FAQs on New Income Tax Regime u/s.115BAC

What is new Income tax Slab for AY 2020-21? -> Under existing regime the taxpayers (Individuals and HUF) were taxed @20% with taxable income in the range of Rs 5 lakh to Rs 10 lakh....

25 Latest Income Tax Judgements In India

The year 2019 has been a very significant one to the taxation regime as the government has introduced various revolutionary changes in the laws and rules and regulations. The contribution of the...

8 Income Tax Judgements and Cases on Previous Demonetisation

PM Narendra Modi may have shocked the nation with his 8 PM, 8 Nov 2016 announcement , but the Prime Minister’s move was not a step which was not known or never done before. India has...

What is New Income Tax Slab for AY 2020-21 in India?

The FM has announced New Income Tax Slab for AY 2020-21 giving taxpayers an option to pay taxes as per the new tax slabs. Income Tax Slab for A.Y 2020-21 and 2021-22 for Individuals/HUF New...

What Are the Best Indian Stocks to Buy in 2020?

Let’s starts with an example. {Don’t be sentimental, please take it as an example only} When my grandfather went to the market to buy something, most of the FMCG products were available from Hindustan Unilever....

RCM under GST applies to remuneration to employee director u/s 194J and not u/s 192 – Clarifies CBIC!

Introduction Under the current GST Law, remuneration given to a Director (by whatever name given) is a taxable service chargeable under Reverse Charge Mechanism (‘RCM’) for levy of GST1. On the other hand, an employee performing his...

Loophole in GST refund application on Portal

Rule 89(4) In the case of zero-rated supply of goods or services or both without payment of tax under bond or letter of undertaking in accordance with the provisions of sub-section (3) of section 16 of...

Form 26AS : Now more than just taxes paid history of the Assessee!!

“Question: Hey! What is your Tax History? Are you compliant and paying Income tax properly?? Tax Payers (before): I do pay taxes regularly, but I need to check with my accountant whether there are any defaults with...

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