Retirement Benefits and Tax Liabilities

ACCOUNTING & TAXITION Retirement Benefits and Tax Liabilities: Retired life begins with liquidation of retirement benefits such as Provident Fund, Gratuity, Leave Encashment, Superannuation Fund & Pension. These retirement benefits, which have been built over decades of discipline savings are meant for enjoying post retired life without any financial worries. A person on the verge Read More →

finance act 2020, taxation

ACCOUNTING & TAXATION Finance Act 2020 Analysis of International Taxation related amendments World Moving Towards Multilateral Instrument (MLI) Intending to eliminate double taxation with respect to the taxes covered by this agreement without creating opportunities for non-taxation or reduced taxation through tax evasion or avoidance (including through treaty-shopping arrangements aimed at obtaining reliefs provided in Read More →


ACCOUNTING AND TAXATION: Article explains Taxation of Partnership Firms /LLP which includes Income Tax Rate applicable, Provisions related to Interest and Remuneration to Partners/Designated Partners, Conditions for assessment as a firm, Partners’ assessments, Losses of the firm, Due dates for filing return of firm, Allowability of remuneration and interest vis-a-vis presumptive taxation, Due dates for filing return Read More →

accounting, taxation

ACCOUNTING & TAXATION Measures related to various Statutory & Compliance Matters- Covid-19 Update on Relief measures announced on 24th March, 20 by Finance Minister relating to various Statutory and Compliance Matters across Sectors – Covid-19 outbreak The Corona Virus (Covid-19) outbreak has not only impacted lives of general citizens, it has also severely impacted the Read More →

accounting and taxation

  ACCOUNTING & TAXATION 14 Tax-saving investment options beyond Section 80C limit:   Most people are aware of claiming tax deduction of Rs 1.5 lakh under Section 80C of the Income Tax Act, 1961. Now let’s take a look at the tax-saving options other than Section 80C to turn you into a smart tax saver. Most Read More →

Accounting & Taxation Purpose: Needed, GST, not another alphabet soup   The Cabinet Committee on Economic Affairs (CCEA) approved last week a new Remission of Duties or Taxes on Export Products (RoDTEP) scheme that will reimburse central and state taxes, duties and cess on petroleum products and electricity and levies other than the goods and Read More →

accounting ands taxation

ACCOUNTING & TAXATION A Preliminary Framework for Product Impact-Weighted Accounts: Although there is growing interest in environmental, social, and governance measurement, the impact of company operations is emphasized over product use. A framework like this one that captures a product’s reach, accessibility, quality, optionality, environmental use emissions, and end of life recyclability allows for a Read More →

Provisions for Taxation of Partnership Firms Partnership firm is subjected to taxation under the Income Tax Act,1961. It is the umbrella Act for all the matters relating to income tax and empowers the Central Board of Direct Taxes (CBDT) to formulate rules (The Income Tax Rules,1962) for implementing the provisions of the Act. The CBDT Read More →