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...
After Lok Sabha, the upper house of Parliament, Rajya Sabha also cleared the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020. The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 was promulgated on December 28, 2019. ...
To identify cases of fraudulent claims under Goods & Services Tax (GST), the Government of India has taken measures to apply stringent risk parameters-based checks driven by rigorous data analytics and Artificial Intelligence (AI) tools...
A number of companies applied for IGST refund since the introduction of the tax regime. As on 02.12.2019, a total of 1,86,158 entities have filed 36,42,272 refund applications, out of which 34,46,010 refund applications have...
The Ministry of Corporate Affairs (MCA) deactivated 19,40,313 Director Identification Numbers (DINs) in the MCA21 Database due to non-filing of Know Your Client (KYC), as on 28.11.2019. This was stated by Shri Anurag Singh Thakur,...
The Lok Sabha and Rajya Sabha has passed a bill to ban E-Cigarettes, i.e, The Prohibition of Electronic Cigarettes (Production, Manufacture, Import, Export, Transport, Sale, Distribution, Storage and Advertisement) Ordinance, 2019. Electronic-cigarettes are battery-operated devices...
After the Lok Sabha, Rajya Sabha has also passed the Chit Funds (Amendment) Bill, 2019. The finance ministry proposed amendments to chit funds law after several alleged frauds reported over the last few years. Several innocent...
The Union Cabinet chaired by Prime Minister Narendra Modi yesterday approved for withdrawing of the International Financial Services Centres Authority, 2019 Bill which was introduced in the Rajya Sabha on 12th February, 2019 and pending in...
The Rajya Sabha Tuesday passed the Companies (Amendment ) Bill 2019, which seeks to amend the Companies Act 2013. The Bill was cleared by the Lok Sabha on July 26. It is based on the...
The Government issued directions to deal with wilful bank loan defaulters or fugitive economic offenders. For this a Look Out Circular (LOC) can be opened by the Bureau of Immigration in respect of Indian citizens...
The Central Government has re-promulgated the Companies (Amendment) Ordinance, 2019. The Ordinance is to amend the companies law to further improve the ease of doing business as well as ensure better compliance levels. Since the Bill to...
The Government has collected Rs. 2,476 as Tax and Penalty under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 said Minister of Finance for State Shiva Pratap Shukla in the...
The Budget Session, 2018 of Parliament which commenced on Monday, 29th January 2018 has been adjourned sine die today i.e. Friday, the 6th April 2018. In between both parts of the session, both Houses also adjourned for recess for...
The Bill to amend Companies Act, 2013 was passed in Rajya Sabha today. Interestingly, this is second Amendment Bill passed by the Parliament after notification of the Companies Act, 2013 i.e. within a span of...
The number of income tax payers has increased after demonetization. During the period of 09.11.2016 to 31.03.2017, 1.96 crore returns were filed as compared to 1.63 crore returns filed during corresponding period of FY 2015-16...
Various Tax Exemptions have been given to Startups in the recent past – The following direct tax incentives were provided in Income Tax Act,1961 to promote Start-ups through Finance Act, 2016: Introduction of new section 54EE...
The provision that the withdrawal from National Pension Scheme (NPS) is taxed to the extent of 60 per cent has been introduced into the Income Tax Act, 1961 vide Finance Act, 2016 by inserting clause...
The Rajya Sabha today signed off on all the four supporting Bills of GST without any amendments. By this, the GST moved one more step close to its roll out on 1stJuly 2017. The Rajya...
The Rajya Sabha, today passed the Finance Bill with five amendments.The Lok Sabha, last week had given assent to the Bill with some major amendments. While replying to the debate on amendment, Finance Minister Arun Jaitley strongly...
The Budget Session, 2017 of Parliament commenced on Tuesday, 31st January, 2017 and subject to exigencies of government business, will be adjourned sine die on Wednesday, 12th April, 2017. Both the Houses have been adjourned for recess...
Enforcement Directorate has intimated that bank employees have been found indulging in money laundering and other unfair practices during the phase of demonetisation and that the investigations have been initiated under the provisions of Prevention of Money...
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