Most of the new ITR form changes are consequential to the amendments made by the Finance Act, 2020 to the Income-tax Act. Further, the ITR-1 shall not be available to a taxpayer in whose case the tax has been deducted [Read More]
Jul 032021
Jul 012021
Due dates for the Month of July 2021 7th INCOME TAX – TDS Payment for June. 10th GST – Return of authorities deducting tax at source – GSTR 7 for June. – Details of supplies effected through e-commerce operator and [Read More]
Jun 292021
The existing process for approving institutions u./s 80G Section 80G allows a deduction for the donation made to certain funds and institutions. The deduction for such donation is allowed to the donor only if donee (receiving end) fund or institution [Read More]
Jun 272021
Based on PRESS RELEASE, DATED 1-5-2021 In view of the adverse circumstances arising due to the severe Covid-19 pandemic and also in view of the several requests received from taxpayers, tax consultants & other stakeholders from across the country, requesting [Read More]
Jun 252021
Meaning – Bitcoin mining process Bitcoin mining refers to the process whereby verified bitcoin transaction records are added to a blockchain. Bitcoin miners validate all transactions involving Bitcoins and thereby, add blocks to the blockchain system. Bitcoin miners have to [Read More]
Jun 232021
Most of the new ITR form changes are consequential to the amendments made by the Finance Act, 2020 to the Income-tax Act. We have scrutinized the new ITR Forms and have identified the key changes in new ITR forms viz-a-viz [Read More]
Jun 212021
The role of government is inevitable in today’s business environment. The government affects the manner of doing business by controlling and ensuring the process of business is good for society. Here is the list of government approvals required on the [Read More]
Jun 142021
Who is minor? Section 3 of the majority act provides that – “ Every person domiciled in India shall attain the age of majority on his completing the age of eighteen years and not before.” In computing the age of [Read More]
Jun 122021
Between corporate form of business and other: The advantage of the corporate form of business over traditional business is that it discriminates the executive wing from the investor of the fund. The corporate form of business is more flexible, transparent, [Read More]
Jun 102021
Corporatization of business: The conversion of a traditional form of business into neo corporate form is commonly known as corporatization. The concept of the corporate form of business can be explained as below: Point Traditional business Cooperate form of business [Read More]