The article highlights on a few significant changes which are going to give effect in Income Tax from 1st April 2021.
When Shares are issued at a value more than the Face Value, then it is called Issue of Shares at a Premium. In this article, we discuss the tax implications of the same.
Analysing the difference between Indian Income and Foreign Income with respect to the Income deemed to Accrue or Arise in India as per the Income Tax Act, 1961.
In this article, we will be discussing certain legal ways in which an individual can actually save some chunk of their money and not give it all away as taxes.
We are in the month of March, Hence, it is extremely important to know the tax implication on stock market transactions and actions to take before 31st March 2021 as far as tax planning is concerned.
Section 206AA has been inserted to provide that any person whose receipts are subject to TDS i.e. the deductee, shall mandatorily furnish his PAN to the deductor, failing which the deductor shall deduct TDS at the specified rate.
Under the provisions of section 203A of the Act, every person deducting tax or collecting tax is required to obtain TAN and quote the same for reporting of tax deduction/collection to the Income-tax Department.
As per section 201 of the Income Tax Act, if a deductor fails to deduct TDS or after deducting the same fails to deposit it to the Government's account then he shall be deemed to be an assessee-in-default and liable for consequences discussed in this article.
Discussing Section 200A of the Income Tax Act which lays down the provision for Processing of Statements of TDS and rules on how such a statement is processed. ...
To encourage the assessee to carry the business undertaking, exemption under section 54D of the Income Tax Act, 1961 is provided. Let us understand in detail about section 54D.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Shaswat initial support private limited
Ahmedabad
CS
View Details
CAclubindia
