by Sinewave Team | May 23, 2021 | SMEs, Taxation
Section 80TTA 1. Eligibility: Deduction u/s 80TTA is available to an assessee, other than the assesse referred to in Section80TTB, being an individual or HUF.2. Deduction is allowed from the following incomes:a. Interest earned from savings account with a bankb....
by Sinewave Team | May 22, 2021 | SMEs, Taxation, TDS
1. Any person, being an individual or a Hindu Undivided Family, responsible for paying any sum to a resident, for carrying out any work under any contract or by way of fees for professional services rendered during the financial year.2. Provided that no such deduction...
by Sinewave Team | May 22, 2021 | SMEs, Taxation
1. Section 2(13A) – Definition of Business Trust: Business Trust means a trust registered as, i) An Infrastructure Investment Trust under the SEBI regulations, 2014; orii) A Real Estate Investment Trust under the SEBI regulations, 2014, and the units of...
by Sinewave Team | May 22, 2021 | SMEs, Taxation
1. Non-Resident Indian means an individual being a citizen of India or a person of Indian origin who is not a resident.2. Foreign Exchange Asset means any specified asset which the assesse has acquired or purchased with or subscribed to in convertible foreign...
by Sinewave Team | May 22, 2021 | SMEs, Taxation
1. Section 2(42C): Definition of Slump Sale: Transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to the individual assets and liabilities in such sales. 2. Section 50B: Special provision...
by Sinewave Team | May 22, 2021 | SMEs, Taxation
1.Eligible assesse – All assesse engaged in the business of growing and manufacturing tea, coffee or rubber in India. 2.Quantum of deduction – Lower of the following a. Amount deposited in NABARD or deposit accountb. 40% of PGBP of such business before...
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