Citizen or person of Indian origin(PIO) who, being outside India, comes on a visit to India and has total income, other than the income from foreign sources, exceeding 15 lakh rupees during the previous year, the second condition of residence would apply with 120 days instead of 182 days...
The Union Budget 2020 announced few amendments for Trusts and Charitable Institutions. In the proposed regime after processing the application, trust or institution�s registration is given for a limited period of 5 years...
This analysis is derived from a Vivaad Se Vishwas Decision Support Report...
The ‘Vivad se Vishwas’ Scheme was announced during the Union Budget, 2020, to provide for dispute resolution in respect of pending income tax litiga..
Eligible Cases Appeals/writs/S.L.P. pending Orders for which time for filing appeal/S.L.P. not expired DRP Cases pending 264 Revision pendingDISPUTES COVEREDSch..
Will scrapping of DDT, encounter Investors or Indian Economy?..
The NBFC sector which has been ailing for quite some time, was expecting some booster shots in the budget 2020. However the Finance Minister preferred to stick to a more conservative regime to address the liquidity constrains of NBFCs and HFCs. ..
Through the Companies (Amendment) Act, 2019, changes were made in the Companies Act, 2013, inter alia, to convert 16 criminal offences into civil wrongs. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha. Stating the chronology, Shri Thakur said that in continuation of the Government’s endeavour in similar directions, a Company Law Committee was constituted by the Ministry of Corporate Affairs in September, 2019, inter alia, to further decriminalise the provisions of the C..
The Finance Bill, 2020 proposed to remove Dividend Distribution Tax (DDT) at the level of Company/ Mutual Fund and proposed to tax the same in the hands of share/unit holder. It was also proposed to levy TDS at the rate of 10% on the dividend/ income paid by the Company/Mutual Fund to its share/unit holder if the amount of such dividend/ income exceeds five thousand rupees in a Financial Year. Queries have been received to the effect that whether under the proposed section 194K, the Mutual Fund would be required to deduct TDS also on the capital gains arising on redemption of unit..
Comparative analysis on budget 2020 for Salaried Individual..