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A new tax planning comes into force by inserting a new section in Income Tax Act, 1961, which is known as Section 115BAC of Income Tax Act, 1961. The main characteristic of this new tax system issued by the Income Tax Department is that it has lower tax rates than…

The Limited Liability Partnership (Amendment) Rules, 2022 have been published by the government. Further, Rules 5, 18, 19, and 37 have been amended. Moreover, new regulations are introduced regarding the allotment of a new name to an existing LLP under Section 17 (3), the adjudication of penalties, the appeal against…

Are you in a confusing state and not able to make up your mind, whether to file ITR, Or did you hear elsewhere that if your income is less than the basic exemption amount, you should forego submitting your Income Tax Return? Before you decide not to submit your ITR,…

You'll need one thing for each of these activities, whether you're trying to buy a car or a house, participate in the stock market, or convert your Indian rupees to foreign currency. You may wonder how these two have a connection. The PAN card is the solution. Let us discuss…

Foreign Direct Investment (FDI) seems to have been a significant non-debt financial resource towards India's national economy, especially in addition to being such a crucial driving force behind economic. Attracting investment in India primarily benefit from lower salaries and unique structural reforms such as lower taxes, among other things. Moreover…

Some employees on the payroll of group firms (including management and non-management cadre) work for the Parent company. We can recover the cost of such personnel from the Parent firm by raising a debit note on an actual cost basis. Let us discuss TDS Implication on Reimbursement of Employees in…

The Reserve Bank of India will process in the Legal Entity Identifier (LEI) system for all investors in the currency financial derivatives, foreign exchange derivative instruments, and structured finance over-the-counter growth in India. So due to the severe recession, the LEI code is design as a primary parameter to enhance…

The Internal Revenue Service has given taxpayers with a number of Claim Deduction for Rent Paid Under Section 80GG of Income Tax Act by which they can reduce their taxable income and hence their tax payments. However, there are various deductions that taxpayers are aware of and can take advantage…

Introduction In today's society, Trademark infringement is widespread. People in all walks are adopting a Trademark that is deceptively similar to somebody else's trademark. With the increase in trade and economy, as well as the aging process, diverse intellectual property (IP) issues occur. Either of these difficulties is the labeling…

All About the Annual Information Statement (AIS) - Income Tax Department initiates a new function and makes an update in Form 26AS, this update in Form 26AS which provides extensive information is called the Annual Information Statement (AIS). It is a type of extensive view of information that shows information…