TDS on purchase of goods under Section 194Q of Income Tax Act. As Applicable from 1st July, 2021. As per provisions of section 194Q of the Income Tax Act, TDS is deductible if- The buyer is responsible for making payment of a sum to the resident seller; and Such payment is to be done for the […]
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Startup India Seed Fund Scheme Starting from April 2021
Startup India Seed Fund Scheme (SISFS) has been approved for the period of next four years starting from 2021-22. It will be implemented with effect from 1st April 2021. The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. Rs. 945 Crore corpus will be […]
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Income Tax Rate for FY 2021-2022 Budget 2021
Rate of tax for Individuals As per Budget 2021 no changes has been made in slabs of individuals. Below is the applicable slab rates as per Budget 2021 for FY 2021-22. For Individuals of age upto 60 years If the individual opts for new tax regime then has to pay tax as per the below […]
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Budget 2021 Two Major changes for salaried
Two changes for salaried in Budget 2021 Finance Minister Nirmala Sitharaman proposed many new measures in the Budget 2021 to prop up the declining economy amid the Covid-19 pandemic and boost spending across sectors. Budget 2021 focused on the seven pillars for reviving the economy – Health and Wellbeing, Physical and Financial Capital and Infrastructure, […]
