Tax

The Decision of Taking 15% Corporate Tax From MNCs (Multi-National Corporations) Will Be Beneficial For India

The decision of the Richest Countries to impose a 15% corporate tax on MNCs will benefit India because the domestic tax rates are above the border and International Investors are optimistic to invest in India. NANGIA ANDERSEN, the Indian Chairman said that The Landmark decision will be beneficial for the US Government & the region of Western Europe however the scenario is different for Low Tax European Jurisdictions.

Income Tax

Income Tax E-Filling Website Launched

On Monday the new website for filling income tax launched and it has various features for the taxpayers. Some users said that the new features lead to the slow process of the tax filing and some other taxpayers praised the specifications of the website. According to the Department” We valued our taxpayers and the new portal of e-filling is well designed to process the taxation filling with effectively, convenience & flexibility. Our taxpayers come first and the rest are behind them.”

Tax

The Government Extends Various Income Tax Compliance Periods; Tax Exemptions for Covid-19 Treatment for Employees

The government on Friday extended various income tax compliance deadlines and stated that the amount paid by employers to employees for Covid-19 treatment will be tax-free. In addition, if an employee dies due to Covid-19, special payments received by family members from the employer will be exempt from income tax.