Monday, March 17

INCOME TAX

69% of businesses have better accountability, improved security, and prevented
ENGLISH, INCOME TAX, INDIA

69% of businesses have better accountability, improved security, and prevented

69% of businesses have better accountability, improved security, and prevented fraud with Zoho Books' audit trail, survey finds Chennai, March 28, 2023--Zoho Corporation, the Chennai-headquartered global technology company, has relea sed the results of its recent survey conducted among Indian businesses using Zoho Books, a comprehensive GST-compliant cloud accounting platform. The survey, which sampled 470 businesses, was aimed at understanding h ow businesses have benefited from using the audit trail in Zoho Books. The results revealed that 69% of the resp ondents feel that the audit trail has helped them ensure better accountability, protect against fraud, and improv e security. The survey further indicated that nearly 60% of the respondents were able to identify and correct dis crepa...
Current tax architecture on Virtual Digital Assets (VDA) led to an outflow
ENGLISH, INCOME TAX, INDIA

Current tax architecture on Virtual Digital Assets (VDA) led to an outflow

Current tax architecture on Virtual Digital Assets (VDA) led to an outflow of INR 32 thousand crores during Feb-Oct 2022: Esya Centre Report 04 Jan 2022: Esya Centre, a New Delhi-based technology policy think-tank, has published a first-of-its-kind da ta-led study on the economic impact of India’s taxation framework for virtual digital assets (VDAs), with knowl edge support from Taxsutra, India’s largest B2B tax portal. The think-tank analysed the impact of three events on the centralised virtual digital asset (VDA) industry in In dia, announced on 1st February 2022 during the Union Budget 2022-23: (a) a levy of a flat 30 percent tax on gai ns from VDA trade applicable from 1st April 2022; (b) a levy of 1 percent tax deducted at source (TDS) on trans actions above INR 10,000 from 1st Jul...