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After giving investors and entrepreneurs relief from angel tax, the government now wants to encourage startups and is examining regulatory issues, including taxation, which need to be eased. With the commerce and industrial ministry taking steps to support budding entrepreneurs, government considers exempting investors from tax on capital gains accrued while exiting a startup so
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The residential status under Income Tax law plays a vital role while considering taxation of certain incomes of an Individual. It is not related to citizenship of a country. The residential status of a person is required to be determined for each assessment year in order to ascertain the scope of his total income. The
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ESOP refers to an option given to employees of a company to purchase shares of the company, in return of his dedicated services to the company, at a future date at a pre-determined price. Employees have to wait for a certain duration before they can exercise the right to purchase the shares. This duration is
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Paying taxes and filing tax returns go hand in hand. There has been an increase in the number of tax notices sent by authorities in the recent years. The rise is not necessarily due to lack of paying taxes or filing returns, but because the tax authorities are now equipped with an integrated database on
Know MoreWhat Is Power Of Attorney? A Power of Attorney is a legal document by which one person gives the right to perform or powers of transacting in matters relating to property, banking, legal and judicial proceedings, tax payments, etc, to another person due to certain reasons like being out of country, or getting old, or
Know MoreValue Added Tax or VAT is a mandatory requirement for all kinds of business. Proprietorships, partnerships, private limited companies, manufacturing firms and even traders of any kind of products need VAT registration. VAT is similar to Central Service Tax (CST) and Taxpayer Identification Number (TIN). They use the same 11 digit number. What is VAT?
Know MoreA tax is a financial charge or other levy imposed upon a taxpayer (an individual or legal entity) by a state or administrative division. Failure to pay tax is punishable by law.Tax is not a voluntary payment or donation.It is a contribution imposed by government, state or administrative division to enable them to meet the
Know MoreConstruction Service / Works Contract- Residential Apartments Impact of Larsen & Toubro [ K.Raheja] Judgment.
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