Taxation of Apartment Owners’ Association (AOA)
The purpose of writing this blog is to take advantage of the Doctrine of Mutuality for the purpose of computation of Income Tax by Apartment Owners’ Association which is overlooked by many . The concept of mutuality, (ie. one person cannot make income for himself) is very much relevant in the taxation of Apartment Owners’ […]
Atma Nirbhar Bharat Abhiyan Scheme
The Finance Minister of India, Smt. Nirmala Sitharaman has recently announced Aatmanirbhar Bharat Abhiyaan. As per this scheme the Government has broadened the definition of MSMEs; Particulars Investment Limit Turnover Limit Micro Enterprises 1Cr 5Cr Small Enterprises 10Cr 50Cr Medium Enterprises 20Cr 100Cr As per this scheme; The due date of all Income Tax […]
Important Due Dates
TDS under section 194 M
A new section 194M has been introduced with effect from September 1, 2019, in respect of payment made to any resident in a financial year for an amount exceeding Rs 50, 00,000. This section is applicable whether the payment has been made for personal use or for business use. Who is it applicable for […]
One more reason to turn your business into corporate-style – Huge tax benefits for domestic companies
[vc_row][vc_column][vc_column_text]You might be pursuing your business in multiple forms, may be as a sole proprietorship, partnership, company or any other form of entity. You must have chosen such convenient form of business considering the ease of operations, liability to owners, etc. While selecting an appropriate form of business, income tax rates may not have been […]