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Impact of G7 Corporate Tax Deal on India

G7 Corporate tax deal

Advanced economies forming a part of the G7 group reached a historic deal on taxing MNCs (Multi-National Companies). Finance ministers met in London and ag...

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Taxation

What is Wealth Tax in India & why was it abolished...

What is Wealth Tax in India & why was it abolished?

Background A wealth tax is imposed on individuals, HUFs, and companies in India if their net worth exceeds Rs. 30 lakhs on the valuation date, which is the...

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Income Tax Taxation

Taxability of Land or Building Sale-Section 50C

Taxability of Land or Building Sale-Section 50C

Due to the large population of India, there has always been massive demand for real estate. Therefore it is imperative to know the aspects relating to taxa...

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Income Tax Taxation

How does Income Tax Department trace your High Value Tr...

How does Income Tax Department trace your High Value Transactions?

Did you ever wonder how income tax department gets information regarding your high value transactions? Well, we all know that they are not unaware about su...

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Taxation

All about TDS Liability (Section 194N) on Cash Withdraw...

All about TDS Liability (Section 194N) on Cash Withdrawals

The Union Budget 2020 presented by the Finance Minister has reduced the threshold limit for TDS to Rs. 20 lakhs for the taxpayers who have not filed the IT...

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Taxation

Understanding Meghalaya Professional Tax Registration...

Understanding Meghalaya Professional Tax Registration

Professional tax is levied on the income of individuals from salary by employer, practicing profession like CA , CS , Lawyers etc. in this article we will...

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Taxation

Here’s all you need to know about Tamil Nadu Prof...

Tamil Nadu Professional Tax Registration

Its state government levies tamil Nadu Professional Tax & the Commercial Tax Department of the state is responsible for collecting the professional tax...

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Income Tax Taxation

Govt. extends tax related compliance due dates amid cov...

Govt. extends tax related compliance due dates amid covid-19

In what has come as a massive relief for taxpayers, the government has extended key tax related compliance timelines for income tax as well as Goods and Se...

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