Category Archives: Direct Tax

Taxability of E-commerce Transactions

With the expansion of information and communication technology, the supply and procurement of digital goods and services have undergone exponential expansion everywhere, including India. Today is the Era of E-commerce which is significantly growing faster than the global economy as … Continue reading

Posted in Direct Tax, Taxation |

Note on Changes made in Finance Act, 2020 as compared to Finance Bill, 2020

A. Amendments to Sec.206C (Tax collection at Source) regarding LRS, Tour Package and Sale of goods In the Finance Bill, 2020 it was proposed to insert sub-section (1G) to section 206C of the Act to provide for collection of tax … Continue reading

Posted in Direct Tax |

Some Due Dates Not Extended & Some Relaxation Not Granted vide Press Release dated 24.03.2020

Some due dates that do not appear to be extended and some relaxations that do not appear to have been granted by Ministry of Finance vide Press Release Dated 24-03-2020 have been summarized in the attached pdf. Points Not covered … Continue reading

Posted in Direct Tax, GST, Regulatory |

Key Highlights on Tax and Regulatory Matters proposed by Hon’ble Finance Minister of India Smt. Nirmala Sitharaman on 24th March 2020.

Key highlights of the announcements pertaining to relief in certain tax and regulatory compliances proposed by Hon’ble FM Finance Minister of India Smt. Nirmala Sitharaman vide her address to nation dated 24th March, 2020 are summarised in the attached pdf. … Continue reading

Posted in Direct Tax, GST, Regulatory |

Central Board of Direct Taxes (CBDT) Issues Clarification On The Applicability Of TDS Provisions On Mutual Fund Dividend

Central Board of Direct Taxes vide Press Release dated 4th February, 2020 has clarified that under section 194K (proposed to be inserted vide Finance Bill, 2020), a Mutual fund shall be required to deduct TDS@10% only on dividend payment and … Continue reading

Posted in Direct Tax |