blogs Archives | Page 13 of 19

15 May 21

How the income tax department is tracking your income!

Disclaimer: Tax evasion is high in our country, and so is red-tapism. This article is an advisory on how genuine taxpayers can avoid the red-tapism and in no manner, intends to promote tax avoidance, since paying taxes genuinely, is the first step, and in the truest spirit, the smartest way,…

15 May 21

Why India’s Oxygen Supply Chain failed to deliver? Explained

Oxygen – ironically earth’s most freely available resource, and yet short in supply. Hospitals are suddenly running out of medical oxygen and there is more panic amidst the pandemic than ever before because the belief that the doctors and hospitals could save us has been shaken, as people have died…

30 Apr 21

Your right to privacy is their highest selling product

Facebook wants to bring people together. Google wants to make search more friendly. Amazon wants to make available everything at your doorstep. Jio wants everything available under one platform. Newsrooms want to ensure all the best news reach you, sitting at home. Websites and apps want to provide the best…

15 Apr 21

Amount paid for use of software is not ‘Royalty’.

“During the assessment year 1997-98 and 1998-99, several payments were made to foreign parties for the license to use the software. However, no tax has been deducted at source and thus, following section 40(a) these expenses must be disallowed. Therefore, I have reason to believe that income has escaped assessment…

30 Mar 21

Hindu Undivided Family – A uniquely Indian concept and tax savings

India is diverse and unique in many ways. Many of the economic theories and business models fail to hold in India owing to the unique nature of the economy, the country and the citizens. India is deeply influenced by and believes in its traditions passed on from generations to generations.…

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,…

How the income tax department is tracking your income!

Why India’s Oxygen Supply Chain failed to deliver? Explained

Your right to privacy is their highest selling product

Amount paid for use of software is not ‘Royalty’.

Hindu Undivided Family – A uniquely Indian concept and tax savings

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

Greenvissage Explains – November 2024

China’s Economic Stimulus – Is this the return of Dragon?

Trumponomics 2.0 – Should we be excited or frightened?

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