18 Nov 2020

Getting LTC in Salary but cannot travel due to COVID -19: Government announces Tax Benefit

By Admin
Category Miscellaneous
Views 541

Before the widespread COVID-19 pandemic, many employees planned vacation trips with the benefit of Leave Travel Allowance (LTA). But now, owing to the harmful effects of illness caused by the coronavirus, the employees who had leave travel concession as an component in their salary structure may not be able to avail the tax exemption shortly even in the near future.

09 Nov 2020

NRI Income Tax Return Filing

By Admin
Category International Taxation
Views 458

NRIs will have to pay income tax on the income that they have earned in India. NRIs will also require to pay their taxes on the income that is predicted to accrue or arise within India. The money that is received or deemed to be accepted is legally taxable in India.

09 Nov 2020

INCOME TAX AUDIT

By Admin
Category Audit and Assurance
Views 639

Before getting into tax audit and its details, it is quite essential to understand the term ‘audit’. The word “audit” means that it is a licence to officially inspect a particular organisation’s official accounts and produce a report based on an independent body. One can also term audit as a systematic review or an assessment of something in general.

03 Nov 2020

GIST OF THE NOTIFICATIONS

By Admin
Category Goods and Service Tax
Views 378

The CG on the recommendation of GST Council has made several changes through various notifications dated 15^th October, 2020.

03 Nov 2020

FACELESS ASSESSMENT UNDER INCOME TAX

By Admin
Category Income Tax
Views 327

The Section 143(3A)/(3B)/(3C) of Income Tax Act, 1961 vest power in Central Government to make a scheme by notification to assess to impart greater efficiency, transparency and accountability. This Scheme can cover the assessment under Section 143(3) or Section 144 of the Income Tax Act, 1961.