The Ministry of Finance has suspended the fresh initiation of insolvency proceedings up to one year depending upon the COVID-19 pandemic situation. The Minister for Finance and Corporate Affairs said that, Minimum threshold to initiate...
The Central Board of Direct Taxes (CBDT) has deferred the new procedure for Registration, Approval of Registration of Charitable and Religious Trusts. In view of the unprecedented humanitarian and economic crisis, the CBDT has decided that the...
The three officers Prashant Bhushan of 1988 batch IRS, Prakash Dubey of 2001 batch, and Sanjay Bahadur of 1989 batch IRS officers have been identified as the key accused of the tax hike hoax incident....
The Ministry of Finance has clarified that, there is no extension of the Financial Year. There is fake news circulating in some section of media that the Financial Year has been extended. A notification issued...
The Ministry of Finance has notified the Finance Act 2020amid the Corona Virus ( COVID-19 ) outbreak. Key Highlights Expenditure: The government proposes to spend Rs 30,42,230 crore in 2020-21, which is 12.7% higher than...
In a video press conference conducted by Finance Minister Nirmala Sitharaman, today announced the extension of the deadline of Income Tax Returns for the Financial Year 2018-19 from 31st March, 2020 to 30th June, 2020....
The Ministry of Finance has extended the due date for linking of Aadhaar with PAN from March 31, 2020 to June 30th 2020. Under the provisions of recently introduced Section 139AA of the Income Tax...
The Ministry of Finance today extended the deadline of the March, April, May 2020 GST Returns till 3oth June, 2020 due to Corona Virus ( COVID-19) outbreak. The Finance Minister Nirmala Sitharaman has announced that...
The Ministry of Finance has notified the Direct Tax Vivad se Vishwas Act, 2020. The Direct Tax Vivad se Vishwas Act, 2020 was introduced in Lok Sabha by the Minister of Finance, Ms. Nirmala Sitharaman,...
The GST Council, in its 39th meeting held today decided to extend the due dates for Form GSTR-3B for the month of July, 2019 to January, 2020. In a Press Release issued by Finance Ministry...
The Goa Chief Minister Pramod Sawant, who also holds the charge of the finance ministry, on February 6th presented the budget for the financial year 2020 in the Goa state assembly. The Total budget size...
The Finance Ministry of Egypt has an amended VAT Act to remove baked snacks and shower gel from the list of VAT-exempt goods says the local press reports. The current rate of 5% will be...
The Ministry of Finance has notified the Banning of Unregulated Deposit Schemes, 2019. The Act is aimed at tackling the menace of illicit deposit-taking activities in the country. Companies/ institutions running such schemes exploit existing...
The Ministry of Finance has revealed the details of settlements done under the Sabka Vishwas – Legacy Dispute Resolution Scheme. The details of the total amount of funds that are locked up in cases at...
The Finance Ministry has issued a clarification regarding Proposal to Income Tax on Non-Taxpaying NRIs in the Finance Bill 2020. The Clarification said that, NRI’s Overseas Income will not be Taxed. The Finance Ministry said...
Govt. to implement Cash Rewards Scheme for customers who insist on #TaxInvoices for their purchases. #Budget2020 #Taxscan — Tax Scan (@tax_scan) February 1, 2020 Import duty hiked on inputs used by footwear and furniture MSMEs...
The Ministry of Finance has reportedly summoned the Infosys executives for over the Goods and Services Tax Network (GSTN) glitches. Senior executives of Infosys has been summoned following continued glitches being faced by taxpayers and...
The Finance Ministry has announced the three due dates for filing GSTR-3B for different categories of Taxpayers. The Finance Ministry today said that now GST taxpayers can file their GSTR-3B returns in a staggered manner. Considering...
The National Revenue Agency of Bulgaria has announced the changes to be applied to the calculation of turnover for the VAT registration threshold. The new rules are applicable to the homogeneous transactions or activities between...
The Finance Ministry has clarified that, there is no proposal to stop the circulation of Rs. 2000 Notes. An analysis of the search cases, conducted by Income Tax Department (ITD), involving cash seizures of more...
The Ministry of Finance has eased norms of Aadhaar KYC for Opening the Bank Account. Norms of Aadhaar KYC are eased for opening of bank account and not for the change of address in it,...
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