Category Archives: Taxes & More

Significant Changes in Tax Returns in FY 2017-18

The Modi government is now linking all taxpayers under Income Tax and GST. Details filed in GST returns are also to be reflected in Income Tax Returns. Whatever GST details are given in ITR forms will be cross checked by the Income Tax Department. Hence, taxpayers... read more

Presumptive Taxation Scheme of 44AE

The scheme of section 44AE is designed to give relief to small taxpayers engaged in the business of plying, hiring or leasing of goods carriages. Eligible taxpayer and eligible business for the purpose of the presumptive taxation scheme of section 44AE Every person... read more

Presumptive Taxation Scheme of Section 44ADA

Section 44ADA is the newly inserted section and it will take effect from 1st April, 2017. It will apply in relation to the assessment year 2017- 2018 and subsequent years. For whom is the presumptive taxation scheme of section 44ADA designed? It is designed to give... read more

Presumptive Taxation Scheme of Section 44AD

As per the Income-tax Act, a person engaged in business or profession is required to maintain regular books of account and further, he has to get his accounts audited. To give relief to small taxpayers from this tedious work, the Income-tax Act has framed the... read more

How does a Foreign Entity provide loan to Indian Company?

Brief Guidelines of FEMA with respect to Foreign Loan availability for Indian Corporates, along with restrictions as prescribed by RBI have been laid down below Borrowings in Foreign Exchange   External Commercial Borrowings Trade Credit Particulars Automatic Route... read more

Benami Transactions Act 2016

The Benami Transactions Act, 2016 has recently been passed by the government. Read further to understand the provisions of the act. What is Benami Property? Benami essentially means property without a name.  In this kind of transaction the person who pays for the... read more

The ‘Start up India’ Initiative

India is the fastest growing and Third Largest Startup Ecosystem Globally as per NASSCOM status report 2014 and is set to become a multi billion dollar industry. Hence, it was imperative to develop a conducive environment for inflow of funds coupled with ensuring ease... read more
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