Market UpdatesMay 31, 20212 min readHere are new income tax rates for FY 2020-21! and their effects on taxpayersIncome tax levied on Individual taxpayers on the basis of slab system. Slab system means different tax rates are prescribed for...
Market UpdatesMay 29, 20211 min readITR Filing dates extended for AY 2021-22: Here are new dates for ITR filingIncome tax department (IT department) recently extended the dates of filing returns for the year 2020-2021 due to covid-19. New dates for...
Market UpdatesMay 27, 20212 min readDocuments that you should have, otherwise have to pay tax on giftsOne of the most common modes of transfer of property and money is by way of a gift. A gift can be a transfer of movable or immovable...
Market UpdatesMay 25, 20211 min readHow to get Aadhaar Card online through UIDAI website or mAadhaar appIf your Aadhaar card is lost or misplaced then, getting an Aadhaar card has become very easy through UIDAI website or mAadhaar app. The...
Market UpdatesMay 23, 20212 min readKnow the tax implications on gains made on stocksFor those who are just starting on stock market investments or have been at it for some time but are only now facing the burden of...
Market UpdatesMay 11, 20212 min readHow to register yourself on income tax e-filing websiteTo file your ITR, you have to register yourself on the Income Tax department's e-filing website. The process of registrations is quite...
Market UpdatesMay 10, 20213 min readCorrections of mistakes while filing ITR (Income Tax Return)At the time of filing our Income Tax Return (ITR), sometime it may happen that we make a mistake while filing our ITR at last minute....
Market UpdatesMay 4, 20213 min readNOTIONAL SALE CONSIDERATION (DEEMED)[Section 45(1A)] Insurance claim received on damage or destruction of capital assets Where any person receive any money or other...
Market UpdatesMay 2, 20213 min readAbdul Karim Telgi Scam, 2003Abdul Karim Telgi was born in Khanpur, Karnataka. His father was an employee working for Indian Railways, who died when Telgi was a...
Market UpdatesApr 30, 20212 min readSuccess story of Bewakoof.comBewakoof is the fashion e-commerce startup that offers a trendy collection of apparels. Prabhkiran Singh and Siddharth Munot launched...
Market UpdatesApr 29, 20214 min readAPPOINTMENT, ROTATION, RE-APPOINTMENT & REMOVAL OF DIRECTORSAppointment of Directors Every director shall be appointed by the company in general meeting, Every person to be appointed as director is...
Market UpdatesApr 28, 20212 min readDIRECTOR IDENTIFICATION NUMBER (DIN)Any Individual, who propose to be appointed as a director of a company shall make an application electronically in DIR-3 to Central...
Market UpdatesApr 26, 20216 min readTYPES OF DIRECTORSDIRECTORS AS PER COMPANIES ACT, 2013 [Section 2(34)] Director means a director appointed to the Board of a company. [Section 2(10)] ...
Market UpdatesApr 20, 20212 min readCompanies with Charitable Objects (Section 8)Under section 8, a licence given by central government to a company, formed for non-profit motive. Procedure for incorporating a...
Market UpdatesApr 18, 20212 min readIncorporation of a company [Section 7(1)] There shall be filed with the registrar within whose jurisdiction, registered office of the company proposed to be...
Market UpdatesApr 17, 20212 min readSection 80TT of Income Tax Act (Deductions)[Section 80TTA] Interest on Deposit in Saving Account Applicable to an Individual (other than senior citizen covered under section...
Market UpdatesApr 15, 20213 min readSection 80G (Deductions) of Income Tax Act, 1961 [Section 80G] Donation to Certain funds Applicable to all assessee Following conditions must be fulfilled: (a) Assessee must donate to...
Market UpdatesApr 13, 20212 min readSection 80E of Income Tax Act, 1961 (Deductions)[Section 80E] Repayment of loan for Higher Education Applicable to an Individual. Following are the conditions, that must be...
Market UpdatesApr 7, 20213 min readTypes of Companies as per Companies Act, 2013As per section 2 of Companies Act, 2013, companies are of various types. Companies are classified as follows: [Section 2(68)] Private...
Market UpdatesApr 6, 20215 min readCLUBBING OF INCOME[Section-60] Transfer of income without transfer of assets (i) If any person transfer any income from any assets without transferring...
