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Archive: 12 February 2021

Posts in 12 February 2021

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices?

April 29, 2024 7902 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Join Live Webinar and get Book on Section 43B(h)

April 29, 2024 5196 Views 1 comment Print

Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down intricacies of Section 43B(h)

Update Your IEC Yearly or face Deactivation

February 12, 2021 146910 Views 35 comments Print

All IEC holders are now legally required to update and validate their IEC Details, even if there are no changes, from April to June once every year through Online system, failing which their IEC shall be de-activated and no import or export activity will be possible. IEC related provisions in Chapter-1 and Chapter-2 of Foreign […]

Income Tax Rates for FY 2020-21 & FY 2021-22

February 12, 2021 1136178 Views 33 comments Print

Rates of Income Tax for Financial year (FY) 2020-21 i.e. Assessment Year (AY) 2021-22 and FY 2021-22 (AY 2022-23) applicable to various categories of persons viz. Individuals, Firms, companies etc. Introduction This article summarizes Tax Rates, Surcharge, Health & Education Cess, Special rates, and rebate/relief applicable to various categories of Persons viz. Individuals (Resident & […]

Quarterly Return Monthly Payment (QRMP) scheme Analysis

February 12, 2021 12861 Views 2 comments Print

This is an attempt to apprise you in detail of the Quarterly Return-Monthly Payment (QRMP) scheme has recently been launched by the Central Board of Indirect Taxes and Customs (CBIC). Please note that a Quarterly Return-Monthly Payment (QRMP) scheme has recently been launched by the board and a circular bearing no. 143/13/2020-GST dated 10 November […]

MCA revises Benches of NCLT at various Union territories

February 12, 2021 753 Views 0 comment Print

MCA revises / Notifies Benches of NCLT at UT of Jammu & Kashmir, Ladakh, Dadra and Nagar Haveli and Daman and Diu MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 12th February, 2021 S.O. 654(E).—In exercise of the powers conferred by sub-section (1) of section 419 of the Companies Act, 2013 (18 of 2013), the […]

Highlights of Union Budget w.r.t GST & Income Tax

February 12, 2021 2910 Views 3 comments Print

Changes under Income Tax – Union Budget 2021: 1. No Changes in Income Tax Slab rates. 2. Income Tax Return need not be filed by Senior citizens provided that: He is Resident of India and of the age 75 years or more during the previous year He has only Pension and/or Interest Income He shall […]

GST: No more Good & Simple

February 12, 2021 2763 Views 1 comment Print

Journey well started: GST was claimed to be Good & Simple Tax by the Modi Government. The world acknowledged the reform as game changing too. Indian business houses too gave warm welcome to the law. Teething problems were bound to be there initially. No Law can be robust or full proof from day one. But […]

Investment in NBFCs from FATF non-compliant jurisdictions

February 12, 2021 1005 Views 0 comment Print

Investors in existing NBFCs holding their investments prior to the classification of the source or intermediate jurisdiction/s as FATF non­compliant, may continue with the investments or bring in additional investments as per extant regulations so as to support continuity of business in India.

EPFO guideline for correction in name father/spouse/gender

February 12, 2021 14382 Views 1 comment Print

Correction in member profile has been allowed to rectify the errors in name, father/husband name, DOB and gender. However, it has been observed that complete name and profile change has been made in certain cases leading to fraudulent withdrawals.

IRDAI Advises All Insurance Firms For Issuance of Digital Insurance Policies Via Digilocker

February 12, 2021 552 Views 0 comment Print

IRDAI advises all Insurance companies for issuance of Digital Insurance Policies via DigiLocker, It will lead to better customer experience with faster claims processing and settlement, reduction in disputes and reduction in fraud

15th Instalment of Rs. 6000 crore released to States to meet GST compensation shortfall

February 12, 2021 270 Views 0 comment Print

15th Instalment of Rs.6,000 crore released to the States to meet the GST compensation shortfall. A total amount of Rs. 90,000 crore released so far to all States and UTs with legislature. This is in addition to additional borrowing permission of Rs.1,06,830 crore granted to the States.

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