Finance Bill 2021 A Crisp Analysis of Tax Provisions by Blue Consulting
Slump sale” definition widened No deduction of employee’s contribution for the delay in deposit Goodwill is not an asset Royalty & FTS excluded from Digital Tax TDS on purchase of goods introduced Board of Advance Ruling (BAR) replaces Authority of... Read More →
Finance Bill 2020 A Crisp Analysis of Tax Provisions by Blue
Highlights: 1. Time period and turnover limit increased to claim 100% exemption for start-ups 2. TDS rate on technical services reduced 3. Introduction of TDS on E-commerce transactions 4. Tightening of residency provisions 5. Dividend distribution tax in the hands... Read More →
Finance Bill 2019 A Crisp Analysis of Tax Provisions by Blue
Reduced corporate income tax rate of 25% extended to companies up to a turnover of Rs. 400 crore. Buy back of shares by listed companies will also attract an additional tax of 20% TDS coverage increased on certain amounts related... Read More →
Supreme Court Judgement- Whitepaper on coverage of allowances for PF calculation
It’s impact is going to be severe where the establishments (employers) are not deducting the PF contribution on allowances like conveyance allowance, medical allowance, education allowance, special allowance etc. which are usually given to all employees. However, it may not... Read More →
Interim Finance Bill 2019: A crisp analysis of Income Tax Provisions
Taxable Income up to Rs. 5 lacs made tax free. Standard deduction limit raised to Rs. 50,000. Annual value of the second self occupied house to be taken as Nil. TDS limit on rent increased from Rs. 180,000 to Rs.... Read More →
Finance Bill 2018: A crisp analysis of Income Tax Provisions
Concessional corporate tax of 25% extended to companies whose annual turnover is up to Rs. 250 crore. Dividend Distribution Tax to be applicable on Deemed Dividend. Standard deduction of Rs. 40,000 introduced against salary income. Definition of “business connection” widened.... Read More →
Export related issues under GST
Since the introduction of GST, there has been hue and cry among exporters related to GST. The exporters have complained about huge blockage of their working capital in the GST regime. GST Council has rolled out some relief measures for... Read More →
All You Want To Know About GST Council
GST Council is the apex decision body under the GST Law. All the decisions in GST council are required to be taken with 3/4th of majority but till now all the decisions have been taken unanimously which is an amazing... Read More →
4 major GST provisions which have been deferred by the GST Council
Since the introduction of GST, the IT portal is experiencing significant challenges which has left a bad taste in the mouth of all the tax payers. GST Council has been on the back foot due to the mounting pressure of... Read More →
Anti-profiteering provisions under GST
Anti-profiteering is an important provision under the GST law which requires a registered tax payer to pass on the benefit to it’s customer which has resulted due to reduction in tax rate or benefit of input tax credit. Government has... Read More →