Blog

27
Apr
2021
List of Income Tax Benefits available to Small Businessmen
01
Mar
2021
Rates of depreciation  for income-tax
15
Jan
2021
Presumptive Taxation - Income Tax
13
Aug
2020
Income Tax - E-Assessment is now Faceless Assessment

The Central Board of Direct Taxes (CBDT) has revised the E-assessment Scheme, 2019 notified on September 12, 2019. Now, e-assessment scheme shall be called Faceless Assessment. Now, the National e-Assessment Centre shall intimate the assessee for conduct of faceless assessment in case wherein notice has been issued by AO.

Read more
08
Jul
2020
TDS in case of cash withdrawal

To discourage cash transactions and to move towards the cash-less economy, the Finance (No. 2) Act, 2019 inserted a new Section 194N to the Income-tax Act, 1961. Section 194N provides that a banking company or a co-op. bank or a post office is required to deduct tax at source

Read more
18
Jun
2020
Income Tax Accounts and Audit Requirements
01
Jun
2020
Income under the House Properties
27
May
2020
Tax & Corporate Updates May 2020

MSMEs to get loans at 9.25% under Centres Rs 3-trillion package , GST Officials seek Directors Remuneration Information , WhatsApp allowed for GST ,Excise related virtual hearing

Read more
13
Apr
2020
Key income tax changes effective April 1, 2020

Even while the country is in a complete lockdown to control the spread of Coronavirus in the country, the new financial year (FY) 2020-21 has sneaked in from April 1. For income tax purpose, while the FY 2020-21 has begun on April 1 and will end on March 31, 2021, the relevant assessment year (AY) will be AY 2021-22. All income earned during the FY is assessed in the AY and income tax return for FY 2020-21 is accordingly filed in the AY 2021-22. As a taxpayer and even if one is not a taxpayer, there have been several important changes that one needs to be aware of. Here are a few of those key income tax changes effective April 1, 2020.

Read more
28
Feb
2020
Income Tax Notice Received
20
Feb
2020
Taxation on Dividend  Post budget analysis

The dividend so distributed is income in the hands of the recipient instead of the company. Therefore, the incidence of the tax should have been on the recipient. Under pre-budget regime, the incidence of tax was actually on the payer company/mutual fund. Moreover, the pre-budget provisions levied tax at a flat rate (15%) on dividend distribution, irrespective of the marginal rate at which the recipient would have otherwise been taxed. Hence, the provisions were considered iniquitous and regressive.

Read more
05
Feb
2020
Reason I received Income Tax Notice
31
Jan
2020
Tax & Corporate Updates January 2020

Hike in threshold limit for appointing a CS: The MCA has amended the Rule 8 A which changes the threshold limit for appointment of whole time Company Secretary in a private company. Now, companies having paid up share capital of 10 crore of more must have whole time CS in a board otherwise penalty will be imposed on such companies. At present, threshold limit of paid up share capital is 5 crore or more.

Read more
30
Nov
2019
Tax & Corporate Updates November 2019

The Ministry of Corporate Affairs (MCA) has launched MCACMS Portal for issuing show cause notices electronically for non compliances under Companies Act, 2013 and submitting replies from companies, directors with their clarifications and submissions. Based on the replies or submissions, the Register of Companies, Ministry of Corporate Affairs shall initiate penal actions for violations referred to in the show cause notices.

Read more
26
Jul
2018
Income Tax Returns for F.Y. 2017-2018
01
Jun
2018
Tax Time

31st July is due date for Income Tax Returns. Penalty is payable upto 10000 payable if returns not filed on time.

Read more
23
May
2018
Statement of financial transaction- Form No 61A

The statement of financial transaction required to be furnished under sub-section (1) of section 285BA of the Act shall be furnished in respect of a financial year in Form No. 61A. The Due date for furnishing of statement of financial transaction (in Form No. 61A) as required to be furnished under sub-section (1) of section 285BA of the Act respect of a financial year 2017-18

Read more
08
May
2018
Getting Married ? Do keep few of these tax related tips in mind regarding Wedding Gifts.
19
Apr
2018
Company / LLP Incorporation- Advantages
16
Mar
2018
Snippets of changes made in Finance Bill, 2018 as passed by the Lok Sabha
13
Mar
2018
Changes with effect from 1st April 2018
07
Mar
2018
Income Tax Return Due Date 31st March 2018
27
Feb
2018
Tax Saving Investments and Deductions for Income Tax

Just one more month for end of the current financial year. Let us list out the tax saving investments you can make to save your income tax to the best possible. Also includes list of Payments deductions of which can be claimed for tax saving . So plan your taxes well in advance.

Read more
07
Feb
2018
Budget2018: Why FM chose standard deduction and not raised tax exemption limit
30
Jan
2018
Accounts Outsourcing to India

We are keen to network with Tax Professionals / Global Consultants / CPAs / Global Accounting Professionals.We are willing to take up Accounts Outsourcing & Tax Filings from Mumbai for Global Clients.

Read more
14
Jan
2018
CBDT Launches Aggressive Prosecution Of Tax Evaders & Sends Warning To All Taxpayers To Behave
10
Oct
2017
Income Tax Assessment u/s 143(1) / Summary Assessment
27
Aug
2017
Income Tax - Search and Seizure Provisions
07
Jun
2017
Income Tax Appeal ti CIT(A)
16
May
2017
Income Tax Benefits available to Small Businessmen
10
May
2017
Income Tax Rates A.Y. 2016-17 & A.Y. 2017-18
23
Apr
2017
Income Tax Return AY 2017-2018

Its past 31st March, 2017 and its time to know if you will need to file income tax returns for the income earned by you in the previous year. Read on to know more.Also link to download the latest income tax return utilities as provided by the government is provided. If you are still confused and think you need professional guidance you may get in touch with us.

Read more
18
Apr
2017
Compliance Calendar 2017-2018
11
Apr
2017
Taxation for Professionals
31
Mar
2017
Key changes in new ITR forms for AY 2017-18

The CBDT has notified new income-tax return forms (ITR forms) for the assessment year 2017-18. It has prescribed simplified version of ITR-1 with fewer columns. A new column has been inserted in ITR Forms to report cash deposits in banks above 2 lakhs during the demonetisation period, i.e., from November 9, 2016 to December 30, 2016.

Read more