Central Government in order to widen and deepen the tax net by bringing participants of e-commerce within the ambit of tax, through the Union Budget 2020-21 has proposed to insert a new section ‘194O – Payment of certain sums by e-commerce operator to e-commerce participant’ with effect from Assessment Year beginning from April 1, 2020.
Elimination of dividend distribution tax and returning to the classical system of dividend taxation was the one of the key highlights of this Union Budget 2020. We will discuss the proposed scheme of the taxation and impact thereon forthwith: The Need: The old system had created a hurdle and DDT was considered as extra cost […]
1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.
(1) These rules may be called the Banning of Unregulated Deposit Schemes Rules, 2020. (2) These rules shall come into force on the date of their publication in the Official Gazette.
Deendayal Port Trust Vs Union of India (Gujarat High Court) On one hand, when the ACES Portal did not permit the petitioner to file revised return for the second time due to which the claim of ITC to the tune of Rs.99,46,810/ was not reflected in the last return in Form ST3 filed by the […]
Section 164 (2) of Companies Act, 2013 enumerates two conditions for the disqualification of directors i.e. non filing of annual returns and financial statements and the non return of deposits or the non payment of dividends. Section 164 (2) is successor to the erstwhile provisions of Section 274(g) under Companies Act, 1956 which also had […]
♠ Section 115BAC is introduced to provide an option to individuals or HUFs to pay tax at reduced slab rates subject to foregoing of certain exemptions / deductions and satisfaction of certain conditions. ♠The option shall be exercised for every financial year where the individual or the HUF has no business income and in other […]
Section 16: Rectification of Name of the company If through inadvertence or otherwise, on company registration or on its registration by a new name, is registered by a name which is:- By Central Government: In the opinion of CG The Name of the company is identical with or too nearly resembles the name of existing […]
Q.1 New GST Return System Ans: In 37th GST Council Meet it was decided that new returns for GST will be implemented from April 2020, and the format was earlier decided by 31st GST Meet. In the 31st GST Council Meet (Dec 2018), it was decided that a New Return System under GST would be […]
The Constitution (Amendment) Bill, 2020 — introduced in Rajya Sabha; Bill to encourage — ‘two child policy-small family norms‘- The Constitution (Amendment) Bill, 2020 as a private member bill was introduced in the Rajya Sabha on February 7 seeking to introduce a Directive Principle in the Constitution with respect to population control measures. As the reason […]
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