Updates

Union Budget 2020 has given an option to Individuals and HUF’s for lower tax rate slab under Section 115 BAC of Income Tax Act,1961. A brief comparison is drawn here between the existing and the new regime for better understanding.

– FRAMEWORK FOR AIRCRAFT OPERATING LEASE AT IFSC APRIL21
– GUIDELINES ON FINANCIAL REPORTING FOR DEBT ISSUES IN IFSC_Jan21
– FRAMEWORK FOR ENABLING ANCILLARY SERVICE March21
– IFSC AUTHORITY REGULATION 2020 feb21
– QUALIFIED FINANCIAL CONTRACTS AS PER IFSC MAY21

• GIFT
• GIFT Niraj
• GIFT Roshan-1
• GIFT Roshan-2
• GIFT Rodhan-3
• Tax Regime
• Compliance Calendar 21-22

CBDT has clarified that the period of lockdown and quarantined in India should not be taken in to account for determination of residential status for those individuals who had come on visit to India but not able to leave India due to COVID 19 pandemic.