Latest Update As per the Circular No. 12/2020 dated 20th May, 2020, has clarified that the provisions of Section 269SU will not be applicable to ; The specified persons having B2B transactions only. At least 95% of the aggregate receipts… Read More
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Relaxations under the Income Tax Act, 1961 amid COVID-19 Pandemic
As the world is going through COVID-19 pandemic, most of the Countries are under Lock Down in the fight against COVID-19. Industries are shut and Government is encouraging the employers to give their employees work from home . The deadly… Read More
Amendment under Section 194J by Finance Act, 2020
Prior to the Finance Act, 2020, there was a uniform rate of TDS under Section 194J of the Income Tax Act, the amendment has now introduced another rate of 2% TDS in addition to the existing 10% for certain payments.… Read More
Transfer your GST Cash ledger balance paid by mistake under wrong head (PMT-09)
The Central Board of Indirect Taxes and Customs (CBIC) has recently come up with the a new Challan Form PMT-09 for shifting the GST wrongly paid. It will help the taxpayer to transfer the wrongly paid any amount of tax,… Read More
Revised LLP Settlement Scheme, 2020
Ministry of Corporate Affairs vide it General Circular No. 06/2020 dated 4th March, 2020 notified LLP Settlement Scheme, 2020, in continues of the same Ministry of Corporate Affairs vide General Circular No. 13/2020 dated 30 th March, 2020, made some… Read More
CFSS 2020 (Companies Fresh Start Scheme 2020)
The Ministry of Corporate Affairs Vide its General Circular No. 12/2020 Dated 30/03/2020, has launched the Companies Fresh Start Scheme 2020 that offers the condonation of delay with regard to filing of various forms, returns and documents with Ministry of… Read More
PM CARES Fund
As the World is going through COVID-19 Pandemics, India has realized the need of a fund for that will be primarily dealing with any kind of emergency or distress situation. Hence the Prime Minister Narendra Modi announced set up of… Read More
Relief measures announced by the Finance Minister with relate to Regulatory and Statutory Compliances in view of the COVID-19 outbreak in the Country
Finance Minister Smt. Nirmala Sitharaman today announced several relief measures in view of the COVID-19 outbreak via video conferencing in the areas of Income Tax, GST, Customs and Central Excise, Corporate Affairs, Insolvency and Bankruptcy (IBC), Banking Sector and Commerce.… Read More
Key Highlights of Union Budget 2020
Insertion of new sections 194K and 194O Section 194K has been inserted to provide that any person responsible for paying to a resident any income in respect of units of mutual funds as per section 10(23D) or units from the… Read More
Aadhaar-PAN Linking
The Income Tax Department has made it mandatory to link Aadhaar with PAN failing which will cause the inactivation of the PAN. The due dates for the same has been extended several times and the latest due date to link… Read More