"29 March 2020" Archive - Page 2

Trade License- Category, Eligibility, Registration, FAQs

Article explains Categories of trade license, Eligibility for getting a trade license, List of Required Documents for Trade License, Processing time after application for Trade License, Important points and FAQ related to Trade License. Trade License is a license or permission issued by municipal corporation granting permission to carr...

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Posted Under: Corporate Law |

Transfer of Input Tax Credit of GST in case of Demerger

Note on Transfer of ITC on account of Demerger Reference: Circular No.133/03/2020-GST This article is made to brought some clarity in transaction regarding Transfer of ITC in case of Demerger of a Business Unit as per Section 18(3). Before getting into topic it is important to have a brief of Section 18(3). As per Section […]...

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Posted Under: Corporate Law |

Tax Exemption for Startups Entity under section 80-IAC & Angel Tax Exemption (After Union Budget 2020)

Tax Exemption for Startups Entity under section 80-IAC & Angel Tax Exemption (After Union Budget 2020) Startup India is a flagship initiative of the Government of India, intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. Since the launch of the initiative on 16...

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Posted Under: Corporate Law |

Place of Supply under GST- Section wise Analysis

Article explains Place of supply, Place of supply of service where the location of supplier or recipient is outside India and Place of supply of service where location of supplier & recipient in India:- Place of Supply of Goods: Sec Particulars Place of Supply 10(1) Supply of goods within India a) Involves movement of goods […]...

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Posted Under: Corporate Law |

TDS Implications for Freelancers and Agency Owners

Freelancers and Agency Owners: Understand The TDS Implications in the Easiest Possible Way Article explains TDS provisions for Freelancers and Agency Owners in the Easiest Possible Way. It explains What is TDS, What happens to the deducted TDS amount, Can I check if the deductor actually filed the TDS return, If the client/Deductore has d...

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Posted Under: Corporate Law |

18 FAQs on Three Month Moratorium by RBI

The Reserve Bank of India surprised many by permitting banks to allow a moratorium of three months on payment of installments falling due between March 1, 2020 and May 31, 2020. Q1. What is a moratorium on loans? Simply put, a moratorium is an extension, not a waiver. The banking regulator has allowed all banks, […]...

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India-Vision 5 Trillion Dollar Economy

-Prime Minister Modi had announced an ambitious target of a $5 trillion economy for India by 2024. If achieved, India will become the third-largest economy in the world. -The focus is on boosting services sector contribution to $ 3 trillion, manufacturing to $ 1 trillion and Agriculture to $ 1 trillion. -However, the recent economic sl...

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Posted Under: Corporate Law |

RBI press release on Statement on Development & Regulatory Policies

PRESS RELEASE BY RESERVE BANK OF INDIA ON STATEMENT ON DEVELOPMENT AND REGULATORY POLICIES.  RBI on 27.03.2020 issued a press release on STATEMENT ON DEVELOPMENT AND REGULATORY POLICIES which states the following policy announcement. I. LIQUIDITY MANAGEMENT. 1. Targeted Long-Term Repos Operations (TLTROs). 2. Cash Reserve Ratio. 3. Margi...

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Posted Under: Corporate Law |

Contradiction between valuation under section 56(2)(viib) vis-à-vis 56(2)(x)(c)

Section 56(2)(viib) requires a Company (issuer), not being a company in which the public are substantially interested, to issue shares at Fair Market Value (FMV). Any consideration received by such issuing Company in excess of the FMV, to the extent it exceeds the face value of such shall be liable to tax. For the purpose […]...

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Posted Under: Corporate Law |

Finance Package Avid Covid-19

Finance Minister Nirmana Sitharaman on 26th March 2020 announced a relief package worth Rs 1.70 lakh crore to help the nation’s poor tackle the financial difficulties arising from Covid-19 outbreak. Sitharaman said the economic relief package will focus primarily on migrant labourers and daily wage labourers. “A package is rea...

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Posted Under: Corporate Law |

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