"23 March 2020" Archive

EPFO issues Directions for timely credit of monthly Pension to EPS Pensioners

EPFO is disbursing monthly pension to more than 65 Lakh pensioners every month under the Employees’ Pension Scheme, 1995.  Due to the corona virus pandemic, lock down has been declared in various parts of the country.  In order to ensure that no inconvenience is caused to the pensioners on account of the prevalent situation, Central [...

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Posted Under: Corporate Law |

Instructions to maintain uninterrupted supply of food products for citizens

D.O. No. 07/DPIIT/2020-Secy (23/03/2020)

In the wake of precautions being taken by various states for prevention of COVID 19 through Lockdowns and various other precautionary measures, it is seen necessary to issue clear instructions from DPIIT to State Authorities to not obstruct and call for closure of food processing units, since they manufacture food stuff and to maintain un...

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Pesticide Management Bill, 2020 introduced in Rajya Sabha

Bill No. XXII of 2020 (23/03/2020)

(1) This Act may be called the Pesticide Management Act, 2020. (2) It shall come into force on such date as the Central Government may, by notification, appoint:...

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Tripura HC allows use of A4 size paper

It is hereby ordered that henceforth, for the purpose of filing of pleadings, petitions, affidavits or other documents in the High Court and all other Courts in the State of Tripura, the following specifications of paper and font type would be applicable:...

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Capital Gain was liable to be taxed at the time of receipt of last cheque when rights on immovable property extinguished

Seshasayee Steels P. Ltd. Vs ACIT (Supreme Court)

Assessee entered into an agreement to sell a property with Builders Limited for a total sale consideration of Rs.5.5 crores. Pursuant to this agreement to sell, a Power of Attorney was by which, assessee appointed one director of Builders Ltd. to execute and join in execution the necessary number of sale agreements and/or sale deeds in re...

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PCIT Request CBDT to extend time-barring date of 31st March 2020

Principal Chief Commissioner Of Income-Tax Shri Satish Kumar Gupta from Mumbai has requested the  CBDT  for Extension of date of Limitations under Income Tax Act, 1961 due to spread of Covid-19 Virus and related Impact on working of Department. He referred to lock -down and restricted movement to contain the spread of the viral infectio...

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Posted Under: Corporate Law |

25 Points to keep in mind prior to closing of financial year

Reminders for Companies/Management Related to year end Tax Compliances With the financial year (2019-20) approaching an end, each business has accelerated its tax compliances. Amidst this hassle, here are some key pointers that every business/management must keep in mind prior to closing their financial year: 1. TDS Deduction as per ‘Ye...

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Posted Under: Corporate Law |

Finance Act 2019 amendments (Applicable for AY 2020-21 i.e. FY 2019-20)

FINANCE ACT 2019- AMENDMENTS (Applicable for AY 2020-21 i.e FY 2019-20) Some important amendments made by Finance Act 2019 to be noted while filing returns for AY 2020-21 1. Rebate under Section 87A: The rebate is available to a resident individual if his total income does not exceed Rs. 5,00,000. The amount of rebate shall […]...

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Posted Under: Corporate Law |

FAQs on Filing CAR Form With MCA

FAQs on filing Form CAR (Company Affirmation of Readiness towards COVID-19) As all of you are aware that Ministry of Corporate Affairs (MCA) issued advisory on preventive measures to contain spread of COVID-19 to all Chairman, Managing Director and Chief Executive Officer. With respect of it, they will deploy “Company Affirmation of Rea...

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Posted Under: Corporate Law |

What relief taxpayers & professionals expect from Govt in Corona Virus Crisis

COVID-19 virus is indeed a big epidemic. But 31st March also a very important deadline which cannot be ignored at all. Inspite of the widespread of the Corona Virus, the government has not yet extended the due dates for tasks which are to be wrapped up before 31st March 2020....

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Posted Under: Corporate Law |