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Archive: 02 September 2020

Posts in 02 September 2020

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6993 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Income Tax Department carries out searches in Srinagar & Kupwara

September 2, 2020 1806 Views 0 comment Print

The Income Tax Department has carried out simultaneous search and seizure operations on 2nd September, 2020 in the case of three prominent businessmen in Srinagar and Kupwara. These operations have, prima facie, led to the detection of huge amount of undisclosed income, seizure of unaccounted assets and incriminating evidence and involvement in benami transactions by these three groups. 

ITR Filing Compliance Check Functionality for Scheduled Commercial Banks

September 2, 2020 2016 Views 0 comment Print

The data on cash withdrawal indicated that huge amount of cash is being withdrawn by the persons who have never filed income-tax returns. To ensure filing of return by these persons and to keep track on cash withdrawals by the non-filers, and to curb black money, the Finance Act, 2020 w.e.f. 1st July, 2020 further amended Income-tax Act, 1961 to lower the threshold of cash withdrawal to Rs. 20 lakh for the applicability of TDS for the non-filers and also mandated TDS at the higher rate of 5% on cash withdrawal exceeding Rs. 1 crore by the non-filers.

Detailed analysis of GSTR 2B

September 2, 2020 62814 Views 6 comments Print

We all have got an abundance of opportunities to enhance our skills in this pandemic. GSTN also has taken due benefit of the same by adding new functionalities on the portal, most prominent being enabling of form GSTR 2B. In the 39th Council meeting held on 14.03.2020, Shri Nandan Nilekani addressed the system related issues […]

How To Check Date of Filing GSTR-3B, GSTR-1 & Other Forms

September 2, 2020 49560 Views 0 comment Print

In order to do various compliance or determining exact amount of interest payable, we have to determine the date of filing of GSTR-3B, GSTR-1 & other forms. This article discusses various ways through which this can be done. Some of them are mentioned below:- ♦ View “SHOW FILING TABLE”on the portal On GST Portal, In […]

Incorporation of Company through SPICe+ Form

September 2, 2020 13146 Views 0 comment Print

Incorporation of Company through SPICe+ The SPICe+ stands for Simplified Performa for incorporating Company electronically , SPICe+ aims to offer about ten services by three Central Government Ministries and departments (Ministry of Corporate Affairs, Ministry of Labour and the Department of Revenue in the Ministry of Finance) and one State Government (Maharashtra). This form is […]

Indian Economy’s GDP Tested (-VE) | GDP & Methods of Calculation

September 2, 2020 2739 Views 1 comment Print

What is Gross Domestic Product?? Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period, often annually. The Gross Domestic Product measures the value of economic activity within a country.The growth rate of real GDP is often used as an […]

Understanding OECD’s Two-Pillar Approach

September 2, 2020 3717 Views 0 comment Print

In this dynamic era, the brick and mortar business models are turning digital and Multi-National Companies (MNCs) are effectively operating out of various jurisdictions without having a physical presence. From a taxation perspective, it is way more challenging when the value creation, income generation and the adjoining taxability cut across various countries. The Organization for […]

Form DIR-2- Consent to act as a Company Secretary of Company

September 2, 2020 39996 Views 0 comment Print

Form DIR-2 Consent to act as a Company Secretary of the Company (According to 170(2) and 203(1) of the Companies Act, 2013)  To (The Company) Address ———— ———————– Subject: Consent to act as Whole Time Company Secretary I, ————————-, hereby give my consent to act as Company Secretary of “The Company”——————–, according to Section 170(2) […]

Joint DGFT cannot review his own orders: HC

September 2, 2020 1737 Views 0 comment Print

Simplex Infrastructures Ltd. Vs. Union of India (Madras High Court) Joint DGFT has no powers to review his own orders in view of Section 16 of the FTDR Act. There can be no review of an earlier refund except in accordance with the provision of Section 16 of the FTDR Act, which only permits the […]

Company Name Change under Companies Act, 2013

September 2, 2020 2979 Views 0 comment Print

Section 13 of the Companies Act, 2013 deal with change of name which says that the name of the company can be changed by a special resolution and with the approval of the Central Government. Approval of Central Government is not required if the change relates to the addition/ deletion of the words ‘private’ to […]

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