Section 206AB of the Income Tax Act, 1961:Applicability w.e.f. 01-07-2021
The Finance Act 2021 has introduced a new section called Section 206AB of the Income Tax Act 1961, which mandates the person paying the amount to...
Articles
-
-
Capital Gain Tax on Unlisted Equity Shares
Transfer of Equity Shares of Unlisted Company- Capital Gains Perspective Applicability of Section 50CA: In case of sale of Unlisted Equity Shares, first thing we...
-
What is Form 16 ?
Under the Income Tax Rules, Form 16 is the certificate of deduction of tax at source and issued on deduction of tax by the employer...
-
Gift given by HUF to its Member is Considered as Income of Member?
Any person receives Gift from any other person, would be consider as income of the recipient as per section 56(2)(x) with certain exemptions. Section 56(2)(x)...
-
Conversion of Company into LLP
The following won’t be recognized as ‘transfer’, and hence, no capital gain to be arise on the same: -Any transfer of a capital asset or...
-
New Income Tax E-Filing Portal to be launched from June 7: Check Out New Features
The income tax department will launch a new e-filing portal on June 7, 2021, in order to provide a hassle-free and comfortable experience to taxpayers....
-
-
Rates of Depreciation as Per Income Tax Act, 1961
Article provides Rates of Depreciation as per Income Tax Act, 1961 on Building, Plant & Machinery, Furniture & Fittings, Ships & on Intangibles Assets i.e. ...
-
Govt. extends Validity of FCRA Registration Certificates up to Sep 30, 2021 [Read Circular]
The Ministry of Home Affairs has notified the extension of Validity of Registration Certificates issued under the Foreign Contribution (Regulation) Act, (FCRA) 2010 Expiring/Expired during...
-
Taxation of derivatives and shares in India – Trading in future & options, intraday and stock held for short term and long term by an individual
As per the Indian income tax regulations, purchase of shares made with the objective of earning profit is considered as a business activity, whereas purchase...