboo Let's face the facts, The Government of India is no stranger to the problem of tax evasion, willful defaulters and black money hoarders. Few of these steps government has taken famously include Crackdown on Shell companies, Amendments to the Benami Properties Act i.e. RERA and demonetization. Seen individually these steps don't seem to have [...]
