Here's a comprehensive overview of how these frauds operate, why they are effective, and how you can protect yourself.
22 August 2024
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A detailed overview of various allowances as per the Income Tax Act and the 2024 Budget.
Share forfeiture can be defined as the process of a cancelling the shares allotted to the defaulting investors by the company.
Angel Tax, introduced in 2012 under Section 56(2)(viib) of the Income Tax Act 1961, was a tax levied on startups receiving investments from angel investors when the amount raised exceeded the fair market value of the shares issued.
This section is used, or I must say misused, in most of the Notices! The department is trying to levy a penalty under this section in most cases, but the High Court's views are in favour of the Assessee.
ITAT Mumbai rules that a Rs 20 lakh gift received from a brother in the UAE is exempt from tax under the Income Tax Act, providing clarity on tax-free gifts from relatives abroad.
Understand the risks associated with early tax filing.
Promoters should have appropriate qualifications and requisite experience. If the promoter has studied at a foreign university and knowledge of law, etc., in the Indian context is not known to him, then another director should have that knowledge or experience.
On this special day, many brothers and sisters exchange gifts as a token of their love and bond. But what about the tax implications of these gifts?
In a move that could significantly impact policyholders and the insurance sector, the Goods and Services Tax (GST) Council is set to review the current 18% GST on insurance premiums.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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