TCS on Luxury Goods – New Categories Notified

TCS on Luxury Goods – New Categories Notified

Income Tax provides for tax collection at source (TCS) by certain persons at a specified percentage of tax from their buyers on specified transactions. For e.g. TCS...
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Section 269ST and the Supreme Court’s Mandate: Strengthening the Digital Economy and Transparency

Section 269ST and the Supreme Court’s Mandate: Strengthening the Digital Economy and Transparency

Promotion of a digital economy is an integral part of the current Government’s strategy to clean the system and weed...
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Presumptive taxation applicable on Income earned by Partner from firm?

Presumptive taxation applicable on Income earned by Partner from firm?

As per section 44AA of the Income-tax Act, 1961 ("Act"), a person engaged in business or profession is required to...
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COMPOUNDING OF CONTRAVENTIONS UNDER FEMA, 1999

COMPOUNDING OF CONTRAVENTIONS UNDER FEMA, 1999

The Foreign Exchange Management Act, 1999 (FEMA) governs all transactions involving foreign exchange in India, regardless of whether they are...
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