Clause (24) of section 2 of the Act provides an inclusive definition of the income. Sub-clause (x) to the said clause provide that income to include any sum received by the assessee from his employees as contribution to any provident fund or superannuation fund or any fund set up under the provisions of ESI Act […]

Charitable organization is a kind of institution or a business that falls under the category of NPO or non-profit organization and can be based on providing educational, religious or public interest activities. There are different kinds of activities of the charitable organizations. Some of them offer relief to the needy people who are in distress, poverty […]

Department for Promotion of Industry and Internal Trade(DPIIT) Secretary, Ministry of Commerce and Industry, Dr. Guruprasad Mohapatra today said that the Budget 2021-22 has proposed various measures to reduce regulatory compliance burden which will improve ease of doing business for industry and ease of living for citizens. While addressing the media here,Dr. Guruprasad Mohapatra said […]

Amendments carried out in the Finance Bill, 2021 will come into effect from the date when the same will be notified, as far as possible, concurrently with the corresponding amendments to the similar Acts passed by the States and Union territories with Legislature. Proposed Amendments in the CGST Act, 2017 Current provisions Proposed provisions Effect […]