"September, 2020" Archive - Page 131

Daughters can be Karta of HUF & have same rights & liabilities as sons

A Hindu Undivided Family (HUF) is known as a Joint Hindu Family under the Hindu Law. It comprises all persons lineally descended from a common ancestor and living under a common roof and joint in estate, food and worship. Yet, an HUF can exist without holding any property. There are two schools of law governing HUF in India: Mitakshara an...

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Posted Under: Income Tax |

CBIC further extends Due date of GST compliance to 30.11.2020

Notification No. 65/2020–Central Tax [G.S.R. 542(E)] 01/09/2020

Notification No. 65/2020 – Central Tax dated 01.09.2020 Seeks to extend due date of compliance by any authority which falls during the period from 20.03.2020 to 29.11.2020 till 30.11.2020. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 65/2020–Central Tax New Delhi, the 1...

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Import by EOU/EHTP/STP/BTP without payment of duty

Standing Order No. 23/2020-JNCH 01/09/2020

Import by EOU/EHTP/STP/BTP without payment of duty by Following Rule 5 of Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017- The procedure required to be followed by the EOUs as well as Customs Officers under Rule 5 of Customs (Import of Goods at Concessional Rate of duty) Rules, 2017, is that the EOUs are required to pro...

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TCS Under Income Tax – Provisions Applicable from 01.10.2020

Tax Collected at Source Under Income Tax – New Provisions Applicable from 01 October 2020 Introduction Finance Act, 2020 introduced 3 new provision under Tax Collected at Source (“TCS”): TCS on foreign remittance through LRS; TCS on selling overseas tour packages; and TCS on sales of any goods TCS unlike TDS is required to be [&hell...

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Posted Under: Income Tax |

Procedure For Incorporation of Private Limited Company Through Spice+

The growing Indian economy is luring the foreign investors as well as Indian investors to start the business in this rapid growing nation. To cope up with the increasing rate of incorporations and to ease the business, MCA had constantly come up with some relaxing provisions and also to cut down the average time taken […]...

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Posted Under: Income Tax |

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June 2021