Equalisation Levy

Equalisation Levy – CHAPTER VIII IN THE FINANCE ACT, 2016   Introduction : Government vide finance act, 2016 inserted equalisation levy, it is necessary to know that when assessee is required to deduct, what will be the rate of deduction, and what are the other provisions relating to equalisation levy. Further there is also amendment…

Equalisation Levy (Part-2)

EQUALISATION LEVY – CHAPTER VIII IN THE FINANCE ACT, 2016 (PART-2) Introduction : Government vide finance act, 2016 inserted equalisation levy, it is necessary to know that when assessee is required to deduct, what will be the rate of deduction, and what are the other provisions relating to equalisation levy. Further there is also amendment…

Section 195

Analysis of Section 195 of Income Tax Act, 1961.   Introduction : Whenever any payment is made to any non-resident than whether it is subject to TDS or not what will be the rate of deduction and whether there is any exemption from deduction of TDS; all the relevant points has been covered under section…

Income Tax Amendment

Amendments Relating to Income Tax. Introduction : There are several amendments which has been introduced through Finance Bill, 2021; and therefore, every professional and assessee shall know this amendment. In this article we will discuss important amendments introduced through finance bill, 2021. Important points after Finance Bill, 2021:  Change in Audit Provision After the amendment…

GST Amendments

Amendments/Changes in GST After Introduction of Finance Bill, 2021 Introduction : Since its inception GST is prone to changes and amendments, in this finance bill also, there is introduction of some changes and some insertion/deletion/substantial modification in core sections. In this article we will cover all the amendments made in finance bill, 2021 relation to…

AAR Under Income Tax

Introduction : We have seen that their Income Tax Act; is amended every year along with this there are notification/circular/press release which assessee is required to interpret. Sometimes there may be several interpretations of particular law, to avoid any controversy on later stage department has provided assessee with a remedy whereby he can sort Advance…