TDS at the time of purchase of immovable property Section 194-IA of the Act relates to payment on transfer of certain immovable property other than agricultural land and providesfor levy of TDS at the rate of one per cent. on the amount of considerat
Currently, a person other than a company or a firm is required to furnish the return of income only if his total income exceedsthe maximum amount not chargeable to tax, subject to certain exceptions. Therefore, a person entering into certain high val
At present there is no liability on an individual or Hindu undivided family (HUF) to deduct tax at source on any payment madeto a resident contractor or professional when it is for personal use. Further, if the individual or HUF is carrying on busine
The salient features of the rates specified in the said Part III are indicated in the following paragraphs Individual, Hindu undivided family, association of persons, body of individuals, artificial juridical person.Paragraph A of Part-III of First S
Several tax proposals aim to promote investments in start-ups and sunrise industries in the countryLower 25% corporate tax rate is to be applicable to those with annual turnover upto Rs.400 crore instead of the current limit of Rs.250 crore Increase
In order to further discourage cash transactions and move towards less cash economy, it is proposed to insert a new section 194N in the Act to provide for levy of TDS at the rate of two per cent on cash payments in excess of one crore rupees in aggre
Existing sub-section (1) of section 139A of the Act, inter alia, provides that every person specified therein, who has not been allotted a PAN, shall apply to the Assessing Officer for allotment of PAN. It has been observed that in many cases persons
FINANCE (No.2) BILL, 2019PROVISIONS RELATING TO DIRECT TAXES & RELATED LAWSIntroductionThe provisions of Finance (No. 2) Bill, 2019 relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as the Act),
Tax rates for individuals having taxable income from Rs. 2 cr - 5 cr and Rs. 5 cr & above to be increased by around 3 % and 7 % respectivelyDirect Tax revenue increases by over 78 % in FY2018-19 from FY 2013-14; rose to Rs. 11.37 lakh crore from
Start-ups and their investors filing requisite declarations not to be subjected to any scrutiny regarding valuations of share premiumsE-verification mechanism proposed for establishing identity of the investor and source of his fundsTV programme prop
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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