Finance Act 2021
Attached is the copy of Finance Act 2021 as approved by both houses and received accent of the President.
Complete guide for E-Commerce companies on applicability of Equalisation Levy post Finance Act, 2021
Applicability In order to analyse the applicability of the Equalisation Levy, it is first necessary to understand the scope of the levy on ecommerce. As per Section 163(3), the levy shall apply to consideration received or receivable for e-commerce supply or services made or provided or facilitated on or after the 1st day of April, […]
Production Linked Incentive – an engine to fuel Industrial Revolution 4.0 in India
The government of India has announced in 2019 that it will come with the production linked incentive scheme for manufacturing sector to make India a global hub for manufacturing. Although, the idea of the government was hit by COVID-19 pandemic last year however, the government is now ready to introduce it now. With PLI scheme […]
Budget 2021 – A Gamechanger for The Post Pandemic India
[2021] 123 taxmann.com 459 (Article) Date of Publishing: January 29, 2021 India is currently witnessing one of the strongest support from the complete globe which is evident from the fact that the SENSEX reaching mount 50K representing strong investors confidence in Indian economy. India is a global hub for medicine manufacturer and is right now feeding the global demand […]
Faceless Assessment – A gamechanger in Income tax litigation!
Challenges faced by taxpayer Bulky submission and documentation to be prepared and submitted to tax authorities Liaising with the jurisdictional assessing officer Differences of opinions with the tax authorities while making representations Presenting skilled arguments to resolve the tax matters or issues Our Offerings Assistance in communicating with National eAssessment Centre ( NeAC) Reviewing the past year returns for assessing and preparing the representation to be […]
Gujarat High Court orders government to consider extension of ITR due date till 31.03.2021
The Gujarat HC has instructed the Indian Government to consider and take appropriate steps for extending the due date for filing Tax Return to 31 March 2021 relying upon the important observation that the due date extension for Income tax department for all proceedings was already extended till 31 March 2021.
Cabinet approves PLI Scheme (10 Key Sectors) & Financial support to PPP in Infrastructure
Today, the Union Cabinet has passed the production linked incentive (PLI) for 10 key critical industry sectors. The total budget outlay of the incentive is INR 145980 Crores to be spent over a period of 5 years. Out of the total outlay over one-third outlay is planned for Automobile sector which will definitely give more […]
GST Notifications – 11.10.2020
Notification No. 81/2020 In exercise of the powers conferred by clause (b) of sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government hereby appoints the 10th day of November, 2020, as the date on which the provisions of section 97 of the said Act shall come […]
Aatmanirbhar Bharat Package 3.0
The Finance Minister today unveiled the Atmanirbhar Bharat Package 3.0 to provide financial stimulus to the struggling economy. The package consist of 12 proposals as below:- Sr. No. Particulars Announcement Impact on Economy 1 Atmanirbhar Bharat Rozgar Yojna – Government to contribute the total EPF contribution (employee and employer share) for new employees or employee […]