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INCOME TAX

Equalisation Levy on E-Commerce and Specified Services

Over the last decade, Information Technology (IT) has gone through an exponential expansion phase in India and globally. This has led to an increase in the supply and procurement of digital services.  The Finance Act 2020 has now been amended to impose an Equalisation Levy of 2% on consideration received by ‘e-commerce operator’ for e-commerce supply of goods or service. While the levy was initially imposed on B2B transactions, the… Read More »Equalisation Levy on E-Commerce and Specified Services

All About Income Tax on Dividends Income

Dividends are not free money — they are commonly taxable income but when and how you own an investment that pays them can adequately and dramatically change the dividend tax rate you pay. There is a number of exceptions & unusual scenarios with special rules. An Individual may receive a dividend from their equity or mutual fund investments. The dividends received were tax-exempt until 31 March 2020 i.e. FY 2019-20.… Read More »All About Income Tax on Dividends Income