Blog Income Tax Act

Exemption for Amount Received from Provident Fund A/c

Applicable Provisions The amount received from the ‘Statutory Provident Fund’ are Exempted under section 10(11) of the Income Tax Act. The amount received from ‘Recognized Provident Fund’ is Exempted under section 10(11) of the Income Tax Act. In this article, we will explain the brief provisions of both the section of the Income-tax Act. Introduction

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Income Tax Act

Vivad se vishvas Scheme – Full Analysis

Measure to reduce the pending litigation Inspired by the success of the Indirect Tax Sabka Vishwas (Legacy Dispute Resolution) Scheme, the finance budget 2020 had proposed  Direct Tax amnesty scheme, ‘Vivad Se Vishwas’, with a view to scale back litigation. Accordingly, the govt has now tabled The Direct Tax Vivad Se Vishwas Bill, 2020 in Parliament. Taxpayer can go for the Scheme in case there’s an pending appeal as on 31 January 2020, At following appellate boards: SC

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