"29 July 2019" Archive

CBIC extends last date to furnish FORM GST CMP-08 to 31.08.2019

Notification No. 35/2019 – Central Tax / G.S.R. 534(E) (29/07/2019)

CBIC extends the last date for furnishing Form GST CMP-08 Quarterly Statement (Quarter April -June 2019 of Part thereof) by Composition taxpayers for purpose of payment of Self Assessed  tax till 31.08.2019 vide Notification No. 35/2019 – Central Tax dated 29th July, 2019. GST CMP-08 is a one page statement containing the outward suppl...

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Rera Registration or Exemption of Real Estate Project and Real Estate Agent

Applicability of RERA registration / Exemption of  Real Estate Project and Real Estate Agent Section 3 & 9 of RERA (Real Estate Regulation and Development Act, 2016) Conditions for Registration / Exemption under RERA  1. The area of land proposed to be developed <= 500 sq meters(5382 sqft) 2. The no. of apartments proposed to be...

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Practical Aspects on Completion of Assessments regarding Substantial Cash Deposits made during demonetization

Practical Aspects on Completion of Assessments regarding Substantial Cash Deposits made during demonetization We all remember the date 08 November 2016 when our Hon’ble Prime Minister Shri Narendra Modi took huge step and demonetized the specified bank notes (SBN) i.e. Rs.500 and Rs.1000 currency notes. This was the step taken to clean ...

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What to do if TDS u/s 194DA has been deducted and shown in 26AS

There is general perception among people that amount received on maturity of life insurance is exempt from income tax. However the same is not true. Receipt from life insurance may occasion on 2 events: 1. On death of the person insured (Death proceeds) 2. On maturity of the policy in the normal course (maturity proceeds) […]...

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Note on filing of Form DIR-3 KYC

This is to inform you that MCA has vide its notification dated 25th July, 2019, mandated the filing of e-Form DIR – 3 KYC for the following – 1. For Individuals to whom DIN was allotted on or before 31st March, 2018 and who have filed the said form earlier: a. If there is no change […]...

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Changes in Rules related to filing of DIR-3-KYC

The Companies (Appointment and Qualification of Directors) Rules, 2014 has been amended as per the notification dated 25th July,2019. These rules are called Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 and has brought about some changes in the Directors KYC filing. CHANGE IN RULE 11 Earlier in Rule 11...

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Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019- Benefit & Eligibility

Benefits of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019: ♦ Relief from payment of tax dues to the extend of 50% to 70% of the tax dues depending on the amount of tax dues involved. ♦ Relief from payment of interest and penalty. ♦ Person discharged not be liable for prosecution. Details Amount (In Rs) […]...

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How to get FSSAI Registration?

Food Safety and Standards Authority of India (FSSAI) which has the supreme authority related to food like manufacturing, processing, packing, transportation and its distribution. It has become mandatory for everyone to acquire food license for everyone who are in the chain which requires the food handling at any stage. License or registra...

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Key Changes In ITR-1 And ITR-2 Forms For FY 2018-19

The income tax return (ITR) forms for FY 2018-19 notified by the government are different from those used to file the previous year’s returns, keeping the changes in income tax laws made in Budget 2018 for FY 2018-19 and onwards. Apart from that, there are other changes as well in the ITR forms which you […]...

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Why to file ‘Income Tax Return’- Major Benefits

Major Benefits of Income Tax Returns: 1. Easy Loans Approvals: Majority of Banks ask for a copy of Income tax returns for at least 3 consecutive years, so if you are planning for a loan in future then it can help you for easy loan approvals like Home Loan, Personal Loan etc....

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