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Tax on Distribution of assets to partners

Tax on the Distribution of assets to partners

My firm recently went through dissolution and I am not sure about the liability of the assets finally distributed. While wondering about such…
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Deduction 80PA of Income Tax Act, 1961

Deduction 80PA of Income Tax Act, 1961: An Overview

After section 80P of the Income Tax Act, 1961 (Income Tax Act) section 80PA is inserted with effect from 1 April 2019. Section…
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Section 194R of the Income Tax Act, 1961

Guide to new TDS Section 194R of the Income Tax Act

The Finance Act 2022 introduced section 194R which deals with the deduction of tax on benefits or emoluments to businesses or professions. Businesses,…
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Global minimum tax under BEPS

Global minimum tax under BEPS

The Global Minimum Tax (GMT) applies a standard minimum tax rate worldwide to a defined corporate income base. The OECD has drawn up…
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