‘Capital Gains’ can be defined as the profits or gains arising from the transfer of capital assets. These are chargeable as the income of the financial year in which the sale or transfer takes place. [...]
I. Foreign Persons Operating or Investing in a U.S. Business or U.S. Real Property Through a U.S. Subsidiary 1. Reduction of the U.S. federal corporate income tax rate from 35 percent to 21 percent Starting in 2018, U.S. corporations are subject to U.S. federal corporate income tax of 21 [...]
Understanding Sections 206 Section 206 compliance of the Finance Act, 2021 The Finance Act, 2021, has inserted two new Sections 206AB and 206CCA, with effect from 01-07-2021. These sections provide for deduction or collection of tax at a higher rate in the case an assessee has not filed a tax [...]
The Finance Act, 2021, has inserted two new Sections 206AB and 206CCA, with effect from 01-07-2021. These sections provide for deduction or collection of tax at a higher rate in the case an assessee has not filed a tax return. CBDT has issued a new functionality on the income tax [...]
Sold a house recently for a profit? After some joy and relief, you would be worried about paying taxes. If the gains are long-term — property was held for over two years — there are three ways to avoid paying capital gain taxes. [...]
Indian Finance Minister made several announcements for the corporate sector. The minister announced cuts in corporation tax among a series of announcements. Here are a few highlights [...]
Primarily, a PE requires a fixed place of business within the geographical boundaries of the country of sales. Modern technology has made it possible for many companies to do business in several countries without PE. Phrases like “Borderless world” and “Modern technology defies Geography” have become reality for E-Commerce. But [...]
I. Foreign Persons Operating or Investing in a U.S. Business or U.S. Real Property Through a U.S. Subsidiary 1. Reduction of the U.S. federal corporate income tax rate from 35 percent to 21 percent Starting in 2018, U.S. corporations are subject to U.S. federal corporate income tax of 21 [...]
Deposits up to Rs. 2,50,000 have not been given any blanket tax-free status. Only such deposits will not be reported to the Income-tax Department by banks/post offices. The Law At Present: The regular threshold exemption limit for individuals (other than resident senior citizens and super-senior citizens) is Rs. 2,50,000. If [...]
Introduction 1. Every organization is very eager to know the impact on his business on account of levy of GST. The impact can be divided into two parts namely; Financial Procedural Financial Impact of GSTThe financial impact arises on account of subsuming of tax into GST and the availability of credit [...]