Over a period of time, the Goi has time to time amended these provisions. Before 2017, Gift was taxable in hands of Individual, HUF, Firm and Closely held Company at tax is levied at the rates prescribed by Finance Act.
In this article, we will discuss the major updates from the Finance and Tax Industry between 19th December and 26th December 2020
All persons paying salary are responsible to deduct TDS on income chargeable under the head "Salary". In this article, we discuss all about TDS u/s 192 - Payment on Salary.
In this article, we discuss the provisions of Presumptive Taxation in case of Partnership Firms and Applicability of Section 69C in the case where the assessee has adopted the presumptive tax system.
This article will focus on a very vital topic in the International taxation field. There are different views regarding permanent establishment based on the OECD model and the UN model.
TDS works on the concept that every person making a specified type of payment to any person shall deduct tax at the rates prescribed in the IT Act at source and deposit the same into the government's account.
In this article, CA Mehul Thakker explains the concept of International Taxation with regard to the Taxation of Non-residents Shipping Business in Section 44B of the Income Tax Act.
In this article, we will understand the amendment in Section 194J w.e.f 1st April 2020 - Interpretation of "Fees for Technical Services" (FTS) and "Fees for Professional Services" (FPS)
In this article, we discuss all the Important Judicial Pronouncements on Presumptive Taxation under the Income Tax Act 1961.
Residential status is a vitally critical component under Income tax. It varies for various classes of assessees. The concept of residential status lies under Income tax and FEMA.
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