CBIC provide one time amnesty by lowering/waiving of late fees for non furnishing of FORM GSTR-3B from July, 2017 to January, 2020 and also seeks to provide relief by conditional waiver of late fee for delay in furnishing returns in FORM GSTR-3B for tax periods of February, 2020 to July, 2020 vide Notification No. 52/2020-Central […]
CBIC notifies lowered interest rate for a prescribed time for tax periods from February, 2020 to July, 2020 for delayed filing of GSTR 3B vide Notification No. 51/2020-Central Tax Dated 24th June, 2020. Ministry of Finance (Department Of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 51/2020-Central Tax New Delhi, the 24th June, […]
CBIOC notifies Central Goods and Services Tax (Seventh Amendment) Rules, 2020 and amended Rules 7 of the CGST Rules 2017 with a new entry for Composition tax payers who are providing services will be taxed at rate of 6% (CGST – 3% & SGST/UTGST – 3%) vide Notification No. 50/2020-Central Tax Dated 24th June, 2020. […]
CBIC brings into force Sections 118, 125, 129 & 130 of Finance Act, 2020 in order to bring amendment to Sections 2, 109, 168 & 172 of CGST Act w.e.f. 30.06.2020 vide Notification No. 49/2020-Central Tax Dated 24th June, 2020. Extract of Sections 118, 125, 129 & 130 of Finance Act, 2020 118. Amendment of […]
It has been observed that many digital platforms have emerged in the financial sector claiming to offer hassle free loans to retail individuals, small traders, and other borrowers. Banks and NBFCs are also seen to be engaging digital platforms to provide loans to their customers.
Vide Income Tax Notification No. 35/2020 dated 24.06.2020 govt extends Due date for ITR for FY 2018-19 upto 31.07.2020, Last date for investments to be eligible for deduction under Chapter VI-A i.e. 80C, 80D etc for the FY 2019-20 [AY 2020-21] upto 31.07.2020, Last date for ITR for FY 2019-20 [AY 2020-21] upto 30.11.2020, Last […]
MCA has issued Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2020 which are applicable from 23rd June 2020 and by this Registration of details of Independent Directors in Independent Directors Data Bank who were director on 1st December 2019 is been allowed till 30th September 2020. Revised rules now provide that Every individual […]
Companies (Meetings of Board and its Powers) Second Amendment Rules, 2020- MCA further relax the requirement of holding Board meetings with physical presence of directors under section 173 (2) read with rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014 for approval of the annual financial statements, Board’s report, etc. Such […]
MCA amends Clause (vi) of CSR Schedule VII of Companies Act 2013 to includes measures for the benefit of Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their dependents including widows vide Notification No. G.S.R. 399(E) dated 23rd, June 2020. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 23rd, June […]
At a time when a fragile economy is sucking the lifeblood out of most people, making regular loan payments is challenging. For those who have taken home loans, where the EMIs are incredibly high, this challenge becomes tougher. Cutting down EMI payments seems to be an efficient way of surviving in a lousy economy. As […]
