The Lower House of Paliament, the Lok Sabha has passed the The Companies (Amendment) Bill, 2020. The Companies (Amendment) Bill, 2020 was introduced in Lok Sabha by the Minister for Corporate Affairs, Ms. Nirmala Sitharaman,...
The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the Functionality to file revocation application for canceled GST Registration. In an advisory issued by CBIC said that, “In view of the...
The Central Board of Direct Taxes (CBDT) and all its field offices across India today observed the 160th anniversary of Income Tax Day. In her message on the 160th Income Tax Day, Union Minister for Finance...
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participated in the 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Saudi Arabian Presidency through Video Conferencing here today to discuss the...
The Finance Minister, Nirmala Sitharaman in her message on the Goods and Service Tax (GST) Day ensures all the economic growth to all the countrymen. While highlighting the History, the Finance Minister quoted, “this government...
The Goods and Services Tax ( GST ), with its historic rollout, promised to change the conventional methods prevailed in the old tax regime. One of the key objectives of the GST was the removal...
The Central Board of Direct Taxes ( CBDT ) has released has issued tax refunds worth Rs. 26,242 crores to 16,84,298 assessees from 1st April 2020 to 21st May 2020. The Income Tax refunds amounting...
The Institute of Company Secretaries of India (ICSI) on Monday wrote a letter to the Finance Minister, Nirmala Sitharaman requesting the amendment in Goods and Service Tax (GST) due to COVID-19. The letter while emphasizing...
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 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...
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 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,...
After Lok Sabha, the upper house of the Parliament, Rajya Sabha has also passed The Direct Tax Vivad se Vishwas Bill, 2020. The Direct Tax Vivad se Vishwas Bill, 2020 was introduced in Lok Sabha...
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 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...
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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