Simplified Laws Guide to Taxation and Legal Concern

Under the existing provisions of section 80G, deduction is not allowed in respect of donation made of any sum exceeding Rs.10,000, if the same is not paid by any mode other than cash. In order to provide cash less economy and transparency, it is proposed to amend section 80G so …

Section 115JAA contains provisions regarding carrying forward and set off of tax credit in respect of Minimum Alternate T ax (MAT) paid by companies under section 115JB. Currently, the tax credit can be carried forward upto tenth assessment years. With a view to provide relief to the assessees paying MAT, …

The existing provisions of section 80-IAC, inter alia, provide that an eligible start-up shall be allowed a deduction of an amount equal to one hundred per cent of the profits and gains derived from eligible business for three consecutive assessment years out of five years beginning from the year in …