"06 May 2019" Archive - Page 3

RBI eMandate: A Welcome Step to Facilitate Auto-debits by Fintech Firms

The Reserve Bank of India (RBI) has provided its much-awaited nod for electronic mandates (both through net banking and credit/debit cards), instead of the prevailing Adhar based authentication. This is a welcome approval for fintech companies as they will be able to auto-debit recurring payments related to mutual funds, home loans and so...

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Posted Under: Fema / RBI |

GST on establishment of Solar Power Plant- AAR allows withdrawal of Application

In re M/s. Vikram Solar (GST AAR  Andhra Pradesh)

In re M/s. Vikram Solar (GST AAR  Andhra Pradesh) 1. Whether following three separate contracts  awarded to a contractor for establishment of a Solar Power Plant namely: a) Contract for supply of Goods. b) Contract for supply of Erection and Installation Services c) Contract for supply of Operation and Maintenance Service for a period o...

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RBI amends housing loan limits / Income for priority sector lending eligibility

RBI/2018-19/179FIDD. CO. Plan. BC.18/04.09.01/2018-19 06/05/2019

it has now been decided to enhance the housing loan limits for eligibility under priority sector lending. Accordingly, in respect of RRBs and SFBs, housing loans to individuals up to ₹ 35 lakh in metropolitan centres (with population of ten lakh and above) and ₹ 25 lakh in other centres, provided the overall cost of the dwelling unit ...

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Revised procedure for issue of Part B of TDS certificate in Form No. 16

Notification No. 09/2019-Income Tax 06/05/2019

Procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules, 1962 through TRACES- reg....

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FAQs and User Manual – GSTR-9A Offline Utility

Article explains FAQs of GSTR-9A Offline Utility, About GSTR-9A Offline Utility, Download GSTR-9A Offline Utility, Worksheet Tabs in GSTR-9A Offline Utility, Entering Details in Offline Utility, Download the Generated JSON File, Upload the Generated JSON File, Download Error JSON File, Manual of GSTR-9A Offline Utility, GSTR-9A Offline Ut...

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Posted Under: Fema / RBI |

Procedure to file onetime Form DPT-3

The Ministry of Corporate Affairs vide its notification dated 22.01.2019 bought a very important change w.r.t. mandatory furnishing of information regarding outstanding receipt of loan or money by every Company other than Government Company. Accordingly, sub-rule (3) was inserted after sub-rule (2) in Rule 16A of the Companies (Acceptance...

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Posted Under: Fema / RBI |

Impact of recent amendments in GST in respect of Real Estate Sector

GST on Real Estate have undergo many changes since July 2017.The GST Council has considered the changing scenario in real estate and taken considerable changes for Rate Reductions. Central Board of Indirect taxes and Customs (CBIC) has issued notifications relating to a reduction in GST rates for real estate projects and transition relate...

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Posted Under: Fema / RBI | ,

Key highlights of GST notifications issued by CBIC on 23.04.2019

Central Board of Indirect Taxes & Customs (CBIC) had recently issued series of notifications on dated 23.04.2019, specifying changes in the CGST Rules 2017 and relaxing the GST compliance burden on small businesses (composition dealers). Key highlights of the notifications are: Rule 138E of CGST Rules 2017, which, restricts generation...

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Posted Under: Fema / RBI | ,

Receipt of Salary in Arrears and Relief u/s 89

Sometimes you may have received a portion of your salary in arrears or in advance, or you may have received a portion of your family pension in arrears or in advance. Do you think? Will it be fully taxable in the year of receipt at the higher rates or is there any relief available on […]...

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Posted Under: Fema / RBI |

How to convert Public Limited Company into Private Limited Company

CONVERSION FROM PUBLIC TO PRIVATE   COMPANY 1. Convene and Hold B.M. for following matters: Consider and Approve the proposal for conversion To decide Day, Date, Time, Venue of G.M. where Special Resolution is to be passed To Approve the notice of G.M. To authorize the C.S. or Director to issue the notice of G.M. 2. […]...

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Posted Under: Fema / RBI |

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