In a clarification issued by the Central Board of Direct taxes, a tax holiday has been extended to only those startups with a turnover of INR 25 crore.? What has happened? Startups in India have the potential to provide a large number of jobs to the youths and also improve the nation’s technological edge in ..
CBDT: GK, Current Affairs, Questions, Trivia and News
To promote the startup culture in India, the Finance Ministry has made provisions for improving the start-up ecosystem by easing some financial norms.? What has happened? The Finance Ministry has simplified the entire process of assessment for the start-up entities in India. The nodal authorities for these changes are the CBDT.? Primarily, the new norms ..
There were several reports in the social media that a few taxpayers were facing issues in filing the returns. What had happened? Unverified reports in the social media claimed that the large scale changes were made in the Income-tax Return (ITR) forms including ITR-2 and ITR-3. Apparently, it was claimed that this created problems in ..
The Preliminary Report of the Standing Committee on Finance was tabled in the Parliament. The report titled Status of Unaccounted Income/Wealth Both Inside and Outside the Country A Critical Analysis makes the following observations: The committee s report was based on the findings of the three studies conducted by National Institute of Public Finance and ..