Finance Minister Smt. Nirmala Sitharaman appreciates CBIC efforts in fighting COVID-19 pandemic; says enhanced revenue collection in recent months should now be the New Normal
Central Government hereby directs that provisions of the section 151B of Customs Act, 1962 shall apply to the Agreement or Arrangement on Cooperation and Mutual Administrative Assistance (CMAA) in Customs matters entered with the 32 contracting State specified below subject to the conditions, exceptions or qualifications specified in the said agreement or arrangement. MINISTRY OF […]
Leave Travel Allowance (LTA) First, we need to understand the concept of Leave Travel Allowance Related Rules and Exemption Guide then we can claim for this allowance. What is LTA? LTA stands for leave travel allowance. This allowance is provided by the employer to cover the travel expenses of the employee when he is gone […]
STARTUP INDIA SEED FUND SCHEME (SISFS) OPERATIVE FROM 01ST JULY, 2021 AIM: The scheme aims to provide startups with financial assistance at their early stages such as proof of concept, prototyping, product trials, market entry and commercialization. Eligibility: A startup, recognized by DPIIT(Department for Promotion of Industry and Internal Trade), incorporated not more than 2 […]
Understand the applicability of Section 194Q of the Income Tax Act with the help of guidelines issued by CBDT. Learn about various resolved issues and adjustments.
RELAXATION IN TIME FOR FILING OF FORM CHG-1/CHG-9 In continuation of the Ministry’s General Circular no. 07/2021, it has been decided to substitute the figure “31.05.2021” and “01.06.2021” wherever they appear in the said circular with the figures “31.07.2021” and “01.08.2021” in respect of relaxation of time for filing of forms related to creation or […]
Madam, what is our fault when we buy the material and pay the tax, the same tax we are not getting easily. Is it our fault whether seller is not complying the compliance within time. You have withdrawn our primary rights and kept on waiting till he fulfill the compliance.
How to determine meaning of Ordinary Course of Business under Related party Transactions? Who determines that the transaction with related party is in the ordinary course of business? Is it the Board or the Audit Committee? ♦ The Act does not clearly lay down tests for determining whether a transaction is in the ordinary course […]
Entrepreneurs are often confused on selecting the best form of the legal entity for their Startup Ventures. In this series, we will discuss in detail with the various forms of Structure with its benefits / limitations which will help Entrepreneurs in deciding for their startup legal form. In India, Entrepreneurs can conduct business in various […]
Ministry of Law and Justice has amended The Mines and Minerals (Development and Regulation) Act, 2021 on 28th March, 2021. Objectives of MMDR Amendment bill, 2021 are: – 1. The bill passed by a voice vote (vote given on a topic by responding orally), is aimed at bringing more transparency in the auction processes of the mines. […]
