TDS, also known as Tax Deducted at Source is a direct taxation mechanism that facilitates direct tax collection from the source at the time of the income payout. The deducted TDS amount will be remitted to the Central Government. TDS is levied on a number of income avenues such as
With the increased competition in the field of business today, one has to do whatever it takes to survive. Up to the mark strategies, perfect management of resources and continuous expansion are just a few of the many steps involved in the process of developing a successful business. Today, many
In the past 10 years, the online casino industry in India has seen a massive surge in the number of players. This has been brought about by the fact that hundreds of millions of Indians have gotten access to high-speed internet connectivity at relatively affordable costs, allowing them to access
A businessman has two options while taking a loan for his business. Either to opt for long term funding like LAP (Loan against property) or to go for flexible funding like Cash Credit (CC) or Overdraft (OD). Long term funding generally carries a lower rate of interest while flexible funding
Appeal before Appellate Authority Any person who thinks that the order or decision by the adjudicating authority is not as per law then such person can file an appeal to the Appellate Authority. The appeal should be filed within three months of communication of order or decision to such person.
This appeal by assessee is arising out of order of CIT(A)-22, Kolkata vide Appeal No. 102/CIT(A)-22/Kol/14-15 dated 02.11.2015. Assessment was framed by DDIT- 3(1) (IT), Kolkata u/s. 143(3) of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) for Assessment Year 2010-11 vide his order dated 07.02.2013. 2. The only
Brief of the case: The ITAT Lucknow in the case of Sharad Mishra vs. ITO held that the arrival of assessee in India at night cannot be treated as his stay for the complete day. Thus, the actual hours of the day stayed only could be counted as stay in
This appeal by the Assessee is against the orders dt: 18-03-2015 passed by the Commissioner of Income Tax-(Appeals), Kolkata for the assessment year 2009-2010. 2. None appeared on behalf of the Revenue. Therefore, we dispose of the appeal on merit after hearing the Ld. AR of the assessee and perusing
Introduction The Taxation Law (Amendment) Ordinance 2019 introduce Section 115BAA on 20th September 2019 applicable from the financial year 2019-20. Lower Income Tax Rate This section provides an option only to domestic companies to pay income tax at the rate of 22% (plus applicable surcharge and cess) beginning from the
Introduction The Taxation Law (Amendment) Ordinance 2019 introduce Section 115BAB on 20th September 2019 applicable from the financial year 2019-20. Lower Income Tax Rate This section provides an option only to certain new domestic manufacturing companies to pay income tax at the rate of 15% (plus applicable surcharge and cess)beginning
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