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Double Taxation Avoidance Agreement

A DTAA is a TAX treaty signed between two or more countries.Treaty- A tax treaty is a bilateral agreement made by two countries to resolve issues involving double taxation on income. Agreement generally determine the amount of tax that a country can apply to a taxpayer's income, [...]

Section 80EE – Deduction on Interest on Home Loan

Deduction under section 80EE can be claimed by first-time home buyers for the amount they pay as interest on home loan. Taxpayer can claim a deduction of up to Rs. 50,000 per FY as per Section 80EE.This deduction can be claimed over and above the deduction of Section 24 which is [...]

DIR-3 KYC and its compliance on Ministry of Corporate Affairs with clarification:

"Director Identification Number" (DIN) means an identification number allotted by the Central Government to any individual, intending to be appointed as director or to any existing director of a company, for the purpose of his identification as a director of a company:Provided fu[...]

Export Promotion Schemes

Exports From India SchemesIn order to encourage exports in India the Government provides certain benefits to exports to offset infrastructural inefficiencies and associated costs. These benefits are provided to both service providers and export of goods.There are two schemes to a[...]

Vital Changes in ITR-1 and ITR-2 for FY 2018-19

The ITR forms have undergone some changes when compared to previous year ITR forms as notified by the government. These changes were made keeping in mind the changes made in income tax laws and Budget 2018 for FY 2018-19 and onwards. Here are nine changes in ITR forms 1 and 2 tha[...]

Section 80D and 80DD of Income Tax Act, 1961

Section 80D of Income Tax Act, 1961.This section is related to Deduction from income for Medical insurance premium paid and Preventive health check up taken. Section 80D ApplicabilityOnly Individual or HUF can claim deduction under Section 80D.1. Medical InsuranceM[...]

Key Takeaways From the Union Budget 2019

The Government of India presented one of the most awaited budgets in recent times to the parliament on July 5, 2019. The budget, presented by the Finance Minister Nirmala Sitharaman, outlined the government’s plan to boost the economy and spur growth with several incentives for[...]

Slump Sale

IntroductionAs per section 2(42C) of Income -tax Act 1961, 'slump sale' means the transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to the individual assets and liabilities in such salesComputation of Capital G[...]

Prohibition on Acceptance of Deposits From Public and Penal Provisions

Prohibition on acceptance of deposits from public:Section 73. (1) On and after the commencement of this Act, no company shall invite, accept or renew deposits under this Act from the public except in a manner provided under this Chapter:Provided that nothing in this sub-section s[...]

Real Estate Regulation and Development (RERA) Act 2016

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 inter[...]


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