As per Notification No. 01/2022 – Central Tax Dated 24th February, 2022 issued by CBIC, E- Invoice is mandatory for assesee if turnover exceeds 20 crore w.e.f 01st April 2022. Existing limit for mandatory E-Invoice…
Wipro Ltd. v. DCIT – Dated 09.02.2022 (ITAT Bangalore) Wipro not liable for TDS under section 195 on sums paid for installation of IVRS equipment & AMC; Follows De Beers ruling Bangalore ITAT rules in…
Capital Gains Account Scheme was introduced in 1988. Capital Gains Account Scheme allow taxpayer to depositing unutilised capital gains in ‘Capital Gains Account’ introduced under Capital Gains Account Scheme. Capital gain invested in Capital Gains…
Annual Information Statement (AIS) is a statement of financial transactions furnished to it by various entities in respect a taxpayer collated by the tax department based on the PAN. The newly launched Annual Information Statement…
What is TAN? TAN is Tax Deduction and Collection Account Number. It is a 10-digit alphanumeric number. This number has to be attained by people who are accountable for “Deducting tax at source or Collecting…
Annual Information Statement (AIS) is a statement of financial transactions furnished to it by various entities in respect a taxpayer collated by the tax department based on the PAN. The newly launched Annual Information Statement…
Finance Minister, Smt Nirmala Sitharaman, has announced the introduction of Digital Rupee to be issued by the Reserve Bank of India starting 2022-23 while presenting the Union Budget 2022-23 in the Parliament. The Reserve Bank…
Tax Rates In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person Individuals- Other than senior and super senior citizen Net…