MSMEs under Mutual Credit Guarantee Scheme can avail 60% Guarantee for Credit Facility upto ₹100 Crore
Minister of State for Finance, Pankaj Chadhary on Tuesday, 18 March 2025, apprised the Rajya Sabha of the launch of the Mutual Credit Guarantee...
Finance Ministry Announces No Deduction of Income Tax on Payments Received by Credit Guarantee Fund Trust for MSMEs [Read Notification]
The Ministry of Finance issued Notification No. 5476(E) dated December 18, 2024, announcing that no income tax will be deducted at source (TDS) on payments made to the Credit Guarantee Fund Trust for...
![Finance Ministry Announces No Deduction of Income Tax on Payments Received by Credit Guarantee Fund Trust for MSMEs [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/12/Finance-Minister-Deduction-of-Income-Tax-Credit-Guarantee-Fund-Trust-Taxscan.jpg "Finance Ministry Announces No Deduction of Income Tax on Payments Received by Credit Guarantee Fund Trust for MSMEs [Read Notification]")
Application u/s 9 Of IBC Cannot Be Admitted For Invoices Covered By Prohibited Period under IBC: NCLAT [Read Order]
The New Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) has held that application under section 9 of the Insolvency and Bankruptcy code ( IBC ), 2016 cannot be admitted for the...
Filing of Turnover in a tender process would not exempt from furnishing the Income Tax Return: Gauhati HC [Read Order]
The Gauhati High Court has held that filing of turnover in a tender process would not exempt from furnishing the income tax return ( ITR ). The court held that the words “Turnover” and “Income Tax...
![Filing of Turnover in a tender process would not exempt from furnishing the Income Tax Return: Gauhati HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Gauhati-High-Court-ITR-Filing-turnover-in-tender-process-ITR-filing-exemption-taxscan.jpg "Filing of Turnover in a tender process would not exempt from furnishing the Income Tax Return: Gauhati HC [Read Order]")
ICAI Revises Criteria for Classification of Non-Company Entities for Applicability of Accounting Standards
The Institute of Chartered Accountants of India ( ICAI ) has revised the criteria for classification of the non-company entities for the applicability of the accounting standards. In its 433rd...
Exemption Claim to MSME Unit to File Audit Report u/s 44 AD of Income Tax Act: Orissa HC Directs Scrutiny Committee to Review Matter [Read Order]
In a recent case, the Orissa High Court directed the scrutiny committee to review matter regarding the claim of exemption to Micro, Small, and Medium Enterprises ( MSME ) Unit to file an audit...
![Exemption Claim to MSME Unit to File Audit Report u/s 44 AD of Income Tax Act: Orissa HC Directs Scrutiny Committee to Review Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Income-Tax-Act-Orissa-HC-Orissa-High-Court-MSME-claims-TAXSCAN.jpg "Exemption Claim to MSME Unit to File Audit Report u/s 44 AD of Income Tax Act: Orissa HC Directs Scrutiny Committee to Review Matter [Read Order]")