Scoops Ice Cream is a popular ice cream chain that offers a variety of ice cream flavors, sundaes, shakes, and other frozen desserts. The brand is known for its unique flavors, high-quality ingredients, and a wide range of options that cater to different tastes and dietary preferences.Ice-cream is known to be a seasonal product with […]
Section 80EE is a tax benefit provided under the Income Tax Act, which allows deductions of up to Rs. 50,000 annually on the interest paid to buy your first home. The Section was introduced earlier for FY 2013-14 and FY 2014-2015 with overall deductions of up to Rs. 1 lakh. In FY 2016-17, Section 80EE
Reverse charge mechanism (RCM) under GST refers to the situation where the liability to pay tax for the supply of goods or services shifts from the supplier to the recipient, particularly in specific cases involving purchases from unregistered dealers. This mechanism aims to broaden tax collection, especially in unorganised sectors, and covers certain services imports.
The Kisan Kaleva Scheme, initiated by the Rajasthan Government’s Agriculture Department, provides food at concessional rates through coupons to farmers and their assistants selling crops in vegetable market premises. Registered farmers and their assistants can avail a plate of food for ₹5/- under this provision. This initiative aims to alleviate the financial burden on farmers
Amendment of section 112 In section 112 of the Income-tax Act, in sub-section (1), for the clauses (a), (b), (c), (d) and the first proviso, the following shall be substituted and shall be deemed to have been substituted with effect from the 23rd day of July, 2024, namely:— “(a) in the case of an
Amendment of section 111A In section 111A of the Income-tax Act, in sub-section (1), with effect from 23rd day of July, 2024,— (a) for the long line occurring before the first proviso, the following shall be substituted and shall be deemed to have been substituted with effect from the 23rd day of July, 2024,
Amendment of section 94B In section 94B of the Income-tax Act, with effect from the 1st day of April, 2025,— (a) in sub-section (3), after the words “banking or insurance”, the words “or a Finance Company located in any International Financial Services Centre,” shall be inserted; (b) in sub-section (5), after clause (iii),
Amendment of section 92CA In section 92CA of the Income-tax Act, with effect from the 1st day of April, 2025,— (a) in sub-section (2A),— (i) for the words and bracket “any other international transaction [other than an international transaction]”, the words and bracket “any other international transaction or specified domestic transaction [other than
Amendment of section 80G In section 80G of the Income-tax Act,— (a) in sub-section (2), in clause (a), in sub-clause (iiihg), for the words “the National Sports Fund to be set up”, the words “the National Sports Development Fund set up” shall be substituted with effect from the 1st day of April, 2025; (b)
Amendment of section 80CCD In section 80CCD of the Income-tax Act, in sub-section (2), the following proviso shall be inserted with effect from the 1st day of April, 2025, namely:— ‘Provided that where the total income of the assessee is chargeable to tax under sub-section (1A) of section 115BAC, the provisions of sub-section (2) shall have
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