SMEs face a number of problems on a day-to-day basis. The internal and external issues that keep arising hinder the working of the organization which ultimately has an adverse effect on the financial aspect of the business. In the previous blog posts, we have explored a number of topics pertaining to SMEs – MSME license, […]
With a view to promote the Government of India’s efforts to provide relief in the wake of COVID 19, the Ministry of Corporate Affairs has introduced the ‘LLP Settlement Scheme, 2020‘ to provide an opportunity to the Limited Liability Partnerships’ (LLPs) to make good any filing related defaults, irrespective of duration of default, and make […]
The country is dealing with a very challenging situation due to COVID-19 Pandemic. Many parts of the country have been placed under lock down to enforce social distancing. To deal with the crisis, Employees’ State Insurance Corporation (ESIC) has undertaken multiple steps to provide relief to its Stakeholders and members of public.
Reasons for which this scheme introduced by the Ministry of Corporate Affairs- -Filling of delay documents/returns attracts 100 per day of default for each return and documents which put the financial burden on the LLP that’s why this scheme is introduced for waiver of additional fees. -Regulators don’t have records for inspection because of failure […]
During the last two days, there have been some reports in media about various protocols etc of prospective travellers by trains. They have also been mentioning about number of trains starting from a given date.
Employees Provident Fund Organisation (EPFO), an statutory body under Union Ministry of Labour & Employment has processed about 1.37 lakh claims across the country disbursing an amount of Rs. 279.65 crore under a new provision especially formulated by amending the EPF Scheme to help subscribers fight Covid-19.
The present article highlights provisions of section 10(10BC) of the Income Tax Act, which provides exemption towards amount received in case of any disaster. Exemption provisions of section 10(10BC) of Income Tax Act– Provision of section 10(10BC) exempts any amount received / receivable by an individual or legal heir of the individual on account of […]
Direct Tax & International Tax Perspective–Part I Income Tax Returns 1. Whether there is any extension of due dates in filing the belated returns for the Financial Year 2018-19? Answer: Yes, due date income tax return for Financial Year 2018-19 was 31st March 2020. The Ministry of Finance, vide Press Release dated 24.03.2020 has extend the due […]
Amidst this coronavirus crisis, a lot of fake news, misinformation and hate speech messages are being circulated on instant messaging platforms, like WhatsApp. Below are some points the members and admins of such groups on messaging platforms should take note of.
Any business is run on finance, without finance it is surely going to crash. And the way to keep your business afloat is with the help of the financial statements. The financial statement of your company typically consists of your balance sheets, cash flow statements and your income statements. Careful study of these three facets […]
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