Corporate Tax Rate Cuts: New Contract Manufacturing Units Eligible for 15 Per Cent Tax Benefit
Companies opting for 22% tax regime won’t be eligible for minimum alternate tax credit. spur investment, revive growth and boost job creation. The effective tax rate, including surcharge and education cess, will be 25.17% and 17.16%, respectively. Growth slumped to…
Aadhaar Card for Ayushman Bharat- Pradhan Mantri Jan Arogya Yojana
Aadhaar is not mandatory to availbenefits for the first time under the recently-launched Ayushman Bharat- Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) but will be compulsory for those seeking treatment under the scheme for the second time, according to a top...
Read moreITR Filing To Become Compulsory For These People, More Classes May Be Notified!
Budget has proposed to make Income Tax Return (ITR) filing compulsory for persons who deposit over Rs 1 crore in a current account in a year, spend over Rs 2 lakh on foreign travel or have an annual electricity bill...
Read moreITR Filing To Become Compulsory For These People, More Classes May Be Notified!
Budget has proposed to make Income Tax Return (ITR) filing compulsory for persons who deposit over Rs 1 crore in a current account in a year, spend over Rs 2 lakh on foreign travel or have an annual electricity bill...
Read moreFive provisions you must not miss in the tax return filing process
As the deadline to file the tax return is fast approaching, taxpayers must take note of these provisions to avoid late filing fees and penal consequences. For an individual [not subject to tax audit provisions under Income-tax Act, 1961 (the...
Read moreBudget Amendments – 2019
Assessment No personal interaction Faceless assessment will be launched to bring down personal interaction between the department and the taxpayer. Cases for scrutiny shall be allocated by a Central Cell, without disclosing details. Property TDS on Deals In addition to the...
Read moreBudget 2019 proposes to expand scope of Black Money Act to include NRIs
NRIs will be under glare for their undisclosed properties and bank accounts created during the years when they were ‘residents’. Black money continues to be a bee in the government’s bonnet. It will change the law to go after Indians who have...
Read moreBudget 2019 proposes to expand scope of Black Money Act to include NRIs
Useful Services Links for Non-Resident Indian: NRI Services Menu 1). Income Tax Return 2). NRI Taxation 3). NRI Investment Portal 4). NRI Useful Blog 5). NRI PAN Card 6). NRG Card 7). NRI Seller on TDS Property 8).15 CA/CB (Foreign...
Read moreBudget 2019 proposes quick Aadhaar card for NRIs with Indian passports
As per the current Aadhaar laws, every resident shall be entitled to obtain an aadhaar number by submitting his demographic information and biometric information by undergoing the process of enrolment. Budget 2019 proposes to consider issuing Aadhaar card to NRIs...
Read moreResidential status
Residential status is the starting point to determine: Under Income Tax law, the purpose is to determine taxability of income. It is a revenue law. The income is determined for the full year. If a person is a resident, his…
