Budget 2021 was projected as “Budget Like Never Before” creating a lot of expectations in tax benefits for tax payers. While there is not much changes in the tax codes, it is a great budget as it paves a way for establishing a trusting relationship between investors and tax payers. The […]
Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval on 13th March 2020 for introducing the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP). The Indian Government has come up […]
2020 has been an unusual year in everyone’s life affecting us both emotionally and financially. As 2020 is coming to an end, I analyzed it to understand how the year profoundly affected our financial life – businesses, finances, cash flow, income, expenses, savings, investments, insurance, families, and other aspects of our […]
Attestation of Prospective or Provisional Financial statements/ Information – Is it allowed? (a) Attestation of Prospective Financial Statements /Information? As per clause (3) of part-I of Second Schedule to the Chartered Accountants Act, 1949, a member in practice will be deemed to be guilty of professional misconduct if he engages in estimation […]
From October 1, 2020, foreign remittance under LRS (Liberalized Remittance Scheme) or payment for any foreign tour package will attract TCS (Tax Collected on Source) @ 5%. When income tax department found that out of 5,026 selected cases of foreign remittance, 1,807 did not file returns, they decided to plug the gap […]
On April 23, late evening, Franklin India Mutual Fund shut down 6 debt mutual fund schemes. No financial transaction – Purchase, SIP, STP, SWP, or Redemption would be allowed after April 23, 2020 1:00 pm cut off time. These schemes are: Franklin India Ultra Short Bond Fund, Franklin India Short Term […]
IRS Form 1065 – U.S. Return for Partnership A partnership must be an association of two or more taxpayers with the objective of making a profit. A business operated as a partnership is not recognized as a taxable entity under the income tax laws. Instead, the partner divides the income and […]
Sed facilisis lorem in orci bibendum ullamcorper. Mauris vitae augue elementum, sodales nulla a, semper ligula. Nullam vel enim risus. Integer rhoncus hendrerit sem egestas porttitor. Integer et mi sed dolor eleifend pretium quis ut velit. Nam sit amet arcu feugiat, consequat orci at, ultrices magna
Sed facilisis lorem in orci bibendum ullamcorper. Mauris vitae augue elementum, sodales nulla a, semper ligula. Nullam vel enim risus. Integer rhoncus hendrerit sem egestas porttitor. Integer et mi sed dolor eleifend pretium quis ut velit. Nam sit amet arcu feugiat, consequat orci at, ultrices magna
Sed facilisis lorem in orci bibendum ullamcorper. Mauris vitae augue elementum, sodales nulla a, semper ligula. Nullam vel enim risus. Integer rhoncus hendrerit sem egestas porttitor. Integer et mi sed dolor eleifend pretium quis ut velit. Nam sit amet arcu feugiat, consequat orci at, ultrices magna