Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies following virtual digital assets which shall be excluded from the definition of virtual digital asset:

1. Gift card or vouchers, being a

This form is a Statement to be furnished to the Assessing Officer/Prescribed Authority under clause (a) of the Explanation 3 to the third proviso to clause (23C) of section 10 or under clause (a) of sub-section (2) of section 11 of the Income-tax Act, 1961.

In the said notification, after the sixth proviso, the following proviso shall be inserted, namely: — “Provided also that the amount of late fee payable under section 47 of the said Act shall stand waived which is in excess of two hundred and fifty rupees and sh

Income tax department has issued notices to approx. 8000 taxpayers on account of making large donations to charitable trust, which are suspected to evade payment of tax.

Tax officials say that these individual

The GST Law has been described as below

(1) Every registered person shall, subject to such conditions and restrictions as may be prescribed and

Form of statement to be furnished by producers of cinematograph films or persons engaged in the specified activity.

The statement required to be furnished under section 285B by a person carrying on the production of a cinematograph film or engaged in a specified activity, or both shall be i

The Ministry of Corporate Affairs had vide Gazette Notification in 2021 amended the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021.

What is a One Person Company?

One Person Company (OPC) means a Company which has only one person as its member. An OPC is effectively a company that has only one shareholder as its member. It is tot

Introduction

A convertible debt is a debt security that can be converted into an equity at a later date. It is a hybrid financial product that combines the f

What is MSME?

MSME is the acronym of micro, small, and medium enterprises. In today’s world, MSME is the foundation of any economy especially of a developing