FAQs ON DEDUCTIONS UNDER SECTION 80C, 80CCC, 80CCD & 80D Are taxpayers allowed to say 80C deductions while filing taxation return? Claim for 80C deduction is allowed while filing income return before the top of that Assessment Year. Which year will the investments reflect within the tax return? Assume a taxpayer made investments in accordance with Section 80C guidelines on 30th April 2019. Then, …
Guidance on New Income Tax Section 234F (Fee for delayed filing of Income Tax Return) Most of us have a habit of putting off tax preparation until it is absolutely necessary. For us, failing to meet the tax filing deadline simply means filing a late return. But here’s a bit of advice to all such …
FAQs ON RBI REPORTING UNDER SINGLE MASTER FORM Q.1 the primary step for creating the specified reporting under a brand-new structure? Ans: Registration as Entity user is that the initial step within the new reporting system, if you’re registered as Entity user then you’ll file the Entity Master for providing the main points of Foreign Direct Investment including indirect foreign investment. Submission of Entity master doesn’t mean that you just have done regulatory filings under …
SEBI Investment Advisors Amendment Regulations 2020 The Securities Exchange Board of India recently vide PR No. 37/2020 notified of the amendments to the SEBI (Investment Advisors) Regulations, 2013. The Investment advisors amendment is aimed to strengthen the regulatory framework for investment advisors. Overview of the SEBI Investment Advisors Amendment In India, investment advisers (“IAs“) are regulated …
Tax Residency Certificate A Tax Residency Certificate is a document issued by a country’s Income Tax Authority certifying that a person or company is a Tax Resident (for taxation purposes) of that country. The purpose of a Tax Residency Certificate is to determine which country you belong to and whether or not you are a …
Income tax treatment of a company’s dividend: If a shareholder receives a dividend from a domestic company, he is not required to pay any tax on that dividend until Assessment Year 2020-21 because it is exempt from tax under Section 10(34) of the Act. In such cases, however, the domestic company is required to pay …
Convert Partnership Firm to LLP – Documents Required, Procedure Introduction Partnership, Limited Liability Partnership, Private Limited Company, One Person Company, Sole Proprietorship, Public Company –When it relates, to business a country like India offers a series of alternatives. As a businessman, you have the option of choosing amongst various business models. However, before making a …
KEY FEATURES OF NEW INCOME TAX PORTAL NEW INCOME TAX PORTAL Th IT department is in communication with the Government, to launch their new e-filing portal www.incometax.gov.in, and the same be operational from 7th June 2021. The existing portal will be non-operational or Taxpayers and government between June 1-6. The aim of the new portal is …
A Guide to the Different Types of Legal Entities with Directors and Shareholders When you start a company registration in Delhi, you may have technical or non-technical partners, or you may be a single founder. Delhi is a startup hub and India’s investment capital. Private limited company LLP (limited liability Partnership) One Person Company. Types …
TDS /TCS CHANGES W.E.F. 1ST JULY 2021 Finance Act 2021, which takes effect on July 1, 2012, makes several amendments to TDS/TCS provisions. In brief, the following changes have occurred: TDS is to be deducted by persons whose total sales, gross receipts, or turnover exceed Rs.10 Crore during the financial year immediately preceding the financial …