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Analysis of Section 115BAB – An opportunity or a challenge

Analysis of Section 115BAB – An opportunity or a challenge

IntroductionDuring the month of September 2019, our Finance Minister Mrs N. Sitharaman gifted the Indian Industrial sector a much-awaited tax rate slash making Indian industry more competitive around the world. With the Taxation (Amendment) Ordinance Act 2019 the...

Taxability of Salary Allowances and Deductions

Taxability of Salary Allowances and Deductions

IntroductionAs the new financial year i.e. FY 2020-2021 is going to start, there is in mind of every salaried individual about their tax planning and where to invest to reduce the tax liability efficiently. Most of the taxpayer in India regularly have following most...

Articles

7 reasons you haven’t received your income tax refun

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

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

Summary of key announcements by reserve bank of India 17th April, 2020

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...