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Section 115BAD was introduced to provide the benefit of a lower tax rate to Resident Cooperative Societies. It is applicable for any PY relevant to the AY beginning on or after 01.04.2021.
Section 44ADA was introduced to extend the benefits of presumptive taxation to specified professionals and to reduce the burden of compliance to small professionals.
Sections 90 and 91 of the Indian Income Tax Act, 1961 deals with Foreign Tax Credit. Through this article let us understand how to avail Foreign Tax Credit.
There are various sections under the Income Tax Act, 1961 which provides an exemption from long term capital gain. Through this article let us understand Section 54F.
An Independent director in relation to a company is a director who is not a managing director, whole time director or a nominee director. Let us discuss the steps involved in Appointing an Independent Director.
As per section 54, an individual or HUF selling a residential house property can avail tax exemption under the said section for capital gain, provided the capital gains are invested in purchase or construction of Residential House Property.
DIN is the abbreviation for Director Identification Number. It is allotted to an individual who is appointed as a director or proposed to be appointed as a director. Let us understand the procedure for obtaining a DIN.
According to section 2(34) of Companies Act,2013, a Director is a person appointed by the Board of the company who manages the affairs of the company.
With the pandemic Covid-19 taking over the world and increasing awareness about the importance of healthcare, it wouldn’t be a surprise if there is an increase in the allocation of budget for healthcare.
In this article , the meaning of deferred tax asset and deferred tax liability has been explained along with brief examples for better understandability.
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