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Tax on Online Gamming : 115BBJ | Latest
(8 min Read) Section 115BBJ.ย How do I pay tax on online game? (Tax on online gamming) ย After section 115BBI of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2024, namely:โโTax on winnings from online games.โ115BBJ. (Tax on online gamming) Notwithstanding anything contained in any other … Read more
Indian Tax || New Section 80CCH Agniveer Corpus Fund
(Read 4 Min) Section 80CCH – Contribution to Agnipath Scheme ย After section 80CCG of the Income-tax Act, the following section shall be inserted, namely:โโ ย Deduction in respect of contribution to Agnipath Scheme. โ80CCH. ย (1) Where an assessee, being an individual enrolled in the Agnipath Scheme and subscribing to theAgniveer Corpus Fund on or after … Read more
Indian Tax || GST : 180 days credit reversal Rule.
Amendment of section 16. In section 16 of the Central Goods and Services Tax Act, in sub-section (2),โโ (i) in the second proviso, for the words โadded to his output tax liability, along with interest thereonโ, the words and figures โpaid by him along with interest payable under section 50โ shall be substituted; (ii) in … Read more
Indian Tax || New Benefits to Small Businesses in GST.
New Benefits for Composition levy operators. Amendment of section 10. (CGST ACT) In the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the Central Goods and Services Tax Act), in section 10,โโ 12 of 2017. (a) in sub-section (2), in clause (d), the words โgoods orโ shall be omitted; (b) in sub-section … Read more
Indian Tax || Amortisation of certain preliminary expenses.
Amendment of section 35D. In section 35D of the Income-tax Act, in sub-section (2), in clause (a), for the proviso, the following proviso shall be substituted with effect from the 1st day of April, 2024, namely:โ โProvided that the assessee shall furnish a statement containing the particulars of expenditure specified in this clause within such … Read more