KSA Infomatrix

  Follow us on -  LinkedIn  - https://www.linkedin.com/in/aseem-aggarwal-1b365549/ Youtube  -  https://www.youtube.com/user/aseemaggarwal92 Twitter  -  https://twitter.com/aseem252 Blog  -  https://aseemconsult.blogspot.com/ In a notification issued on Wednesday, the ministry announced the amendments made in schedule III of the Companies Act with effect from April 1, 2021. The government has also asked companies to disclose deposits or advances from any person for the purpose of trading or investing in cryptocurrency. In what could possibly mark the first move by the government to regulate cryptocurrencies and related transactions in India, the Corporate Affairs Ministry has made it mandatory for companies dealing with virtual currencies to disclose profit or loss incurred on crypto transactions and the amount of cryptos they hold in their balance sheets. In a notification issued on Wednesday, the ministry announced the amendments made in sch...

  Follow us on -  LinkedIn  - https://www.linkedin.com/in/aseem-aggarwal-1b365549/ Youtube  -  https://www.youtube.com/user/aseemaggarwal92 Twitter  -  https://twitter.com/aseem252 Blog  -  https://aseemconsult.blogspot.com/ 1. Pre-filled ITRs Forms A major change in ITRs Form is expected as per  Budget 2021  (Pre Filed ITft) will be introduced. The Pre-filled  ITRs  Forms will have information of Capital Gains from  Listed  Securities, Dividend   Income,   Interest  from Banks/Post Office, etc. Earlier Pre-filed    ITRs  form  was available for Salaried employees where Income was reflected on basis of Form 16, but now the scope has become wide. 2. Tax on Interest on PF Interest earned from the Providend fund is exempt from Income Tax. But, in Budget 2021 has proposed that Interest on Employee Contributions to Providend fund over Rs. 2.5 lakhs should Taxable. 3. P...

Follow us on -  LinkedIn  - https://www.linkedin.com/in/aseem-aggarwal-1b365549/ Youtube  -  https://www.youtube.com/user/aseemaggarwal92 Twitter  -  https://twitter.com/aseem252 Blog  -  https://aseemconsult.blogspot.com/ The Foreign Investors India Forum has urged the government to relax tax provisions for foreign nationals working in India and align them with similar provisions in countries like Singapore and China, in a bid to attract investment and encourage high-flying corp orate executives and fund managers having overseas incomes to stay in the country. Under the current income tax (I-T) provisions, the global income of foreigners is taxed if they stay in India for more than 182 days in a year , thus increasing their personal tax liability in the country. This provision acts as disincentive for foreign nationals, having global income, to stay in India for longer periods. A letter in this regard was written by Foreign Investors India Forum'...