There are powers granted under Article 279A(4)(f) of the constitution, the GST Council can levy a special tax during any natural calamity or disaster. In order to raise additional revenue from GST, central government was considering imposing a Calamity Cess on GST @ 1% to tide over the economic crisis.
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.
Due to the current challenging situation the whole world is facing, as a CA who is working somewhere or a CA who is running his/her own firm, it is particularly important to analyze your firm’s digital quotient and make it tech-savvy.
Also, in Blockchain one can trace the whole transaction from the start to its end. All the transactions linked together. And if anyone tries to hack or make mischief in any one transaction the whole block of a chain will be affected.
A deduction is available under Section 80DD of the I-T Act to a resident taxpayer, if he has incurred expenses for medical treatment, training, and rehabilitation of a dependant parent, with disability
Extension of the cheque's validity span has now become the need of ours in this crucial time. It will be more helpful to small vendors, creditors, and many other corporate companies and also to all business models. Hope the government will understand this serious matter and take the necessary step to boost up the activities and once again the economic engine will be back on track.
Is No Cost EMI really no cost?
Our mind is like a chatterbox, there is chit chat going on every time. When we are working on something and doubt in our mind rises, that single thought of doubt gives rise to 100 alike thoughts and analysis regarding all the possibilities of why that stuff won't work and we are left depressed about the situation.
Even if machines can perform all the calculations or initial audit-related tasks, someone would be needed to verify that AI is doing its task correctly and is not faulty. Instead of being a victim of technophobia, let's work in harmony with technology as the amalgamation of both can reap Fruitful results.
Purchasing property- Nightmare in India