Global Minimum Corporate Tax Rate framework deal

Source: TOI, The HinduBusinessline What is the news? In a historic agreement, announced in Paris under the aegis of OECD, 130 countries (out of the 139 involved in talks), including India, have endorsed the OECD/G20 Inclusive Framework Tax Deal. It would be the most sweeping change in the international taxation in a century. This is… Continue reading Global Minimum Corporate Tax Rate framework deal

Budget 2020:Taxation and Governance

News:The Finance minister has announced the Vivad Se Vishwas scheme in Budget 2020-21 that would help in reducing litigation. Facts: About Vivaad se Vishwas Scheme: Vivaad se Vishwaas is an amnesty scheme aims at reducing tax litigations pending at various forums. Under the proposed scheme, a taxpayer would be required to pay only the amount… Continue reading Budget 2020:Taxation and Governance

Budget Briefs:Taxation

Corporate Tax: The lower rate of 25 % Corporate Tax will be extended to all companies with annual turnover up to Rs. 400 crore.Currently,this rate is only applicable to companies having annual turnover up to Rs. 250 crore.This will cover 99.3 percent of the companies. Pre-filing of Income-tax Returns: Pre-filled tax returns will be made… Continue reading Budget Briefs:Taxation