by CA Chinmay Shirish Agate | May 22, 2021 | SMEs, Taxation, TDS
1. Eligible assessee – Any assesse i.e. Company or non – corporates 2. Quantum of deduction – Deduction @ 15% of the actual cost of the new asset installed. 3. Condition of setting up new undertaking – Assessee should set up an undertaking for...
by CA Chinmay Shirish Agate | May 22, 2021 | SMEs, Taxation
Income Tax The new Direct Tax regime proposed by our finance minister Smt. Nirmal Sitaraman is an optional scheme. However, a few taxpayers may not be able to switch back to the existing tax slab once they opt to follow the new one. As per the insertion of new section...
by CA Chinmay Shirish Agate | May 22, 2021 | GST, SMEs, Taxation
Every business organization is engaged in finalizing books of accounts and preparation of Balance Sheet for each financial year. It becomes important to understand the legal provisions under GST law while finalizing books of accounts and preparation of Balance Sheet....
by CA Chinmay Shirish Agate | May 22, 2021 | SMEs, Taxation
The new Direct Tax regime proposed in Budget 2020 is an option to continue existing or choosing the new tax regime. There may be confusion as to which regime is more beneficial than other. Under the old tax regime, the salaried individuals can continue paying taxes,...
by CA Chinmay Shirish Agate | May 22, 2021 | SMEs, Taxation
The Finance Bill, 2020 has brought a major amendment to section 44AB of the income tax act. After insertion of such changes, Tax Audit limit has been increased from Rs 1 crore to 5 crores provided the taxpayer has Cash receipts which is not more than 5% of...
by CA Chinmay Shirish Agate | Mar 25, 2021 | SMEs, Taxation
Any organization, small or big may have several business processes that may require lot of manual efforts and workforce. This calls for paying out hefty salaries and other employee benefits. The software developers have come up with handy solutions for this...
Recent Comments