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After section 80P of the Income Tax Act, 1961 (Income Tax Act) section 80PA is inserted with effect from 1 April 2019. Section 80PA of the Income Tax Act, 1961 was authorized to encourage producer companies to market and process agricultural produce. It focuses on deducting some of the income…

The Budget of the Government of India is an important document that details all the expenditure, revenue collection and development plans of the government for the current financial year. Every year, the budget is presented by the Finance Minister in the Parliament of India and provides the basis for allocating…

Last weekend, I went to most populous yet most exciting state of India, i.e. Uttar Pradesh, where I see most of people were engaged in their day to day activities. That time I realize that the state of Uttar Pradesh has the significant potential to become the great Industrial hub…

The Finance Act 2022 instituted section 115BBH and it is applicable from AY 2023-24. The section provides that income from the transfer of Virtual Digital Assets (VDA) will be taxable at the rate of 30 percent. The taxpayer cannot claim a deduction for expenses other than acquisition costs. In this…

The Finance Act 2022 introduced section 194R which deals with the deduction of tax on benefits or emoluments to businesses or professions. Businesses, companies or entities often extend various kinds of perks and benefits to their distributors, distribution partners, agents, or salespeople to motivate and encourage them to support further…

Are you also interested in learning how to incorporate a One Person Company in Rajasthan? Great, you've come to the right place. Our Legal Window experts have done their best to make this complicated procedure as simple as possible for you, so let's get started. One Person Company (OPC) registration…

The Global Minimum Tax (GMT) applies a standard minimum tax rate worldwide to a defined corporate income base. The OECD has drawn up a proposal stating a minimum corporate tax of 15% on the foreign profits of large multinationals, which would bring countries $150 billion in new annual tax revenue.…

The real estate sector plays an important role in fulfilling the need and demand for housing and infrastructure in the country. Builders and promoters have different responsibilities under RERA. All builders and promoters who are undertaking a real estate project with more than 8 units or 500 square meters of…

Regulation of the payment of directors' compensation is important for a number of reasons, chief among them the need to stop company money from being used for personal gain and excessively large executive incentives. The rules of the Companies Act, of 1956 and the Listing Agreement's standards for corporate governance…

The Employees' Provident Funds and Miscellaneous Act, 1952's principal programme is EPF. EPF is funded by 12% of the employee's base pay and dearness allowance from both the employee and employer. The interest rate on EPF deposits is now 8.10% p.a. A statutory benefit available to workers in India is the…