Articles by Taxblock

Notices, Appeal, Revisions, Search & Seizure Under Income Tax

Posted by Taxblock 01 May 2022 2036 Views

If any person is receiving notice then they need to act on the notice. Recently CBDT which is known as Central Board of Direct Tax has launched the scheme that is termed as Centralized Communication Scheme, the scheme says that all the communication shall be made in electronic mode.

Minimum Alternate Tax

Posted by Taxblock 01 May 2022 3713 Views

Minimum Alternate Tax or MAT is a provision that is in direct tax laws which is for companies, it is the provision for limit the tax exemptions which is availed by the companies.

What is an SEZ, tax & trade implications on companies located in SEZ?

Posted by Taxblock 02 April 2022 2571 Views

A Special Economic Zone (SEZ) is a zone wherein businesses enjoy simpler tax and easier legal difficulties. It is located in a country’s national borders only, but they are treated as foreign territory for tax purpose.

Understanding Different Deposits And Applicable Tax Benefits Around It

Posted by Taxblock 27 March 2022 1703 Views

Bank gives scheme under different types of deposit and account. In this article we will discuss about them in detail and we will also discuss the tax benefits you get under Income Tax Act.

Capital gains and its taxability

Posted by Taxblock 23 March 2022 8050 Views

Capital gains are the amount of net profits(gains) that the investor makes from selling of any capital assets over the purchase price of that assets. The entir...

Cryptocurrencies & Taxation of Cryptocurrencies under Income Tax

Posted by Taxblock 17 March 2022 3304 Views

A cryptocurrency is digital, decentralized currencies that are issued by a private enterprise to work as a consideration of transaction between two individuals or businesses without any direct interference from the government.

Applicability Of GST On Restaurants, Hotels, Fine-Dining, Restaurants And Cloud-Kitchens

Posted by Taxblock 16 March 2022 3998 Views

In this article we will talk about how GST affected the bills of restaurants, hotels and other places where we usually go out for eat something.

New Income Tax Portal

Posted by Taxblock 16 March 2022 6463 Views

New Income Tax Portal was launched on 7th June, 2021 by CBDT (Central Board of Direct Tax). The portal is being redesigned for the easy filing and to eliminate the glitches or any other difficulties.

Recent notices on foreign relief disallowance (FCRA)

Posted by Taxblock 07 January 2022 1294 Views

The FCRA license is a mandatory registration granted to an NGO or any other nonprofit making organization which allows them to receive funding from abroad.

How are winnings from fantasy games taxable in India?

Posted by Taxblock 07 December 2021 5321 Views

As per the Federation of Indian Fantasy Sports, the income of these operators expanded in last few years. Which increased to Rs. 2400 crores in financial year 2020. Also, there was expansion in number or operators there was 10 in 201 and now there is 150 in 2020.