Income Tax Articles
Trusts having mixed activities eligible for exemption under Sec 11 and 12?
In such case the cancellation of registration of trust under section 12AA by the Commissioner of Income tax is not required and even if commissioner of income tax has not cancelled the registration under section 12AA for such previous year, exemption under sec 11 & 12 shall not be allowed.
All about Capital Gain Account Scheme 1988
he Capital Gain Account Scheme (CGAS) was introduced in 1988 by the central government. The CGAS Scheme has total 13 rules which deals with various issues involved in deposit of unutilized amount under capital gain account.
How are Dividends Taxed?
Finance Act 2020 abolishe dividend distribution to tax shifts the burden of tax on dividend over the shareholders. Finance Act proposes for moving towards classical system of taxing dividends in the hands of shareholders/unitholders. The dividend is income in the hands of shareholders and not a company. Therefore, the incidence of tax should fall on the shareholders.
Planning to Return to India for good? Useful checklist
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
Amended TDS Regime for FY 2020-21
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.
Changes in taxation amid Covid 19
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.
Analysis of Direct Tax changes introduced by the FM -CCI Talk
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
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
Analysis of the Direct tax Vivad se Vishwas act, 2020
Vivad se Vishwas Scheme was announced in Budget 2020. The Scheme aims at speedy and hassle-free recovery of these outstanding Income Tax dues. This scheme has come into the force from 17th March, 2020 and the last date to avail this scheme without interest is 30th June, 2020.
Revised FAQs on Vivad se Vishwas Act, 2020
18 May 2020
2840 Views
The Central Board of Direct Taxes(CBDT) issued a further clarification on the Vivad se Vishwas Act 2020. The 55 FAQs on the Vivad se Vishwas Act have been modified.
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