AKM Global

Established in 1981 and headquartered in Gurgaon, Ashok Maheshwary and Associates is an accounting, tax and business consultancy firm with branch offices in Delhi and Mumbai, and strategic tie ups with leading international accounting, law and consultancy firms. In pursuit of extending global footprints, we have now taken a desk in Singapore that enhances our ability to guide Singaporean companies considering global expansion.

All About Personal Tax Proposals in Union Budget 2022

All About Personal Tax Proposals in Union Budget 2022

Correction of Anomaly in Section 80CCD with respect to National Pension System (NPS) contributions for state government employees Section 80CCD(2) provides deduction of upto 14% for the contribution made by Central Government for its employees. However, this limit is 10% for State Government employees. Hence to correct this anomaly , Section 80CCD(2) is sought to …

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All About Corporate Tax Proposals in Union Budget 2022

All About Corporate Tax Proposals in Union Budget 2022

Amendment pertaining to deductibility of expenditure incurred in relation to exempt income Section 14A provides that no deduction of expenditure shall be allowed that is incurred in relation income that does not form part of the total income. It has been proposed to provide Section 14A with the overriding effect over the other contradictory sections …

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All About Cryptocurrency Taxation Introduced in Budget 2022

All About Cryptocurrency Taxation Introduced in Budget 2022

Virtual Digital Assets (VDA) Defined (Section 2(47A) A new section 2(47A) is proposed to be inserted by Finance Bill’2022, which defines virtual digital assets to mean any information or code or number or token (not being Indian currency or any foreign currency) generated through cryptography which provides a digital representation of value exchanged with or …

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Proposed Changes in GST in Budget 2022

Proposed Changes in GST in Budget 2022

Proposed changes in GST in Budget 2022 1.) A new clause to Section 16(2) of CGST Act, 2017 is inserted to provide that Input tax Credit with respect to a supply can be availed only if such credit is not restricted by the GSTR 2A/2B returns. Further, Section 16(4) of CGST Act 2017, is amended …

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Expectations For Corporate Sector From Union Budget 2022-23

Expectations For Corporate Sector From Union Budget 2022-23

As Finance Minister Nirmala Sitharaman is scheduled to present the Budget for the financial year 2022-23 on 1st February 2022. The expectations from the Indian corporate sector in line with the stability of the Indian economy, positive growth, demand generation, job creation, incentives, lower tax rates etc. Few of them have been summarized below: (1.) …

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Expectations For Individuals in Union Budget 2022-23

Expectations For Individuals in Union Budget 2022-23

The Finance Minister has committed to draw more attention towards demand generation, job creation, and stabilizing the Indian economy. These expectations highlight the loopholes, conflicts, and asymmetry within the provisions of the Income-tax Act, 1961 (“Act”) that needs to be looked into and considered in the coming budget to bring clarity in the law and …

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Research paper on Cryptocurrencies in India

Research Paper On Cryptocurrencies in India

Introduction Cryptocurrency is a digital currency which is created and managed through use of cryptography as encryption technique. The cryptocurrency which has captured most of the attention is Bitcoin. Bitcoin was launched in the year 2009 by a group whose pseudo name was Satoshi Nakamoto. In recent times, Bitcoin has created a huge hype in …

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