Tax Audit Limit is one of the least discussed topics, as a result, a lot of people don’t know much on the subject. Even educated entrepreneurs and professionals don’t know much about the mandatory tax audit limits that have been prescribed & applicable to them. As we might already know tax audit limit is different …
by MSAadmin 
There have been major amendments in Income Tax–Finance Act, 2017. To help you understand properly, we have broken it down in this article. RESTRICTION ON CASH TRANSACTIONS SEC 40 A (3) Disallowances of Business expenditures made in cash is reduced from Rs. 20,000 to Rs. 10,000 made to a person per day. Disallowance is extended on capital expenditure …
by MSAadmin 
An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate …
by MSAadmin 
An assessee, being an individual resident in India, whose total income does not exceed Rs. 500,000/-, shall be entitled to a deduction, from the amount of income-tax computed on his Taxable Total Income, ie, after Chapter VIA deduction, an amount of income tax computed or Rs. 12,500/-, whichever is less. Previously for AY 2018-19, the …
by MSAadmin 
Introduction: In pursuance of the Government of India’s efforts to provide relief to law abiding companies in the wake of COVID 19, the Ministry of Corporate Affairs (MCA), has introduced the “Companies Fresh Start Scheme, 2020” to provide opportunity to companies to make good any filing related defaults, irrespective of duration of default, and make a …
by MSAadmin 
Introduction: In addition to “Companies Fresh Start Scheme, 2020” ,the Central Government in exercise of its power u/s 460 of the Companies Act, 2013 (extended to LLPs vide Gazette Notification No. G.S.R. 59(E) dated 30th January, 2020 u/s 67 (2) of the Limited Liability Partnership Act, 2008) has decided to introduce a scheme namely “LLP Settlement Scheme, …
by MSAadmin