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…

Content What is NIDHI Company? Features of NIDHI Company What are the restrictions on NIDHI Company? What are the key points regarding branches? What are the limits against the deposit made for permitting the loans? What are the various returns required to be filed by NIDHI with ROC? NDH-1 (Return of Statutory Compliances) NDH-2 (Application…

Content What is GSTR – 9? What are the types of Annual Return? Liability to file GSTR -9 Annual Return. What includes in GSTR – 9? Difference Between GSTR 9 and GSTR 9C Due date of filing GSTR -9. Penalty for non- filing of GSTR -9 What is GSTR – 9? GSTR- 9 is an…

TDS on cash withdrawals of over Rs 1 crore As per the new section194N of the Income Tax Act,1956 TDS is deducted at the rate of 2% on cash withdrawals exceeding Rs 1 crore in a financial year with effect from 1st July 2020. The main purpose for introduction of this section is to decrease…

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