Government plans to make PAN the business Aadhaar for companies, NGOs After debating since the months, the government is now moving to make Permanent Account Number (PAN) the Aadhaar for business Aadhaar for companies as well as non-government organisations as it looks to close possible gaps for generation of black money. The ministry of corporate […]
Searches surveys under GST by Tax officials In its attempt to bring more companies under the goods and services tax (GST) umbrella, the tax department is planning to conduct Searches surveys under GST across the country.
Cash deposits before demonetization also on government checklist If you thought cash deposits made prior to November 8 last year — when the government announced its demonetization exercise will escape the eagle eye of the tax department, you would be mistaken.
Provision Under Section 44ADA for computing profits and gains of Profession Provision Under Section 44ADA for computation of profit of Profession on Presumptive basis introduced in Finance Act,2016. Many people still unaware of this section and they are declaring their profit below the presumptive basis and their income exceeds the maximum amount not chargeable to […]
Direct Taxes Code can simplify taxation and reduce your tax The Finance Ministry is planning to revamp the direct tax structure. Previous attempts to overhaul direct taxes were not successful named Under Direct Taxes Code . In 2009, the Direct Taxes Code had suggested radical changes, including the removal of many exemptions and generous tax slabs. […]