There is some report circulating on social media regarding suggestions by a few IRS officers on tackling Covid-19 situation. It is unequivocally stated that CBDT never asked IRS Association or these officers to prepare such a report
A negative price suggests, instead of buyers paying the sellers, sellers were paying buyers, $37 per barrel of crude oil, along with the crude oil.The producers (who dig the oil) didn't want it. The refiners won't touch it. And the consumers have no need for it.At the close of trading hours, the Crude OIL WTI future price breached the $0 level.
Water Water Everywhere, Not a Drop to Drink: RBI's Liquidity Infusion Initiatives announced on 17th April 20
The Finance Act 2020 has re-introduced the classical system of taxing dividend income in the hands of recipient shareholders at their respective applicable slab rates and the domestic companies or mutual funds are not required to pay any DDT on such dividend income, w.e.f. AY 2021-22, i.e. w.e.f. 1.4.2020.
Equalisation Levy will now be extended to an e-commerce operator on e-commerce supply and services undertaken on or after 1 April, 2020. The scope of equalisation levy was extended to E-commerce operator in Finanace Act 2020.
The new income tax regime u/s 115BAC has come into effect from financial year 2020-21. It is optional to opt for the New Tax Regime. Here is a break-even analysis od the New Income Tax regime.
Decoding the Lesser Talked about Nuances of Union Budget 2020
The 'Bucket-List' of a 'Business' from the Union Budget 2020!!
Digital Transformation of Indian Tax Administration: CBDT's 'Faceless e-Assessments' & CBIC's 'e-Invoicing'
'Welcome to the New Era of 'Faceless', 'Jurisdiction-less', and hopefully 'Corruption-less' E-assessments.' In this article you will get valuable and informative insights on the difference between e-assessment and regular assessment, the benefits as well as the challenges that e-assesment will face.