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...
The Finance Minister Nirmala Sitharaman has proposed the following changes across various spheres of International Taxation and Transfer Pricing: Modification in conditions for offshore funds’ exemption from “business connection”. Contribution of the eligible fund manager...
In an aim to address the ailing Non-Banking Financial Corporations (NBFCs), Finance Minister Nirmala Sitharaman in her budget 2020 speech on Saturday has proposed a reduction in the NBFC’s limit for eligibility for debt recovery....
The Finance Minister Nirmala Sitharaman through her budget 2020 has proposed for a collection of 1% TDS from sellers by E-commerce Platforms. “In order to widen and deepen the tax net by bringing participants of...
The Finance minister while presenting Budget 2020 proposes that the Insurance coverage deposit limit will be increased from Rs 1 lakh to Rs 5 lakh per depositor. Nirmala Sitharam also informed the august House that...
The Finance Minister Nirmala Sitharaman on Saturday through the union Budget has proposed the following 16 amendments to the Central Goods and Service taxes (CGST) aiming to improve the scope and productivity of the tax...
On presenting Budget 2020, finance minister proposes to exempt levy of stamp duty on transactions in stock exchanges established in International Financial Services Centre(IFSC). This provision will come into force on the 1st day of...
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