The date of commencement of the Black Money Act, 2015 has been changed from 1-April-2015 to 1-July-2015
Basics of the Black Money Law
a) Like any other country, India has a sovereign right to levy tax on income in terms of aspect / nexus theory with India.
b) It has been codified by the Income Tax Act, 1961 and to be specific, section 4, 5, 6 and 9 of the Act.
c) It is a […]
In a run up to Finance Act, 2015, the finance bill, 2015 has been amended on various counts and one of them is an amendment in definition of Income by inserting clause (xviii) in section 2(24), which read as under:-
“assistance in the form of subsidy or grant or cash incentive or duty drawback or […]
Highlights of New Proposed Goods & Service Tax (GST)
1. The basic principal governing behind GST is to have single Taxation System for Goods and Services across the country. Currently Indian economy has various taxes on Goods and services such as VAT, Service Tax, Excise, Entertainment Tax, Luxury Tax Etc. now in the new Proposal of […]
High-speed internet to be ‘core utility’ as Digital India gets Cabinet nod: Business Standard Each Indian citizen will also get a unique ‘cradle to grave’ digital identity The Cabinet on Wednesday approved a blueprint for the Digital India programme, which envisages all government services be delivered electronically by 2018. It also seeks to provide unique identities to all citizens.
The programme aims […]
Ladies and Gentlemen,
RTGS new timing – 8 am to 8 pm.
Financial and Legal Doctor
S. A. Limaye & Co.