Actual Cost for charging depreciation under Income Tax
HOW TO CALCULATE “ACTUAL COST” FOR THE PURPOSE OF “BLOCK OF ASSETS” Section-43(1) o....
Written Down Value for Income Tax Purposes
For the purpose of ascertaining depreciation under Income Tax Act, it is first necessary to ascertain written....
What is Block of Assets
What is Block of Assets for Income Tax Block of Asset [Section-2(11)] “Block of Assets means a gro....
DEPRECIATION RATES UNDER INCOME TAX ACT (AY 2020-21 & Onwards)
Rates of depreciation as prescribed by the Income Tax Act Blo....
Cost Inflation Index for Long Term Capital Gain
COST INFLATION INDEX Cost Inflation Index (CII) is used to calculate inflation adjusted purchase cost of....
CBDT notifies Cost Inflation Index for Financial Year 2020-21 (AY 2021-22)
S.O. 1879(E).—In exercise of the powers conferred by clause (v) of the Explanation to sec....
DGFT made amendments in Appendix 3 (SCOMET Items) to Schedule-2 of ITC (HS) Classification of Export and Import Items 2018
The Central Government hereby makes the amendment in Appendix 3 (SCOMET Items) to Schedule- 2 of ITC (HS)....
Parotas are not rotis and will attract GST at rate of 18%
A non-finicky eater couldn’t care less if he or she is having rotis or parotas for dinner. After all, th....
Relaxation in GST Late Fees and Interest
In the current situation of Covid-19 pandemic, a welcome decision has been taken by 40TH GST Council Meeting h....
Recommendation of 40th GST Council Meeting
The 40th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nir....