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Archive: 30 May 2021

Posts in 30 May 2021

Key decisions in 43rd GST Council Meeting

May 30, 2021 1353 Views 0 comment Print

The 43rd GST Council Meeting was a much-anticipated meeting considering the demands of the industry for extension of compliance requirements and other relaxations and benefits in imports etc. The first few months of year 2021 were one of the best in terms of GST revenue for the government despite the havoc created by the ongoing […]

Maharashtra further extends Lockdown till 15th June 2021

May 30, 2021 5061 Views 0 comment Print

It is necessary to impose various restrictions in different parts of the Maharashtra beyond 7 AM on 1st June, 2021 till 7 AM on 15th June, 2021 to break the chain of transmission effectively. However, it is seen that as per the changing scenario in the State with regard to the COVID 19 conditions in various regions of the State, it is necessary to impose restrictions in line with the conditions in every region

53 MCA Forms eligible for additional fee Waiver under Circular no. 06/2021 & 07/2021

May 30, 2021 44277 Views 11 comments Print

In continuation to the Ministry’s Circular no 06/2021 and 07/2021 dated 3rd May 2021, wherein relaxation was provided to Companies and LLPs in filing of forms without payment of any additional fees where it has been due for filing for a specified period of time, the Ministry has issued a clarification listing out the forms covered […]

Relaxation in GST Return due dates & other compliances with amnesty scheme

May 30, 2021 5640 Views 6 comments Print

In the 43rd GST Council Meeting Certain COVID-19 related relaxations to be provided, it should be a booster does for GST Taxpayers in second waive, in council meeting mainly focus to relaxation on compliances which effected during lock down in mostly state, Relaxation in certain due date of GST Returns and other compliances of F.Y. […]

Unlocking The Lockdown: Logical Steps Needed

May 30, 2021 930 Views 0 comment Print

Before the Unlocking starts I have some suggestions for Government, Trade and Citizen. They can be further discussed with all the stakeholders and a well-planned Unlock should be implemented.

4 Ways to avoid losing money in Stock Market

May 30, 2021 2997 Views 0 comment Print

Trading in Stock Market is quite obviously a high-risk game. When new investors get started in the stock market, many times they are disappointed when their purchase value drops. Not understanding why or what happened, often times the investor makes rash decisions. Common mistakes that people commit include:- averaging your positions, trying to outsmart the […]

Provisional attachment to protect revenue in certain cases [Section 281B]

May 30, 2021 20196 Views 0 comment Print

To protect the interest of revenue, during the pendency of any proceeding for the assessment or reassessment, the Assessing Officer is empowered to make a provisional attachment of any property of the assessee (even though there is no demand outstanding against the assessee). In order to invoke this provision, the Assessing Officer should be of […]

Family Pension Under ESIC to family of demised employees due to Covid

May 30, 2021 6603 Views 0 comment Print

1. Family pension benefit extended to those who have died under Covid. 2. Dependent family members entitled to pension equal to 90% of average daily wage drawn. 3. To be applicable from 24.03.2020 till 24.03.2022. 4. Amount of max insurance benefit increased to 7 lacs. 5. Amount of minimum insurance benefit is 2.50 lacs from […]

Late fees Relief by GST council in 43rd GST Council meeting

May 30, 2021 1389 Views 0 comment Print

In 43rd GST Council Meeting held on 28th May 2021, Government has came up with amnesty scheme as well as scheme of rationalization of Late fees to provide relief to taxpayers if they file their GST return beyond the due date. This article covers the relief provided by the government with regard to old GST […]

Computation of House Property Income

May 30, 2021 17064 Views 0 comment Print

The chapter is divided into the following categories for the purpose of computation: 1. Let out property [Sec. 23(1)] 2. Property not actually occupied by the owner [Sec. 23(2)(b)] 3. Self-occupied property [Sec. 23(2)(a)]. 4. Partly let out and partly self occupied property [Sec. 23(3)] 5. Deemed to be let out property [Sec. 23(4)]. 6. […]

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