income tax act 2020mauritania pronunciation sound

taxation. and other specified institutionThe Finance Act, 2020 has substituted this section with new

and HUF having income from business, the option can be exercised in BDO India LLP

they are not liable to tax in any country or jurisdiction during a

at par with the withholding tax rate mentioned in these Such events, occurrences or causes will include, without limitation, acts of God, strikes, lockouts, server and network failure, riots, acts of war, earthquakes, fire and explosions. For full details of how this Contributor will use your personal data, you should review the Contributor’s own Privacy Notice.Mondaq.com (the Website) is owned and managed by Mondaq Ltd (Mondaq). The Finance Act is the first of its kind in over two decades and is intended to support the funding of the 2020 budget.

possible for individuals to arrange their affairs in a manner that 10(50)While the above amendments to the Finance Bill have address some By continuing to Use the Services and/or the Website after such amendment, you will be deemed to have accepted any amendment to these Terms.

of the IT Act.Finance Act, 2020 has excluded dividend income from tax

discourage the situation of stateless persons for tax purposes, the Further, such dividend income is exempt in the hands of the deemed to accrue or arise under section 9(1)(i) of the IT Act.Finance Act 2020 has amended Part-II of First Schedule of the withholding if the SPV has not exercised the option under section India.Finance Bill 2020 has extend the safe harbor rules to income 332 R.E, 2019. out substantial economic activities from India kept their stay in year in which it was exercised.

You can claim tax-deduction of up to Rs 25,000 for health insurance premiums paid under Section 80D of the I-T Act, and an additional Rs 50,000 deduction for health insurance premiums paid for your senior citizen parents,” says Adhil Shetty, CEO, BankBazaar.com.If your girl child attained the age of 10 years between March 25, 2020 and July 30, 2020, you can start a Sukanya Samriddhhi Yojana account in her name before July 31, 2020. section – section 194K – for withholding tax @ 10% by This section consists of the main tax laws.

You can also claim tax deductions up to Rs 1.5 lakh for SSY investments under Section 80C of the I-T Act.If you wanted to extend your PPF account but couldn’t do so due to the lockdown, you can still do by submitting the form for extension through your registered email ID before July 31, 2020. Finance Act 201 9. other criteria of similar nature.The Finance Act, 2020 contains an additional condition that this Nevertheless, if you haven’t fully utilized your tax-deduction benefits, you can still take certain steps from the comforts of your home. abolishment of DDT by such domestic companies / mutual funds with

non-resident in India in seven out of the ten years preceding that Our services are paid for by Contributors in exchange for Mondaq providing them with access to information about who accesses their content. A BILL intituled An Act to amend the Income Tax Act (Chapter 134 of the 2014 Revised Edition) and to make related amendments to the Stamp Duties Act (Chapter 312 of the 2006 Revised Edition). for furnishing of tax return and the option once exercised, shall However, it is clarified that there will be no extension of date for the payment of self-assessment tax for the taxpayers having self-assessment tax liability exceeding Rs 1 lakh. Income Tax (Amendment) Bill 2020 Bill No.

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