MCA notifies substituted Form NDH-1, NDH-2 & NDH-3 and issued revised FORM NO. NDH-1- Return of Statutory Compliances, FORM NO. NDH-2 – Application for extension of time and FORM NO. NDH-3 – Return of Nidhi Company for the half year. Government of India Ministry of Corporate Affairs Notification New Delhi, 03rd Feb, 2020 G.S.R. 81(E).— […]
♦ The budget delivered credible numbers in terms of its fiscal deficit estimates, raising the deficit by 50bps this year and the next. The fiscal deficit was raised to 3.8% for 2019-20 and to 3.5% for 2020-21. The budget used up the 0.5% GDP leeway provided by the FRBM instead of sticking to the fiscal […]
CBIC extends the last date for furnishing of annual return/reconciliation statement in FORM GSTR-9/FORM GSTR-9C for the period from 01.07.2017 to 31.03.2018 Notification No. 06/2020-Central Tax dated 03rd February 2020 in a staggered manner for different groups of States to 5th and 7th February 2020. Here it is interesting to note that CBIC has announced […]
Tax Research Foundation presents here Clause by Clause Analysis of Union Budget 2020-21. Analysis is divided in nine parts which are Tax Rates for Financial Year 2020-21, New Optional Individual Tax Rate, Changes in Various Business Taxation Provisions, Changes Capital Gain Taxation, Changes in International Tax, Tax Administration and Compliance, Amendment in Provisions related to […]
I. Rates for deduction of income-tax at source during the financial year (FY) 2020-21 from certain incomes other than Salaries. The rates for deduction of income-tax at source during the FY 2020-21 from certain incomes other than “Salaries” have been specified in Part II of the First Schedule to the Bill. The rates for all […]
Article contains Explanatory Memoranda to Notification Nos. 01/2020-Customs to 12/2020-Customs, dated 2nd February, 2020, Explanatory Memoranda to Notification Nos. 09/2020-Customs (N.T.) to 10/2020 and Explanatory Memorandum to Notification No. 01/2020-Customs (SG), dated 2nd February, 2020. Explanatory Memoranda to Notification Nos. 01/2020-Customs to 12/2020-Customs, dated 2nd February, 2020: – S. No. Notification No. Description 1. 01/2020-Customs, […]
Presenting the first Union Budget of the third decade of the 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long term measures.
Finance Bill, 2020 (BILL No. 26 OF 2020) dated 01st February 2020 Honorable Finance Minister Nirmala Sitharaman has presented Budget for 2020-21 in Parliament today and proposed lots of Significant Changes in Direct and Indirect Taxes. Full Text of the same is as below:- LOK SABHA ———— The following Bill was introduced in Lok Sabha […]
Please find below exhaustive summary of Changes in Customs, Central Excise, GST law and rates that have been proposed through the Finance Bill, 2020, which was introduced in Lok Sabha by Finance Minister on 1st Februare 2020
Sale of Amway, Oriflame, etc. on e-commerce platforms like Amazon was permissible for ensuring free flow of trade as the Direct Selling Guidelines were merely advisory in nature.
