Blog | Page 17 of 22 | GreenVissage

15 Mar 21

Accountability – How Governments make and break pinky promises, while you pay interest and penalties!

Memory is important – whether it’s your laptop, mobile or yourself, especially the last one, because you can easily buy and upgrade the other two. Voters have a fickle memory and governments benefit the most from it. Old memories get erased slowly and steadily as and when new incidents happen…

25 Feb 21

Wallstreet vs Reddit: How some geeks brought barons to their knees

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 services in Australia if the new laws which allow news media to ask for a revenue share from the search engine’s business. It’s…

24 Feb 21

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 50 lakh – Nil, 50 lakh to 1 crore – 10%, above 1 crore – 15% Individuals and HUF (Option B) and AOP,…

24 Feb 21

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 or 144 commonly referred as ‘Scrutiny assessment’ was earlier 33 months from the end of the relevant financial year, which was curtailed to…

24 Feb 21

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. The rates of income shall continue to be the same as applicable for the financial year 2020-21. Similarly, the rates for advance tax,…

24 Feb 21

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, a new clause (aa) has been inserted in the aforesaid section, adding one more condition to claim of ITC. Henceforth, ITC on invoices…

24 Feb 21

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 Petrol and High-speed diesel. The purpose of this cess is to finance the improvement of agriculture infrastructure and other development expenditure. Do note…

23 Feb 21

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 minor offences and enhance ease of doing business. Earlier, the Government had taken up the Companies Act for decriminalizing and the same has…

22 Feb 21

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 tertiary health care systems Intensified strategy to improve nutritional outcomes across 112 aspirational districts under Mission Poshan 2.0 Jaljeevan mission for universal supply…

21 Feb 21

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 say three and a half, as the COVID-19 relief package which spread over five press conferences, should be counted as one half. Budget…

Accountability – How Governments make and break pinky promises, while you pay interest and penalties!

Wallstreet vs Reddit: How some geeks brought barons to their knees

Budget 2021 – New Income Tax Slabs for 2022

Budget 2021 – How Tax Assessments have changed

Budget 2021 – Changes in Income Tax Law

Budget 2021 – Changes in Goods and Services Tax

Budget 2021 – Changes in Customs and Excise

Budget 2021 – Changes in Corporate Laws

Key Government Policy Announcements of Budget 2021

An insight into the inside story of Budget 2021 – Opinion

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