Untitled 1

War Economics – Impact of Russia’s evasion on global trade

The United States has historically used economic sanctions as a weapon in the international war, owing to the dominance of US dollars. However, the overuse of sanctions is also threatening to destabilize the global economy. The continuous use…
sanctions

Economic warfare between Russia and the west Sanctions

The main principle of war is to hurt or harm the enemy as much as possible. And what hurts more in the twenty-first century than money? While the United States and NATO members have denied any direct involvement in the Ukraine war, they are…
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War Economics – What is NATO, Why Ukraine seeks its membership?

  North Atlantic Treaty Organisation (NATO)   North Atlantic Treaty Organization (NATO) is a military alliance that was formed in 1949 by 12 countries. It derived the name ‘North Atlantic’ as the countries involved…
war economics

War Economics – Why did Russia attack Ukraine?

War Economics Prologue Right and wrong – surprisingly, the simplest and yet most widely misunderstood concept, even in the twenty-first century where the world thrives on data and instant information. What’s right and what’s wrong, is…
Budget

Budget 2022 – Comprehensive analysis of budget announcements

Preface Cut your coat according to your cloth, because if you don’t, you will lose them both! Budgeting is an essential part of our lives. We are budgeting all the time, knowingly, unknowingly, as it helps us in keeping our expenses in…
Finance Budget 22

Budget 2022 – New Faceless Assessment Scheme

More time to release new faceless assessment schemes The scheme for faceless assessment for determination of arm’s length price under section 92CA, dispute resolution panel under section 144C and appeal to the appellate tribunal under…
Budget 22

Budget 2022 – Concept of ‘Updated Returns’ explained

After filing the return, a taxpayer has an option to file a revised return or if not filed altogether, an option of filing of belated return. The period to file such returns is 5 months in the case of the individual assessee, 2 months for…
New Budget 22

Budget 2022 – Changes in the Income Tax Rules

New option to file ‘Updated Return’ after paying 25 - 50% additional taxes Under new section 140B, for filing an updated return, a taxpayer has to mandatorily disclose additional income that has to mandatorily result in additional…
BUDGET 2022 INDIA

Budget 2022 – Changes in the Customs and Excise Rules

SEZ administration to be reformed Necessary reforms are to be undertaken in Customs Administration of Special Economic Zones (SEZs) to make the same fully IT-driven and function on the Customs National Portal for better facilities and…
budget 2022

Budget 2022 – Changes in the Goods and Services Tax (GST) Rules

Budget 2022 -No two-way communication in Goods and Services Tax returns Section 38 has been substituted whose title is now ‘Communication of details of inward supplies and input tax credit’. The section prescribes the manner, conditions…