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Charitable And Private Trusts Overview, Benefits And Income Tax Implications
IntroductionIn today's world, the trusts or institutions are being widely set up for the charitable purposes and imparting education among the poor. But lesser are known the facts about the taxability and registration of the trust or institution. This newsletter is...
Articles
Comparison Between Trust, Society and Section 8 Company
Governing Law, Taxation and Compliances
7 reasons you haven’t received your income tax refun
ITR processed or not The income tax return filed by an assesse needs to be verified by the assesse and the same should be then processed by the department. Income tax refunds are issued once the return is duly processed by CPC. Verification: The return filed by the...
Payment of Wages During Lockdown- Frequently Asked Questions
Whether an employer is liable to pay wages for the period of lockdown due to COVID- 19?The Home Secretary, Ministry of Home Affairs, Government of India vide Order No. 40-3/2020-DM-I(A) 1 dated 29.03.2020, directed the State/ Union Territories Authorities to take...
Updates
USA relaxes income tax Residency rules for Individuals and Businesses affected by Travel Disruptions arising from Covid-19 Emergency India awaits such tax Residency relaxation
BackgroundThe COVID-19 Emergency has affected the travel plans of various foreign travellers who intended to leave the United States. Regardless of whether they were infected with the COVID-19 virus, individuals have become severely restricted in their movements,...
Summary of key announcements by reserve bank of India 17th April, 2020
RBI has taken following measures to (i) maintain adequate liquidity in the system and its constituents in the face of COVID-19 related dislocations; (ii) facilitate and incentivise bank credit flows; (iii) ease financial stress; and (iv) enable the normal functioning...
PM, FM, RBI, SEBI, Government Announcements & Update Fight Against COVID 19
Sequence of Events Janata Curfew – 14 Hrs – on Sunday 22nd March Monday and Tuesday also most states observed Locked Down or Curfew based on local administration or State Government Orders 21 Day – LockDown from Midnight of 24th March – i.e. from 25th March 2020 to...