Penalty for failure to furnish in return of income, an information or furnish inaccurate particulars about an asset (including financial interest in any entity) located outside India If any person, being a resident other than not ordinarily resident in India within the meaning of clause (6) of section 6 of the Income-tax Act, who has […]
Penalty for failure to furnish return in relation to foreign income and asset If a person, being a resident other than not ordinarily resident in India within the meaning of clause (6) of section 6 of the Income-tax Act, who is required to furnish a return of his income for any previous year, as required
Penalty in relation to undisclosed foreign income and asset The Assessing Officer may direct that in a case where tax has been computed under section 10 in respect of undisclosed foreign income and asset, the assessee shall pay by way of penalty, in addition to tax, if any, payable by him, a sum equal to
A special economic zone (SEZ) is an area in a country that is designed to generate positive economic growth. An SEZ is normally subject to different and more favorable economic regulations compared to other regions in the same country, including tax incentives and the opportunity to pay lower tariffs. SEZ economic regulations tend to be conducive to—and attract—foreign direct investment
Among the low-risk investment tools with moderate and assured returns, Recurring Deposit (RD) is a popular investment option in India. It comes with an option of flexibility for customers in the choice of investment amount and tenure accompanied by multiple other benefits. Available in flexible tenure options ranging from 6 months to 10 years, this investment tool
The scheme “Dr. Savitaben Ambedkar Inter Caste Marriage Assistance Scheme” is implemented by the Director Scheduled Caste Welfare, Department of Social Justice & Empowerment, Government of Gujarat. The scheme has been implemented as part of social empowerment by addressing inequality through marriages between individuals from Scheduled Castes of Hinduism and those from castes other than
Revenue mapping is an essential pre-requisite for tracking the revenue contributed by all your campaigns and journeys. It’s a simple one-time setup that helps you draw a correlation between certain user actions (prompted by a campaign) and your business’s revenue. What is revenue mapping? Revenue mapping is a technique to identify revenue-generating opportunities in your business.
Dynamic economic landscape, the need for accessible and inclusive financial services is more important than ever. Nidhi Companies have emerged as a unique solution, containing the spirit of community-driven financial growth. These specialized Non-Banking Financial Companies (NBFCs) operate under the purview of the Companies Act 2013, with a primary focus on fostering a culture of
Rajasthan government has planned a new scheme called Rajasthan Ghar Ghar Aushadhi Yojana to promote the use of Ayurvedic and medicinal herbs across the state. The state government is planning to implement the scheme to boost the immunity and defense system of the citizens of the state. Under this Rajasthan Ghar Ghar Aushadhi Yojana, medicinal
In a world full of dismay, something’s will always brighten up the day: the milkshake. Nothing can cheer a person up like the perfect creamy frothiness of a thick milkshake. Indians have adopted these heavily garnished drinks and given them a home. Frozen Bottle, one of India’s trendiest milkshake brands and it is an ever-growing
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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