Advance Tax isn’t applicable to senior citizen with no income from business/profession

As per section 208 every person whose estimated tax liability for the year exceeds Rs. 10,000, shall pay his tax in advance in the form...

A guide to depreciation rates for AY 2021-22

Depreciation is allowed as a deduction under section 32 of the Income Tax Act, 1961. In the computation of taxable income, the depreciation rate...

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Rule 33A: MCA inserts New Rule for allotment of new name to Existing Company

First Notification MCA vide notification dated 22nd July, 2021 has commenced the provisions of Section 4 of Companies (Amendment) Act, 2020 which shall come into...

A Brief Insight into the procedure of Initial Public Offering (IPO) in India.

With the current rainfall of IPOs by the companies in the Indian markets during current month or rather from last quarter, it will not...

A brief insight into G7 ‘s proposal for a Global Minimum Tax Rate for Corporations

What is G7 ? The Group of 7 (G7) is an informal group of seven countries — the United States, Canada, France, Germany, Italy, Japan and...

Why Trademarks are important in today’s business world?

In today’s modern world, consumers are inundated and continuously exposed to trademarks in everyday life. Consider the terms Band-aid, Jacuzzi, Super-glue, Pampers, and Chapstick,...

43rd GST Council Meeting Updates and Relaxations

Customs duty and GST exemptions on relief materials: Indian Customs duties comprise of Basic Customs Duties (BCD) and Customs duties equivalent to Integrated Goods and...

New MSME Udyam Registration Process and all you need to know

The government has organized a system to facilitate the registration of MSMEs. An enterprise for this process will be known as Udyam and its...

Issues on the New Income Tax Portal 2.0

The new Income Tax Website was launched on the 7th of June at 8:45 PM replacing the old income tax website. The new website was...

Due Date Calendar for June’2021

A) Due dates for Compliance under Income Tax 7 June 2021 - Due date for deposit of Tax deducted/collected for the month of May, 2021....

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