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Archive: 07 July 2020

Posts in 07 July 2020

National Pension Scheme Tier II-Tax Saver Scheme 2020

July 7, 2020 6195 Views 0 comment Print

CBDT notified vide Notification No. 45/2020-Income Tax dated 07th July, 2020 that Tax benefit of Section 80C will be available to the Government employee if, they contributes towards Tier-II of NPS. Benefit is notified under Section 80C (2) (xxv) Income-tax Act, 1961 (43 of 1961) raad with  National Pension Scheme (NPS) Tier II-Tax Saver Scheme, […]

MD fined & Sentenced for TDS default of Concerned Company

July 7, 2020 1191 Views 0 comment Print

The issue under consideration is whether in case of default of TDS in company can the Managing Director of the company held responsible for the same?

3 Controversial AAR Rulings and clarifications by CBIC

July 7, 2020 5307 Views 0 comment Print

Another legacy provision that has been included under the GST laws from erstwhile tax regimes is the concept of Advance Rulings. The purpose of advance rulings is to help an applicant who is already a registered taxable person or is liable to be registered to provide clarity and understanding with regards to any supply which […]

Law to protect Internet Companies – Section 230 under Review- Does India needs such a Law?

July 7, 2020 1455 Views 0 comment Print

Law to protect Internet Companies – Section 230 under Review Does India needs such a Law? INTRODUCTION  In the age of Internet wherein entire domain has been transformed into one digital platform. In such era it becomes very crucial to have legal statutes to regulate the companies which are wholly operational on digital platforms. Every […]

GST Exemption on Sanitary Napkins – Opening a Pandora’s Box?

July 7, 2020 34146 Views 1 comment Print

This project discusses the position of taxation on sanitary pads pre and post exemption regime, discussing the effects of the same in both eras. Moreover, it also discusses the consequences of exempting the sanitary napkins completely of GST and suggests what can be the alternatives to tackle the problems of high maximum retail price and less accessibility of the pads to the general masses

Decriminalisation of Compoundable Company Law offences

July 7, 2020 1800 Views 1 comment Print

COVID-19 Pandemic has played a significant role in changing of the companies’ working patterns. The companies are facing plenty of difficulties to fulfill their regulatory, procedural, and technical requirements governed by the Companies Act, 2013 (the Act). The Government of India is initiating various relief packages, to provide aid to the companies to ease their […]

Nidhi Company- Acceptance of deposit by Nidhi Company

July 7, 2020 5574 Views 1 comment Print

ACCEPTANCE OF DEPOSIT BY THE NIDHI COMPANY- Rule-11 of the Nidhi Rules, 2014 1. Net owned fund to deposit Ratio Not More than 1:20 2. Maximum limit of Accepting deposit Not More than 20 Times of its Netowned Funds as per its latest Audited Financial Statements. 3. In case of Company registered under the previous […]

Annual Compliance Audit under SEBI (Investment Advisers) (Amendment) Regulations, 2020

July 7, 2020 2166 Views 0 comment Print

Annual Compliance Audit Under SEBI (Investment Advisers) (Amendment) Regulations, 2020 SEBI has come out with final version of amendment with respect to SEBI (Investment Advisers) Regulations, 2013 vide their press release PR No.37/2020 on 3rd July, 2020. As per the notification these amendments shall come into force on the ninetieth day from the date of […]

New tax regime for Individuals- Features, benefits & conditions

July 7, 2020 83055 Views 5 comments Print

Should you go for the new tax regime for Individuals? what are the features, benefits and conditions? From FY 2020-21, you can choose to pay income tax under an optional new tax regime. The new tax regime is available for individuals and HUFs. ‘Lower tax rates but no deductions/exemptions’ is the key feature. Provisions of […]

Process of verification & change of registered office within same City

July 7, 2020 12000 Views 2 comments Print

Process of verification of registered office and change of registered office within the same city Provisions applicable: Section 12 of Companies Act, 2013 read with rules made thereunder Process of filing of information of notice of registered office after incorporation and changes thereafter: Basically, the companies act specifies on mandatory registered office address to be […]

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July 2020