The Union Minister of Finance Nirmala Sitharaman presented the Union Budget 2022 on February 1, 2022. Here are the sector wise highlights of the Union Budget 2022; 1. Tax and Economy Fiscal Deficit is 6.9% of the GDP. Reduced AMT… Read More
Section 194N
The First Fiscal Budget being presented by Honorable Minister of Finance Nrimala Sitaraman in 2019 introduced a new section 194N which will attract a TDS on cash withdrawals in excess of Rs. 1 Crore and is in force with effect… Read More
Section 12AB and 80G (New Registration Process for NGOs)
Latest News; Deadline for 12A and 80G renewal under new provisions has been extended till 31st August, 2021. The Finance Act, 2020 brought certain changes in the provisions related to NGOs in India for the new as well as already… Read More
Trading in F&O? All you need to know!
Dealing in F&O has become a very common investment option for investors now days. Unfortunately not many people know about the tax treatment and reporting of these transactions in their income tax returns. Failing to report these transactions in your… Read More
Section 12AB Introduced by the Finance Act, 2020 (New Provisions for exemption for Charitable/religious trusts /institutions etc. w.e.f 1st October, 2020)
Latest updated; In view of the Covid-19 outbreak in the country the new provisions for renewal u/s 12AB the deadline has been extended till 31st March, 2022. Finance Minister Mrs. Nirmala Sitaraman presented the Union Budget, 2020 on 1st February,… Read More
New Procedure for MSME Registration wef 1 st July, 2020 (Udyam Registration)
In an initiative under Atmanirbhar Bharat, the Ministry of Micro, Small and Medium Enterprises (MSME) vide Notification dated 26 th June, 2020, notifies the new definition of MSME and new registration process which will be called Udyam Registration. For the… Read More
GST Due Dates Extension in view of COVID-19 Outbreak
In view of the COVID-19 outbreak across the world, Indian Government has taken all necessary relief measures to provide the relief to the people of the country in such a crucial times as this where the world is suffering from… Read More
MSME Registration
MSME i.e Micro, Small and Medium Enterprises are the backbone of any developing country. In India too 45% of the total industrial employment, 50% of the total exports of India and 95% of the Industrial units comes from MSMEs and… Read More
Vivad Se Vishwas Scheme 2020
Introduction Vivad Se Vishwas Scheme, 2020 was introduced by the Finance Act, 2020 with an objective of reducing the pending income tax litigation, generating revenue for the Government on time and help tax payers by reducing their tax burden by… Read More
Startup India Initiative
Startups are very important for the growth of any economy; Mr. Narendra Modi Prime Minister of India has started Startup India initiative to promote the startups to boost the Indian Economy. The startup for the purpose of Startup India is… Read More