DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ Due to the outbreak of Novel Covid-19, Finance Minister has announced several relief measures on 24th March 2020– √ Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020. √ Aadhaar-PAN linking date to be extended from 31st […]
The problem was arising for the small taxpayers who supposed to deposit the GST amount immediately on account of supply of service and the payment for the same has been received by them after 6 months or even more in some cases. It becomes very difficult for the small operators to pay the tax amount […]
Referring to our News Update in relation to measures under discussion with Commerce Ministry on account of COVID-19 pandemic, Director General of Foreign Trade has issued various Notifications, Trade Notices and Public Notices to address relief / extension of validity of various schemes and applicability of Foreign Trade Policy beyond 31 March 2020. Please find […]
The Auditing Standards were formulated by Auditing Standard Board of Institute of Company Secretaries of India and issued by Council of ICSI. These Auditing Standards is effective from 01, July 2019 but on re commendatory basis , these are made mandatory from 01, April , 2020. These standards are applicable for audit by Practicing Company Secretaries. AIM […]
CBDT Measures on issue of Non-TDS Deduction certificate or Lower rate deduction certificate during COVID Lockdown Introduction: We all know that the country is facing an outbreak of COVID-19 virus due to which the financial conditions of the assessee is in a bad state due to complete lockdown in the country. Due to the global […]
In order to boost the economy & give relief to the corporates, the Government has introduced various schemes. One of the recently introduced schemes is LLP SETTLEMENT SCHEME, 2020
This article focuses on provisions of The Income Tax Act, 1961 and rules made there under relating to Set Off and Carry Forward of Losses. This is a complete guide to set off and carry forward the losses including the set off of losses from business and profession from presumptive income. A. There are two […]
For all MahaRERA Registered projects where completion date, revised completion date or extended completion date expires on or after 15th March 2020, the period of validity for registration of such projects shall be extended by three months. MahaRERA shall accordingly issue project registration certificates, with revised timelines for such projects, at the earliest.
Analysis of Definition of Capital Assets being Securities for the prospective of Non Residents including Foreign Institutional Investors as per Section 2(14) of the Income Tax Act, 1961 read with certain important circulars and letters issued by the Central Board of Direct Taxes.
Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020-Overview Various relief measures were announced by Finance Minister Smt. Nirmala Sitharaman on 24th March, 2020 and to give effect to that relief measures Government of India notifies Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31.03.2020. These relief measures are related to […]
