CAclubindia Articles

Impact of MLI on Indian Tax Treaties

CMA Damini Agarwal 13 July 2020 at 09:34

Multilateral Instruments (MLI) is indeed the talk of the town in the world of International Taxation. Under the OECD*/G20 inclusive framework on Base Erosion and Profit Shifting (BEPS), more than 125 countries are collaborating to put an end to tax avoidance strategies that exploit the gap and mismatches in tax rules to avoid paying taxes.

Increasing paid-up share capital: Through private placement

Nishant Mishra 13 July 2020 at 09:34

Section 2 clause (64) define paid-up share as "paid-up share capital" or "share capital paid-up" means such aggregate amount of money credited as paid-up as is equivalent to the amount received as paid-up in respect of shares issued and also includes any amount credited as paid-up in respect of shares of the company

All about GSTR-9 & GSTR-9C Filing

CA Shubhi Khandelwal 13 July 2020 at 09:34

Form GSTR-9 should be filed yearly by registered taxpayers. It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year.

Reduced Rate of Income Tax for Domestic Companies - Section 115BAA

CA Alexandar Gazi 13 July 2020 at 09:34

Every domestic company can optionally choose to pay income tax @22% on its total income for any previous year relevant to the assessment year beginning on or after 01.04.2020

Blocked Credit Sec.17(5) of CGST Act, 2017

CA Santhosh Gupta Kethepalli 13 July 2020 at 09:34

Input tax credit is not available in respect of certain inward supply of goods or services as per Section 17(5) of the CGST Act, 2017 this is called blocked ITC.

MSME Classifications and Registration Requirements w.e.f. 01.07.2020

Hemant Kumar Gupta 13 July 2020 at 09:34

Ministry of Micro, Small and Medium Enterprises have come out with notification no. [F. No. 21(5)/2019-P&G/Policy (Pt-IV)] dated 26th June 2020, wherein new criteria of classification of enterprises and new registration procedures under MSMED Act,2006

Expenditure related to exempt income

FCS Deepak Pratap Singh 13 July 2020 at 09:33

An assessee is not required to pay any tax on exempt incomes and hence any expenditure incurred for earning these types of income should not be allowed to be deducted from taxable profit of an assessee.

NPS Tier II Tax Saver Scheme 2020 & Benefits

CS Lalit Rajput 11 July 2020 at 16:01

Tax benefit of Section 80C will be available to the Government employee if, they contributes towards Tier-II of NPS.

Tax Saving Investment Options & Deductions under Income Tax for Individual and HUF

CA Rahul Mittal 11 July 2020 at 10:47

To claim a deduction in any year, it is necessary to invest in that year. Due to COVID Pandemic, Govt. has extended the date to 31.07.2020 for the financial year 2019-2020 to make an investment for deduction under chapter VI-A and section 54 to section 54GB.