Direct Taxes Proposals – Budget 2023

DIRECT TAX PROPOSALS – BUDGET 2023 1. New Cooperatives – 15% Tax Rate. 2. Higher limit of cash deposit & TDS (3 lakhs) limit for Primary Cooperatives etc. 3. Start Ups benefits extended by 1 year to 1.4.2023. 4. No Capital Gain on gold conversion to bonds. 5. TDS on EPF Reduced. 6. Relief 87A […]

All You Need To Know About Startups In India

On January 16, 2017, Prime Minister Narendra Modi launched the ‘Startup India Initiative’. The initiative was launched to support entrepreneurs in India as new startups were blooming in almost all business sectors.  The initiative gave budding entrepreneurs fresh hope since they perceived it as government support for their start-up companies. The government released a notification […]

Income & MSME Updates – Finance Bill 2022

INCOME — The government will tax income from digital asset transfers at 30% — No deduction allowed while computing income except the cost of acquisition — Loss cannot be set off from any other income — Gift of cryptocurrencies to be taxed at receiver’s end — A new provision to allow taxpayers to file an […]

Budget 2022 – Quick Summary

DEFICIT/EXPENDITURE 1. Proposes fiscal deficit of 4.5% of GDP by 2025/26 2. Projects fiscal deficit of 6.4% of GDP in 2022/23 3. Revised fiscal deficit for 2021/22 at 6.9% of GDP 4. Total expenditure in 2022/23 seen at 39.45 trillion rupees 5. States will be allowed a 4% fiscal deficit to GDP in FY23 6. […]