Author: Vinod Arora

CBIC Clarification on Scope of Principal-Agent Relationship-vis-a-vis Schedule I of CGST Act

CBIC has issued GST Circular 57/31/2018 to clarify various issues relating to ‘Scope of Principal-agent relationship’ vis-a-vis ‘Schedule I of the CGST Act, 2017.

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Section 80TTB: Deduction for Interest on Deposits (Senior Citizens)

Section 80TTB has been inserted by the Finance Act, 2018 to provide for a higher deduction of upto Rs 50,000 in respect of interest income, in the case of …

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Section 80TTA: Deduction for Interest on Savings Deposits

Section 80TTA of Income Tax Act, 1961 provides for a deduction of upto Rs 10,000 from the interest income earned from savings deposits with a Bank or Post Office, …

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