Budget 2021

1.      Relief to senior citizen: for 75 years and above: Having only pension and interest income: exemption from filing ITR: Paying banks will do TDS 2.      Reassessment: from 6 years to 3 years Serious tax evasion cases: where evasion evidence is Rs.50lac or more then reopening within 10 years- 3.      Dispute resolution committee: it will be faceless:  anyone with total income less than 50 lacs and disputed

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Presumptive Taxation Scheme for Goods Carriage

Presumptive Taxation Scheme for Goods Carriage

Section 44AE is as follows: (1) Notwithstanding anything to the contrary contained in sections 28 to 43C, in the case of an assessee, who owns not more than ten goods carriages at any time during the previous year and who is engaged in the business of plying, hiring or leasing such goods carriages, the income of such business chargeable to tax under the head

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GST returns and Form 26AS in your ITR

What is Form 26AS? Every individual or company that has deducted taxes must credit that amount to the government via banks. Form 26AS is an annual consolidated tax statement generated by the Income Tax Department. It can easily be accessed from the income-tax website by all taxpayers using their Permanent Account Number (PAN). A Form 26AS contains the amount of the tax deducted at source (TDS)

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Foreign LLP : Setting Up Business in India

Foreign LLP : Setting Up Business in India

Establishing Business As per Section 2(m) of the Limited Liability Partnership Act, a foreign LLP is a limited liability partnership formed, incorporated or registered outside India; which establishes a place of business in India. A foreign LLP shall establish a place of business in India by filing Form 27; enlisting there in, the details regarding incorporation of LLP, details of designated partners and partners,

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Procedure for Foreign Company Registration in India

India is a fast developing country with a lot of opportunities for not only Indians but also a foreign citizen. Due to globalization and the efforts of P.M Narendra Modi like make in India initiative is an encouraging step for investors to invest their money in India. So today we guide to you on the How Foreign Company can Start the business in India

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