The newly proposed Section 194R of the Income Tax Act in its present form would be a big compliance challenge for businesses as there are multiple types of perquisites & benefits that are extended to their dealers/ distributors/agents/ channel partners etc with the objective of
Introduction The Hon’ble Union Finance Minister Nirmala Sitharaman has presented the Union Budget 2022-23 of India on the 1st of February, 2022 with an aim to boost growth amid continued disruption from Covid-19 and rising inflation. The Hon’ble Finance Minister mentioned that the country is
Table of Contents Tax Rates Related AmendmentsAmendments related to Personal TaxationTaxation of Virtual Digital AssetsWith-Holding Tax-Related AmendmentsCorporate Taxation AmendmentsProvision for filling Updated ReturnMiscellaneous Amendments Tax Rates Related Amendments The Budget backed no major changes in the tax rates for taxpayers, except for a few minor
GENERAL GST collection for the month of Jan 2022 at 1.40 Lakh crores, which is the highest since inception. In the background of robust economic recovery and buoyant tax collection, Finance Minister Nirmala Sitharaman presented a futuristic and development-oriented Budget for the fiscal year 2022-23.
The Hon’ble Finance Minister Smt. Nirmala Sitharaman on 01st February 2022 presented the Union Budget 2022. The budget is a vision document and has given ample scope for the youth to turn into entrepreneurs and in turn, become employment generators. Recently, there has been a
Table of Contents Goods and services taxKey changesApplicability of proposed amendmentsSection 16: Eligibility and Conditions for taking ITCSection 16: Eligibility and Conditions for taking ITCSection 29: Cancellation or suspension of RegistrationSection 34 – Credit and Debit notesSection 37 – Furnishing details of outward suppliesSection 38
An employee stock option plan (ESOP) is an employee benefit plan that gives employees an ownership interest in the company. It has various benefits for the company as well as to the employees ESOPs gives the right to own a part of the company to
Table of Contents Introduction:-Brief facts of the case were as under:-The court held as under:- Introduction:- The legislature has intentionally drafted the provisions relating to Search and Survey in the statute book of Income Tax Act, 1961 with the target of unearthing the undisclosed income
EDITORIAL Friends, Recently, a detailed guideline has been issued by The Central Board of Direct Taxes (CBDT) in the matter of how taxes would be calculated on maturity proceeds of ULIPs vide Circular No. 2 of 2022 dated 19th January 2022. The CBDT, which frames
EDITORIAL GST on transactions between Head office and Branch office has been a contentious issue since the inception of GST as the said transactions were not liable to any tax under the pre-GST regime. A recent ruling by the Appellate Authority for Advance Ruling (AAAR)
