SECTION 54EC OF INCOME TAX ACT INTRODUCTION:- The provision under Section 54EC of the Income Tax Act states that if taxpayers invest the proceeds from the sale of any long-term asset into specified assets (bonds) within six months of the sale, they are eligible to claim an exemption from long-term capital gains tax. However, this … Read more
1. Introduction Businesses run by families are a prevalent norm in the country. For the continuous longevity of the family business, it is often fruitful to do succession planning, to avoid disputes and conflicts amongst various family members. Consequently, an effective succession planning process ensures that the allocation of assets and properties is in consonance … Read more
Introduction The Industrial Policy of 1991 introduced the scheme of LPG, i.e. Liberalisation, Privatisation, and Globalisation. Since then, India has grown manifold in terms of overseas Investment. Furthermore, it has diversified its financial reach in terms of both geography and industrial makeup. According to the Ministry of Economic Affairs, Government of India, the market for … Read more
Introduction Presumptive Taxation was introduced in 2016 to be applicable from the Financial Year 2016-17. This scheme was introduced to give relief to professionals from maintaining books of accounts and getting them audited which is a headache for them. Further, the Presumptive Taxation scheme was incorporated under Sections 44AD, 44ADA, and 44AE of the Income … Read more
Introduction Section 115BBA provides the tax rates at which income of non-resident sportspersons, sports organizations, etc., who/which is not a citizen of India would be charged and tax would be collected in advance at the time of payment. It also covers the applicability of income tax on income received or receivable by non-resident and non-national … Read more
Introduction to Section 115BA of the Income Tax Act, 1961:- Section 115BA of the Income Tax Act 1961, deals with various tax rates which are applicable to manufacturing companies in India. Section 115BA is first introduced in the Finance Act, of 2016. The main purpose of Section 115BA is to reduce the burden of the … Read more
INCOME TAX E-FILING: An Introduction The Income Tax Act, 1961 governs the act to levy, manage, collect, and reclaim Income Tax in India. Individuals and corporations are required to file Income Tax Returns (ITR) each year in accordance with the Income Tax Act of 1961. A document known as an Income Tax Return discloses the … Read more
Introduction Tax Registration is necessary under the UAE Corporate Tax Law for implications of corporate tax to be levied on entities. The Ministry of Finance, UAE has issued a decision underlining certain specific entities that do not have to register for Corporate Tax and are exempted. Exemption from Tax Registration under UAE Corporate Tax Law … Read more
INTRODUCTION Section 54F of the Income Tax Act provides relief to taxpayers who have earned long-term capital gains on the sale of an asset (like a piece of land, trademarks, vehicles, machinery, patents, and jewelry) and have invested the profits from such sale into the purchase or construction of a new residential property. This section … Read more
Our charges for the professional services for Form 10F and No PE Declaration or Form 10F Online, PAN, No PE Declaration are as given as under. Further, you can add the amount to be paid in the payment column with your email ID and we shall contact you for the next steps too. Additionally, you … Read more