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Backdrop To foster employment in India, the Hon’ble Government of India has introduced section 80JJAA of the Income-tax Act, 1961 (‘the Act’). The provision has been mainly introduced to encourage employment through deductions for hirers. Hence, the section shall incentivize both job seekers and job creators. From the income-tax front, the section has been subjected
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In order to overcome tax evasion measures adopted by taxpayers, Indian Income Tax laws provide for deduction of tax on income of any person or on sum payable to any person at the time of credit or at the time of payment at the rates in force under provisions of Income Tax Act, the concept
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Introduction TDS under section 194R was introduced in the Union Budget 2022, and it was made effective from 1st July 2022. Section 194R was introduced to avoid tax evasion in case of income received in the form of any perks or other non-monetary benefits from the business or profession. Before this section was introduced people
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Introduction: The government has taken steps in transforming its judicial system by going completely faceless and using e-proceedings. Faceless e-proceedings started off as a pilot-based email assessment but has now gone completely faceless. Even the first appellate proceedings as well penalty proceedings have gone faceless with notices and orders being received on a daily basis.
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Introduction Where Compensation is received at the time of voluntary retirement or in case of separation, the income received as compensation is exempt from tax if the following conditions are satisfied- Compensation is required to be received on voluntary retirement or voluntary separation. Compensation is received by an employee from the following undertakings- an authority
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