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UDIN – A Report: ICAI
Unique Document Identification Number (UDIN) – A Landmark Reform Today Chartered Accountants have an important role in our economy. The business organizations, industry and the Government rely upon the certification and assurance given by the Chartered Accountants for sound financial accounting, reporting, and effective financial
The Direct Tax Vivad Se Vishwas Scheme Finance Bill 2020
The Direct Tax Vivad Se Vishwas Scheme Finance Bill 2020 Objective •The intention was to resolve the disputed tax dues filed at all various adjudication levels due to the pendency of appeals at various appellate levels in India. • If an application is filed
Increase in Tax Audit Limit will not have much impact
1) The increase in Tax Audit threshold to Rs 5 Crores from Rs 1 Crores u/s 44 AB will not have much of impact as the GST audit limit is Still Rs. 2 Crores. 2) There is no amendment in Section 44 AD that
COMPARISON OF OLD VS NEW REGIME OF INCOME TAX – Budget 2020
BRIEF The budget was expected to be a path-breaking one, being the first budget of the new decade. However, as has been the case with earlier budgets, it is bound to fall short of middle-class expectations, who will be required to make their choices
Best Analysis of Union Budget – 2020
Bird’s Eye View of Finance Bill, 2020 Old law: A citizen of India or PIO, who is outside India and comes to India on a visit is treated as resident in India if his stay during the PY is 182 days or more. New law: Shall be
Issues on Vivad se Vishwas Scheme by CA Ved Jain
Issues on Vivad se Vishwas Scheme The Finance Minister has introduced Direct Tax Vivad se Vishwas Bill, 2020 in the Parliament for resolution of pending tax disputes. The provisions of the Direct Tax Vivad se Vishwas Bill, 2020 are applicable to settle disputes in
THE DIRECT TAX VIVAD SE VISHWAS BILL, 2020
THE DIRECT TAX VIVAD SE VISHWAS BILL, 2020 1. Short title. This Act may be called the Direct Tax Vivad se Vishwas Act, 2020. 2. Definitions. (1) In this Act, unless the context otherwise requires,— (a)”appellant” means the person or the income-tax authority or both
BUDGET 2020-21-The ` Maya’ jugglery’ for middle class.
BUDGET 2020-21-The ` Maya’ jugglery’ for the middle class. A record-breaking two hours and forty-five minutes of speech bettering her own last year`s record by half an hour by FM was the hight point of the budget this time. However, there were far fewer
OUTPUT OUTCOME FRAMEWORK 2020-21
OUTPUT OUTCOME FRAMEWORK 2020-21 (MAJOR CENTRAL SECTOR & CENTRALLY SPONSORED SCHEMES) Preface Major Expenditure Reforms have been undertaken by the Government over the last few years. This not only includes simplification of appraisal and approval processes, but also structural changes in the process of
Prominent Themes of the Budget
Prominent Themes of the Budget GOVERNANCE FINANCIAL SECTOR Macroeconomic Indicators Tracking Progress in Numbers Budget at a glance Download the copy:
MACRO-ECONOMIC FRAMEWORK STATEMENT 2020-21
MACRO-ECONOMIC FRAMEWORK STATEMENT 2020-21 Overview of the Economy Global headwinds and challenges in the domestic financial sector moderated the growth of the Indian economy in 2019-20. The real GDP growth moderated to 5.0 percent in 2019-20 as compared to 6.8 percent in 2018-19. Despite a
MEDIUM TERM FISCAL POLICY CUM FISCAL POLICY STRATEGY STATEMENT
MEDIUM TERM FISCAL POLICY CUM FISCAL POLICY STRATEGY STATEMENT A. Fiscal Indicators – Rolling Targets 1. 2019-20 has witnessed a moderation in growth rates as mentioned in the Macroeconomic Framework Statement. The Government, faced with the task of implementing counter-cyclical policies while walking the