Company Fresh Start Scheme (CFSS), 2020 & LLP Settlement Scheme, 2020
In line with government’s initiative to ease of doing business & good corporate governance, the Ministry of Corporate Affairs(MCA) has come up with the ‘Companies Fresh Start Scheme 2020’ to enable defaulting companies to make good of any filing-related defaults, irrespective of the duration of default, and make a fresh start as a fully compliant […]
Tax Exemption for Startups Entity under section 80-IAC & Angel Tax Exemption (After Union Budget 2020)
Startup India is a flagship initiative of the Government of India, intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. Since the launch of the initiative on 16th January, 2016, Startup India has rolled out several programs with the objective of supporting entrepreneurs, and transforming India […]
Employ More – Save More
Section 80JJAA Tax Deduction for salaries paid to New Employees A benefit missed out by many Attention Businessmen, YOU CAN GET TAX BENEFITS FOR PAYING SALARY TO YOUR NEW EMPLOYEES!! How? Read below! You must be wondering why a tax article is addressed to you! Well, the reason is that you are doing quite a […]
Tax Collected at Source (TCS) on Tour Operator
✓ Do you know that Budget 2020 cast an additional burden on Tour Operators to collect additional tax from the person who buys “Overseas tour program” package from Tour Operator from 01st April, 2020. ✓ Whether everyone will be required to collect TCS or only a specified person? Every person who is a seller of […]
Tax implication on Sale of Agriculture Land
[vc_row][vc_column][vc_column_text]In this article, I have highlighted on the taxability of Sale of Land under the Income Tax Act. Which land is taxable – Agriculture or Non-Agriculture. Also whether Rural or Urban Agriculture land is taxable. And how it will be taxable whether as Capital Gain or as Business Income. Is there any tax benefit that […]