Article covers Exhaustive TDS Rate Chart along with the threshold limit for the financial Year 2019-20 / Assessment Year 2020-21 after considering Amendment in TDS law proposed by Union Budget 2019. Readers are requested to note that Chart is been further updated to remove Discrepancies in Section 194I. (At 13.00 PM) Relevant Section Nature of […]
The Court also requests the learned ASG to arrange a meeting in her chamber, at least one week prior to the next date of hearing, of the lawyers appearing on behalf of the Petitioner with the Senior Vice President Of the GSTN and an officer of the level of Additional Secretary in the Department concerned, so that there could be a meaningful interaction with a view to mitigating/ eliminating the outstanding issues.
Income Tax Rate Chart for Financial Year 2019-2020 i.e. Assessment Year 2020-21 for individuals and companies, covering the proposed Finance Bill 2019 amendments, are tabulated here under – Income Tax Slab for Individuals – Income Tax slab for Resident Individual (below the age of 60 years as on the last day of the relevant previous […]
Apart from the ongoing World Cup fever, another thing that made headlines was the much-awaited maiden budget of Finance Minister Nirmala Sitharaman. There were huge expectations from the Government to bring in measures to boost mergers and acquisitions (MnA) and restructuring activities in our country. This article summarises the key amendments impacting MnA activity. Let […]
NFRA has made it mandatory for certain ‘body corporates’ to file with it the details of their auditor appointments by July 31 in Form NFRA-1. However, none of the companies registered under the Companies Act, 2013, will be covered by this norm, they added.
GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. It must be filed by the GST registered taxpayers (including those registered under composition levy scheme). It consists of details regarding the outward and inward supplies made/received during the relevant previous year under different tax heads i.e. CGST, SGST & IGST and HSN codes. Basically, it is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year.
The Gujarat High Court has issued notice to Union of India to explain reasons for bringing the amendment in Section 140 of the Central GST Act, seeking to retrospectively disallow transition and carry forward of Education Cess and Secondary and Higher Secondary Education Cess in the GST regime
What is ‘managerial Remuneration’? Managerial remuneration means remuneration paid to managerial personnel like directors, managing directors, whole-time directors and manager. Overall Managerial Remuneration payable: The overall maximum managerial remuneration payable by a public company u/s 197 of companies act, 2013, shall not exceed 11% of net profit for that financial year. Provided that, company can […]
Finance minister, Nirmala Sitharaman became only the Second Indian woman after the former Prime Minister Indira Gandhi, to present a Union Budget. India’s first full-time woman Finance Minister presented the 29th Budget that focused on investment-led growth and reforms, including transforming rural lives, enhancing ease of direct and indirect taxation, harnessing India’s space abilities, strengthening […]
The number of Individuals who file their ITR is very miniscule in the country. Out of around 125 Crores of population the number of Individuals who filed their income tax returns for the financial year ended 31st March 2016 was only 4.67 crores i.e. less than 4% of the population. The government has been taking various […]
