LAST DATE TO AVAIL TAX DEDUCTION IS 31ST MARCH 2021 FOR FINANCIAL YEAR 2020-21. ACT FAST TO AVAIL FOLLOWING DEDUCTIONS… ➡️ Invest in Mutual fund Equity Linked Savings Scheme (ELSS) for attractive returns along with obtaining deduction under Income Tax up to Rs.1.50 lakhs (80C). ➡️ Insure yourself and your family (spouse and children) through […]
IMPORTANT CHANGES IN THE INCOME TAX ACT FOR CHARITABLE TRUSTS Following CHANGES have been PROPOSED IN THE FINANCE BILL 2021 (UNION BUDGET) FOR CHARITABLE TRUSTS EFFECTIVE FROM 1st APRIL, 2021. ➡️ Charitable Trusts accept donations as “Corpus Donations” which are not considered as an income and hence there is no obligation to spend (application of […]
On which amount TCS shall be collected? TCS is to be levied only on the amount above Rs. 50 lakhs i.e. if Rs. 60 lakhs is received from a single person during the financial year for sale of goods then TCS to be collected on amount of Rs. 10 Lakhs @ 0.075% (i.e. after deducting […]
The provisions of TCS are applicable in three types of transactions under the Income Tax Act. The provisions of TCS will apply to any amount paid, that means the percentage of TCS has to be added to the payment amount. Those who have paid the amount of TCS, can claim credit of TCS against payment […]
Summary of CBDT Notification date June 24, 2020 extending various due dates under Income tax Act. Type of compliance Original Due Date Revised Due Date as per Notification Original Income tax return for AY 2019-20 Non-Corporate Taxpayers July 31, 2019 Corporate Taxpayer – October 31, 2019 Tax payers subject to transfer pricing November 31, 2019 […]
View & Download Our Presentation PDF Do you have minor children in the family ? Understand the law relating to GUARDIANSHIP OF MINOR. There are specific provisions relating to Guardianship under law. Please find herewith a short presentation which gives a complete idea about the provisions who, how and when a person can act as […]
View our PDF FAMILY VAULT Comprehensive Financial Inventory to help individuals and families take charge for their financial information in the event of disability or death. What is the importance & role of a ‘FAMILY VAULT’? We know the importance of preparation of a WILL for legal transfer of assets to our successors. A ‘Family […]
SOME IMPORTANT CHANGES IN THE INCOME TAX ACT PASSED BY THE LOK SABHA AFTER THE BUDGET PRESENTATION. THESE CHANGES SHOULD NOT GO UNNOTICED. બજેટ ના પ્રેઝન્ટેશન બાદ લોકસભા દ્વારા પસાર કરાયેલા આવકવેરા કાયદામાં કેટલાક મહત્વપૂર્ણ ફેરફારો. આ ફેરફારો ને ધ્યાનમાં લેવા જરૂરી છે. We have already shared with you the amendments impacting the taxation for […]
Kothari & Co., now a division of Ashutosh Financial Services Pvt. Ltd., has been working as Tax and Allied Laws Consultants, since more than 55 years. The division provides advisory services on Income Tax, Companies Act, FEMA, Trust Laws and Estate Planning / Inheritance Laws. The division has a team of highly qualified and experienced […]
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