Legal ADDA

Legal Entity Identifier (LEI) is mandatory for Banking Transaction Above 50 Crore

Legal Entity Identifier (LEI) is mandatory for Banking Transaction Above 50 Crore RBI has specified the following introduction related to Legal Entity Identifier (LEI Code) in recent Notification/Circular – RBI/2020-21/82 The Legal Entity Identifier (LEI Code) is conceived as a key measure to improve the quality and accuracy of financial data systems for better risk […]

Compulsory Accounting Records for Specified Professions

Specified Professions Accounting Records (Rule 44AA with Rule 6F)   Specified Professions Accounting Records; Person Engaged in Activity of Specified Profession (Professionals/Person) ; Maintain Compulsory Books of Accounts and Accounting Records. Such Specified Profession are; Legal Medical Engineering Architectural Accountancy (Chartered Accountants, CMA) Technical consultancy Interior decoration Authorised representative -A person who represents another person […]

New Income Tax Regime Comes Into Force For FY 2020-21(AY 2021-22)

As per Financial Budget 2020, From 1st April 2020 There is New Income Tax Regime comes into force for FY 2020-21. New Income Tax Regime : Advantages and Disadvantages New Income Tax Structure is applicable to Person who is not having Income from Business and Profession. However its optional on the hand of Tax Payer. […]

Benefits of Hiring CA or Tax Consultant For Tax Return Filings

Benefits of Hiring CA or Income Tax Return Consultants For Income Tax Return Filings Firstly, People are Avoiding Tax Return Consultant and they are opting for Self Filing of Income Tax Return. Secondly Income Tax Return Consultant is always good option for Income Tax Return Filings. Benefits of Specialised Tax Field Knowledge and Experience. Tax […]