Content Overview of form PAS-6 Key points of form PAS-6 Conclusion OVERVIEW OF FORM PAS-6 The Reconciliation of Share Capital means to match the records of the dematerialized and physically held securities with all the securities, on orderly basis. In normal parlance, it is reconciliation of the total Share Capital of the Company held in…

Content Section 80C Life Insurance policy u/s 10(10D) Employees provident fund Contribution to approved superannuation fund VPF Public provident fund Sukanya samriddhi scheme Subscription to National saving certificates VIII 5 years post office time deposit account Repayment of housing loan including stamp duty, registration fees and other expenses Tuition fees Donations to political parties Unit…

Content Whether the gain or loss of securities is treated as ‘Income from Business’ or ‘Income from Capital Gains Points that can be considered while deciding whether share or securities are treated as capital assets or stock in trade: Treatment under head ‘Income from Business and profession’ What is speculative business income? Deduction of expenses…

Content Introduction of Start-up India. Tax benefits for start-ups. Other benefits for start-ups. What are features of startup companies? Introduction of Startup India Startup India is an initiative which helps the new entrepreneurs to establish the business. People can start their business easily because of ease in formation, seed finance, space to startup, human resources/…

During this pandemic the Goa Bench of the GST Authority of Advance Ruling (AAR) has held that the alcohol based hand sanitizers will attract 18% GST. This cannot be exempted from GST however; it is classified as essential commodity. The applicant was of the opinion that hand sanitizers should be taxed at 12% under GST…

Content What is Udyam registration? How can be an enterprise classified as micro, small or medium enterprises? What are the benefits of Udyam registration? How to register in Udyam? Who can get Udyam registration? Document requirement for Udyam registration. What is Udyam registration? Udyog Aadhar or Udyam registration is a twelve digit Unique Identification Number…

Content Comparison of new and old tax slab rates Pros and cons of New tax Regime Who are eligible under new Tax regime? Deductions allowed under New tax regime Making choice between the two The Finance Act, 2020 inserted a new section 115BAC in Income tax Act, 1961 with effect from the assessment year 2021-2022,…

One should always keep some precautions in mind while submitting income tax return (ITR). The points that should be kept in mind while filing ITR are: The most important thing while filing income tax return is that one should always file income tax return before due date otherwise this will attract penalties. Taxpayers should always…

Content Benefits of filing ITR Disadvantages of not filing the ITR Forms under ITR Who is required to file return of income? When required to file Income tax return? Income tax slab rate for A.Y 2020/2021 and 2021-22 Due date for filing Income tax return Why you should file ITR? Income tax return is a…

One time relaxation is given for E-verification of tax return for Assessment years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITR-V form and processing of such returns has now been announced by the CBDT. One-time relaxation for Verification of tax-returns

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