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V.B Prabhu Verlekar Circullar

FINANCIAL YEAR 2019 - 2020

Statutory Tax Obligations & Compliances


*Under Section 115BAA, a domestic company can opt for a lower rate of 22% from A.Y. 2020-21. However, such option is subject to fulfilment of conditions that no benefits, additional depreciation and tax holidays can be claimed by the company...

V.B Prabhu Verlekar artical in herald Newspaper

I have seen many young entrepreneurs with dreams in their eyes start their enterprise with great enthusiasm, ideas and passion. But they stumble mid-way. Instead of rising with renewed vigour and strategies, they just crumble and disintegrate with permanent scar of failure with heavy debts.

V.B Prabhu Verlekar artical in herald Newspaper

Pay income tax without maintaining account books

CA V.B. Prabhu Verlekar - Cell No. 9422446638

A taxpayer involved in business or profession has to compulsorily maintain books of accounts for his business such as cash book, ledgers, stock registers, etc. on a regular basis and which needs to be supported with documentary evidence. Further he has to get them audited by a Chartered Accountant. For this, substantial expenditure is required to be incurred for maintaining books of accounts and for audit fees.