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Archive: 12 February 2020

Posts in 12 February 2020

Section 194O TDS on payment by e-commerce operators & aggregators

February 12, 2020 11691 Views 10 comments Print

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.

Union Budget 2020: Dividend Taxation- Reopens old wounds!

February 12, 2020 3750 Views 0 comment Print

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 […]

IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2020

February 12, 2020 852 Views 0 comment Print

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.

Banning of Unregulated Deposit Schemes Rules, 2020

February 12, 2020 7533 Views 0 comment Print

(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.

ITC cannot be denied on the ground of technical glitches: Gujarat HC

February 12, 2020 2070 Views 0 comment Print

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 […]

Disqualification of Director – Whether Right or Wrong

February 12, 2020 2976 Views 0 comment Print

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 […]

Budget 2020- Personal Taxation / Income Tax Rates (Individual/HUF)

February 12, 2020 3672 Views 0 comment Print

♠ 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 […]

Rectification of Name of Company | Section 16 | Companies Act, 2013

February 12, 2020 10146 Views 0 comment Print

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 […]

New GST Returns – Amendments Applicable From April 2020

February 12, 2020 7638 Views 5 comments Print

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 […]

Constitution (Amendment) Bill, 2020-two child policy-small family norms

February 12, 2020 3930 Views 0 comment Print

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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