Category: Uncategorized
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Prohibit Charitable Trusts to Accumulate Incomes u/s 11(2) of I T Act 1961 or transfer surplus unspent incomes to PM CARES Fund
At present, Charitable Trusts registered with the Income Tax Department are allowed to accumulate a portion of unspent Incomes u/s 11(2) of the Income Tax Act, 1961 without payment of Income Tax.…
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The wealthy are like sheep : You can fleece them many times but skin them only once
Ex Chief Economic Advisor, Arvind Subramanian in an Interview to The Economic Times published 16 April 2020 suggested the re-Introduction of Wealth Tax and I quote :”The government should consider…
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TDS ON CASH WITHDRAWLS
The Finance Bill, 2019 has introduced Section 194N in the Income Tax Act 1961 to provide for TDS @2% on cash withdrawls exceeding 1 crore from one or more bank…
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A suggestion : MRP Based GST Compensation Cess
I have a suggestion that can increase the GST Compensation Cess collected by Union Government as well as reduce the compliance burden of GST Compensation Cess on small and marginal…
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FINTECH & LAW 2 : RBIs MTSS
Fintech – the portmanteau of the words “Finance” and “Technology” is the buzzword in Finance and Technology worlds with a large number of newage startups disrupting legacy businesses of established…
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Presumption of Guilt vs Presumption of Innocence
India is a signatory to UN Universal Declaration of Human Rights on 10 December, 1948. Article 11 Clause 1 of the aforesaid Universal Declaration of Human Rights states that :…
CA Nirmal Ghorawat's Blog 