"October, 2019" Archive - Page 29

Restriction of 20 percent for availing unmatched ITC – applicability

CBIC has recently issued notification no. 49/2019-CT dated 9 October 2019, through which sub-rule (4) has been inserted in section 36 of the Central Goods and Services Tax Rules, 2017. By virtue of the said insertion, a restriction has been imposed on the taxpayers for availing input tax credit (ITC). ITC of unmatched credits, can [&helli...

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Empanelment of CA Firms with PNB for Concurrent Audit

Punjab National Bank invites applications ON-LINE only from practicing 'Partnership firms of Chartered Accountants for empanelment as Concurrent Auditors in the Bank for conducting concurrent audit of branches....

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Andersen Global announces it’s Indian Member firm: Nangia Andersen LLP

Andersen Global and Nangia Andersen LLP match in terms of values and commitment to transparency, high ethical standards, technical accuracy and quality service to clients. We found immediate synergy with the professionals at Andersen Globa...

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Section 35D of Income Tax Act 1961

Section 35D of the Income Tax Act, 1961 deals with the Amortization of Expenditure incurred in respect of Preliminary Expenses. Preliminary Expenses: These are those expenses which are incurred for setting up of new business i.e., before commencement,  or for extension of existing undertaking or in connection with setting up of a new uni...

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General GST Provisions for MSME Sector

Many decisions have been taken by the GST Council in its various meeting for the betterment and befit of MSME Sector: Details of such major decisions are as below 1. Goods, which are manufactured majorly by the unorganized MSME Sector, have been kept at lower rates or are exempted. For example: Electrical switches and wires, […]...

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Employee Stock Options for Startups

What is Startup India? Startup India, initiated by the Government of India is a flagship initiative launched in January 2016. This initiative is taken by the government of India to boost the ecosystem for supporting innovation and startups in India. Through this scheme, the government is looking forward to driving sustainable economic dev...

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Dormant Company under Company law

Article explains What is Dormant Company, advantages of dormant company, Which company can apply for dormant status, process to apply for Dormant Status of Company, For how long a company can remain dormant company, What are the compliances for dormant company, How can a company become active again? What is Dormant Company? The concept of...

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Notification No. 77/2019-Customs (N.T.) dated: 18th October, 2019

Notification No. 77/2019- Customs (N.T.) [S.O. 3753(E)] 18/10/2019

Road from Nongjri (Barapunji), East Khasi Hills District, Meghalaya, to Kalairag (Bangladesh) between BP No. 1251/11-S-12-S GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 77/2019- Customs (N.T.) New Delhi, the 18th October, 2019 26 Aswina, Saka 1941 S.O. 3753(E). – In exercise of the powers conferred by...

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Extend due date to take Input Tax Credit for Financial Year 2018-2019

As per the above provision the last date for taking input tax credit for the Financial Year 2018 — 2019 is 20th October 2019 We humbly submit the following practical issues before your good self: Last date for Income Tax Audit under section 44AB is extended till 31st October 2019. It is respectfully submitted over and above the tax pay...

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Debts in Ancient India

this modern legislation is working towards bringing a paradigm shift in the manner of resolution of distressed firms in the country, it is important to note that the practice of recovery of debt from the person of the debtor has been a common practice since the inception of insolvency law....

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