Phoenix Auditing

Private players may own 51% stake in proposed bad bank: Report

State-run banks who are working on the “bad bank” want private companies, including asset managers, to own a 51 percent stake in the asset management company (AMC). he public sector will have a 49 percent stake, but the shareholding ratio is yet to be finalised, Mint reported. However, private entities with...

The Centre’s Rs 2.5 lakh crore asset monetisation policy

After years of false starts — the latest due to the Covid-19 pandemic in 2020, the Narendra Modi government has made privatisation and asset monetisation cornerstones of its economic agenda. The government’s plans for privatisation, which include marquee names Air India and Bharat Petroleum, are well known. However, since...

FY 2020-21: 6 Income Tax Benefits For Senior Citizens

India’s income tax legislation provides certain advantages for retirees and as per the regulations, a resident senior citizen of India falls under the age group of 60 years and 80 years and very poor citizen above 80 years of age are able to reap tax benefits under the Section...

7 direct tax announcements in Budget 2021 and its impact on taxpayers

The Finance Minister Nirmala Sitharaman presented the Union Budget for FY 2021-22 on February 1. The theme for the direct tax proposal was simplification of the tax administration, ease of compliance and reduction of litigation. The key aspects of the direct tax proposals impacting individual taxpayers are discussed below....

How to Verify TDS Certificate Online?

Tax Deducted at Source (TDS) is proof of tax paid by the payee. Apart from verifying the digital signatures on the TDS certificate, it is important to assure its credibility. But before we discuss ways to verify the credibility of a TDS certificate online, let’s understand what a TDS...