It’s not unknown to anyone that the gap between the commoners and the megacorps has increased over the years. We have Google threatening to shut down its..
Month: February 2021
Budget 2021 – New Income Tax Slabs for 2022
Individuals and HUF (Option A) and AOP, BOI, AJP On the below tax, surcharge is applicable at following rates, based on total income: (flat rates) Up to..
Budget 2021 – How Tax Assessments have changed
Reduction in the time limit for completing an assessment The time limit for completion of assessment, reassessment and re-computation and for passing an order under section 143..
Budget 2021 – Changes in Income Tax Law
No change in rates of taxation There are no changes in respect of income of all categories of assessee liable to tax for the financial year 2021-22…
Budget 2021 – Changes in Goods and Services Tax
No Input Tax Credit if a supplier has not filed returns Section 16 allows taxpayers’ to claim an input tax credit based on GSTR-2A and 2B. However,..
Budget 2021 – Changes in Customs and Excise
New Agriculture Cess on Petrol and High Speed Diesel Government has introduced a new Agriculture Infrastructure and Development Cess (AIDC) as an additional duty of excise on..
Budget 2021 – Changes in Corporate Laws
Decriminalising LLP Act The Government has announced that it shall now take up Limited Liability Partnership Act and decriminalize its various provisions to remove harsh provisions for..
Key Government Policy Announcements of Budget 2021
Health and Well-being New ‘Prime Minister Atma Nirbhar Swasth Bharat’ scheme with an outlay of INR 64,180 crore over next six years to develop primary, secondary, and..
An insight into the inside story of Budget 2021 – Opinion
Another year and another budget! On February 1, Finance Minister Nirmala Sitharaman presented the budget for the Union Government of India, her third budget presentation or let’s..
Interesting facts about India’s Budget and its unique traditions
There are various traditions attached to the presentation of annual budget ever since the Republic of India presented its first budget in 1950. Let’s go through a..