News & Resources
ECommerce & Taxation
Digital Technology (DigiTech) & E-commerce Indian e-commerce and DigiTech industry have been grown to a new height in the past decade. We have seen exponential rise in the way people look at business and the modus operandi of managing a business. From high...
Equalisation Levy on E-Comm Finance Act 2020
Background The Finance Act, 2016 introduced Equalisation Levy with effect from 01-06-2016.This levy is charged at the rate of 6% from the consideration paid or payable to a non-resident person for the online advertisement services. The Finance Bill, 2020, as passed by...
Cryptocurrencies & their taxation
Understanding the Taxation and other related issues related to Bitcoins (Cryptocurrencies) Crypto Currencies are decentralized virtual or digital currencies which are neither issued by any Central Bank nor are backed up by any Government. These currencies are quite...
Crypto Industry 2020
Cryptocurrency Crypto in India has always been something which is not understood by majority masses. India having one of the largest economy in the world, would always fear something which has a potential to replace the fiat currency primarily because it does not have...
Compliance under Rule 114F to 114H of Income
Compliance under Rule 114F to 114H of Income-tax Rules, 1962 for due to enactment of FATCA and CRS Income-tax Rules, 1962 were amended vide Notification No. 62 of 2015 dated 7th August, 2015 by inserting Rules 114F to 114H and Form 61B to provide a legal basis for the...
Compliance requirements Rule 114B to 114D, Rule 114DB and Rule 114E
This write up has been taken up in three parts:- PART I. Rule 114B – Transactions in relation to which permanent account number is to be quoted in all documents for the purpose of clause (c) of sub-section (5) of section 139A Rule 114C – Verification of Permanent...
TAR Update AY 2018-19
Amendments to the format of Tax Audit Report (Form 3CD) In order to get various amendments made to Income-tax Act, 1961 (‘the Act’) and other laws (indirect taxes) within the format of tax audit report (TAR), the Central Board of Direct Taxes (CBDT) issued a...