In a Press Conference held yesterday, the Minister for Finance and Corporate Affairs Nirmala Sitharaman said that the Central government will allow direct listing of Securities by Indian Public Companies in Permissible Foreign Jurisdictions. The...
The Central Government to decriminalise the violations involving minor technical and procedural defaults (shortcomings in CSR reporting, inadequacies in board report, filing defaults, delay in holding AGM) under the Companies Act. In a press conference...
In order to provide more funds at the disposal of the taxpayers, the rates of Tax Deduction at Source ( TDS ) for non-salaried specified payments made to residents and rates of Tax Collection at...
The Central Board Direct Tax (CBDT) issued a clarification on Direct Tax Vivad se Vishwas Scheme, 2020 wherein the Board has updated the Frequently Asked Questions (FAQs)issued after the introduction of the same. Pursuant to...
The Finance Minister Nirmala Sitharaman has announced the extension of Payment date under Sabka Vishwas Scheme shall be extended to 30th June, 2020. The Finance Minister also said that, No interest for this period shall...
The Finance Minister Nirmala Sitharaman has announced that, under Vivad se Vishwas Scheme, there will not be additional 10% amount if the payment is done by June 30th, 2020. The Finance Minister also said that,...
The Institute of Chartered Accountants of India (ICAI) has always supported various initiatives & schemes launched by the Government for the benefit of stakeholders & the public at large. In its endeavor to reach the...
The Reserve Bank of India (RBI), in the worrying scenario of Yes Bank depositors, issued directions to the Yes Bank pertaining to the capped the withdrawal limit at INR 50,000/-. The Reserve Bank of India...
The Finance Commission will hold a consultation meeting with the Finance Ministers of all States on 13th March 2020 in New Delhi. This is to discuss issues related to the final report of the Finance...
India’s GST (Goods & Services Tax) Councils practically rewrote the tax code a few months prior without actually changing anything. It decided to just translate it to the current language and, as a result, online...
The West Bengal State Budget 2020 has proposed an Amnesty Scheme to collect disputed taxes prior to the GST — under VAT, central sales tax and entry tax. West Bengal finance minister Amit Mitra in...
The Finance Minister of Kerala, TM Thomas Isaac has proposed the budget for the year 2020-21. The significant announcement made by the Kerala government was that it raised the tax rates of motor vehicles and...
The Vivad se Vishwas scheme was announced by Union Finance Minister Nirmala Sitharaman during her budget speech on February 1, 2020. Given below is all the aspects you have to know about this amnesty scheme:...
Finance Minister Nirmala Sitharaman has proposed new changes in TDS provisions. New TDS rate chart for Assessment Year 2020-21 and 2021-22. Amended Sections TDS Rates in AY 2020-21 TDS Rates in AY 2021-22 Section 192:...
The Institute of Chartered Accountants of India (ICAI) has invited the suggestions on Tax Proposals of Union Budget 2020. The Finance Minister Nirmala Sitharaman has presented the Union Budget 2020-21 in the Parliament. In view...
Here are a few predictions that did rounds before the presentation of the Union Budget 2020. We examine how these predictions have turned into actual facts. Expectations Reality TAX SLABS up to Rs. 5 lakh...
Nirmala Sitharam, the Finance Minister of India presented the Union Budget for the Financial year 2020-21 wherein the budget proposed the extension from 5% to 10% under Section 50C and 45CA. Section 45CA and 50C...
The Finance Minister Nirmala Sitharaman while presenting the union budget on Saturday has proposed an amendment in the qualifications for appointment of Chairperson and Members of the Adjudicating Authority established as per the Prohibition of...
The Union Budget for the year 2020-21 has made the availment of benefits of Input Tax Credit (ITC) by the fraudulent means which is by making fake invoices is a non-bailable and cognizable offence. This...
The Finance Minister Nirmala Sitharaman while presenting the union budget for 2020 on Saturday has proposed for a 10% TDS on capital gains from mutual funds along with TDS on dividends for resident individuals who...
The Finance Minister, while announcing the budget 2020 has proposed to amend the Companies Act, 2013 to substitute criminal liability by civil liability. The Finance minister stated that “tax harassment” would not be tolerated and...
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