Pinky Promise

Accountability – How Governments make and break pinky promises, while you pay interest and penalties!

Memory is important – whether it’s your laptop, mobile or yourself, especially the last one, because you can easily buy and upgrade the other two. Voters have a fickle memory and governments benefit the most from it. Old memories get erased…
Hindu Undivided Family

Hindu Undivided Family - A uniquely Indian concept and tax savings

India is diverse and unique in many ways. Many of the economic theories and business models fail to hold in India owing to the unique nature of the economy, the country and the citizens. India is deeply influenced by and believes in its traditions…

Budget 2021 - New Income Tax Slabs for 2022

Individuals and HUF (Option A) and AOP, BOI, AJP On the above tax, surcharge is applicable at following rates, based on total income: (flat rates)Up to 50 lakh – Nil, 50 lakh to 1 crore – 10%, above 1 crore – 15% Individuals and HUF…
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Budget 2021 – How Tax Assessments have changed

Reduction in the time limit for completing an assessment The time limit for completion of assessment, reassessment and re-computation and for passing an order under section 143 or 144 commonly referred as ‘Scrutiny assessment’ was earlier…
Finance insurance and safety concept.

Budget 2021 – Changes in Income Tax Law

No change in rates of taxation There are no changes in respect of income of all categories of assessee liable to tax for the financial year 2021-22. The rates of income shall continue to be the same as applicable for the financial year 2020-21.…
Express delivery service

Budget 2021 – Changes in Goods and Services Tax

No Input Tax Credit if a supplier has not filed returns Section 16 allows taxpayers’ to claim an input tax credit based on GSTR-2A and 2B. However, a new clause (aa) has been inserted in the aforesaid section, adding one more condition to…