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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 the current business environment, businesses are expanding outside the border of countries and becoming global. Many foreign companies are operating in India, and many Indian companies are operating in foreign countries. These companies pay taxes on the same income in more than one country. To provide relief from double taxation, governments are entering the
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Introduction Under the Income-tax Act, penalties are levied for various defaults committed by the taxpayer. Some of the penalties are mandatory and a few are at the discretion of the tax authorities. In this part, you can gain knowledge about the provisions relating to various penalties leviable under the Income-tax Act. As per the Union
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