PM SVANidhi stands for Prime Minister Street Vendor’s AtmaNirbhar Nidhi. It is a central sector scheme launched in June 2020. It aims to provide micro-credit facilities to street vendors affected due to COVID-19 pandemic. Full-Form of PM SVANidhi Prime Minister Street Vendor’s Atmanirbhar Nidhi Launch Date 1st June 2020 Under which government ministry? Ministry of […]
Insertion of new sections 108A and 108B In the Customs Act, after section 108, the following sections shall be inserted, namely:— “108A. Obligation to furnish information.— (1) Any person, being— (a) a local authority or other public body or association; or (b) any authority of the State Government responsible for the collection of value
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Leave Travel Allowance is a tax-free allowance employers offer employees as part of their salary component. Under this allowance, the costs incurred by the employee on taking a trip for leisure purposes are allowed as a tax-free expense. Employees can, therefore, take a leave from work and travel on vacation, and the costs incurred would
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Amendment of section 2 In the Customs Act, 1962 (52 of 1962) (hereinafter referred to as the Customs Act), in section 2, in clause (11), after the words “the area of a Customs station”, the words “or a warehouse” shall be inserted. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing
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Short title and commencement 1. (1) This Act may be called the Taxation Laws (Amendment) Act, 2017. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint: Provided that different dates may be appointed for different provisions of this Act and any reference in any such
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Find TDS/ TCS return due dates with the time period and last date for filing for AY 2025-26 (FY 2024-25). TDS stands for tax deduction at source while TCS stands for tax collected at source. As per the Income-tax Act, if any person makes a payment to the receiver, then TDS is required to be deducted at
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Amendment of Part II of First Schedule In the First Schedule of the Finance (No. 2) Act,— (A) in PART II, under the sub-heading “Surcharge on income-tax”, in paragraph (i), in clause (a), with effect from the 1st day of April, 2019,— (i) in sub-clauses I and II, after the words “aggregate of such
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Amendment of Act No. 23 of 2019 In section 2 of the Finance (No. 2) Act, 2019 [hereafter in this Chapter referred to as the Finance (No. 2) Act], in sub-section (9), with effect from the 1st day of April, 2019,— (a) in the second proviso, for the words “First Schedule”, the words, figures
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Money transfers have consistently been a major factor in the development of black money in the Indian economy. The government recently started several initiatives to reduce cash transaction limit and increase digital payments. Throughout this article, we examine the Income Tax Act’s cash transaction as well as the consequences of exceeding the limit. Income Tax
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Amendment of section 115QA In section 115QA of the Income-tax Act, in sub-section (1), the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 5th day of July, 2019, namely:— “Provided that the provisions of this sub-section shall not apply to such buy-back of shares (being the shares
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