Income Tax Articles

Purchasing property- Nightmare in India

Posted by Galactic Advisors 25 May 2020 5542 Views

Purchasing property- Nightmare in India

Planning to Return to India for good? Useful checklist

Posted by Galactic Advisors 23 May 2020 3832 Views

Many taxpayers had questions about the implications of Returning to India and how to streamline their compliance. We've created a checklist of items for Returning Indians to make life easier

Changes in taxation amid Covid 19

Posted by Anirban Sinha 22 May 2020 4764 Views

The FM lately announced some changes in Direct Tax in the wake of COVID-19. The TDS and TCS rates were reduced by 25%. Various relaxations were also given in GST and Customs some time back.

Amended TDS Regime for FY 2020-21

Posted by Taxolawgy 22 May 2020 4560 Views

TDS is Tax Deducted at Source. It is an indirect way for India's government to raise income tax at source. Union Finance Bill 2020 was presented by India's Finance Minister Nirmala Sitharaman which introduced various amendments for various income tax and the new tax regime for FY 2020-21.

Analysis of Direct Tax changes introduced by the FM -CCI Talk

Posted by CCI Team 21 May 2020 11014 Views

The Finance Minister recently announced various changes to Direct Tax while giving the details of the Economic Package. Various relaxations were given to the taxpayers in the form of extension of the statutory due dates, and reduction in the TDS and TCS rates. After the relaxations were announced by the FM people had several questions about the implications of such changes

All about PPF Account

Posted by Priyanka Sah 19 May 2020 12468 Views

The Public Provident Fund is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968. The aim of the scheme is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits backed by the Centra

Formation of Gratuity Trust

Posted by CA, CS & DISA VIVEK KHANDELWAL 18 May 2020 72655 Views

Gratuity fund which has been and continues to be approved by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner in accordance with the rules contained in Part C of the Fourth Schedule.

Section 206C(1H) New Provisions of TCS on Sale of Goods

Posted by CA Harshawardhan Nigade 18 May 2020 39753 Views

As per Section 206C(1H), such section applies to Seller of whose total sales, gross receipts or turnover from the business carried on by him exceed ten crore rupees during the financial year immediately preceding the financial year in which the sale of goods is carried out.