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Discussing 7 important points that must be checked before filing your ITR for FY 2020-21. These include linking your PAN with Aadhaar, Bank Account with PAN, Downloading Form 26AS etc.
TDS must be deducted by the entity who makes the payment to the resident person, as remuneration/rewards, by the way of commission or for soliciting insurance business or for renewal of insurance policies.
The Motor Vehicles Act, 1988 aims to regulate the use of motor vehicles and to compensate those who are injured or killed in a crash, as well as their family members and dependents, if applicable.
In its meeting dated 6th August 2021, the Securities and Exchange Board of India took six major decisions. Same has been discussed in this article.
Vodafone and Cairn, and other taxpayers would be greatly benefitted from this change as they no longer have to battle with the Indian Government and would also get refund of taxes paid (without interest).
Sustainability practices in the long run, would lead to improved financial performance of the firm, increased competitive advantage, profit maximisation and long-term success of the firm.
Section 194Q provides that a purchaser of goods/services shall deduct TDS @0.1% from the amount paid to a seller if the total purchases during the year exceed Rs. 50 lakhs and the turnover in the immediately preceding PY exceeds Rs. 10 crores.
The Orissa High Court in the case of - Safari retreats (P.) Ltd. vs Chief Commissioner of CGSTallowed ITC of construction material and services used for construction of a mall in which shops were leased post construction instead of being sold.
In the Insurance Act, loan/advance on insurance policies of full time employees of the company is allowed, provided that the amount of loan or advance should not exceed the surrender value of the policy at the time of granting loan/advance.
You Can Save Your Taxes By Using Various Exemptions And Deductions Provided By The Government Under Various Provisions Of Income Tax Act,1961. Discussing the same in this article.
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