The impact of scams has shown that certain volatile values are affected in certain terms on basis and defaults that are done in past runs with the course and progress of settlement.
Registrar of Companies, Gujarat, Dadra & Nagar Haveli issues an ex-parte order imposing penalties on M/s. Yuva Nidhi Company Limited for violating Section 117 read with Section 179 of the Companies Act, 2013. The company and its directors failed to file e-form MGT-14 for the approval of annual accounts for multiple financial years.
Circular No. 6 of 2023, issued by the Central Board of Direct Taxes, Ministry of Finance, Government of India, provides clarifications regarding provisions related to charitable and religious trusts. The circular explains the amendments made by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, and their impact on registration and […]
Central Board of Direct Taxes (CBDT) has recently released a user-friendly Income tax calculator for the financial year 2023-24. The tax calculator aims to assist individuals and businesses in estimating their tax liabilities accurately. This tool is an essential resource for effective tax planning, enabling taxpayers to make informed financial decisions and ensure compliance with […]
India’s Cabinet Approves Rs. 17,000 Crore Incentive Scheme 2.0 to Boost IT Hardware Manufacturing Analysis: The Union Cabinet of India, chaired by Prime Minister Narendra Modi, has given its approval to the Production Linked Incentive (PLI) Scheme 2.0 for IT Hardware. This scheme, with a budgetary outlay of Rs. 17,000 crore, aims to bolster the […]
The Income Tax Department has enabled the Income-tax Returns Form ITR 1 and ITR 4 at the income tax e-filing portal in Online mode with prefilled data. The availability of prefilled data in Income-tax Returns Form ITR 1 and ITR 4 at the income tax e-filing portal for AY 2023-24 is a significant development by […]
Govt exempt individual payments made through international debit or credit cards up to Rs 7 lakh per financial year from LRS limits & these transactions will not attract TCS.
CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities In the Finance Act, 2023, an amendment has been introduced to bring the consideration received from non-residents for issue of shares within the ambit of section 56(2)(viib) of the Income-tax Act, 1961(the Act), which provides that if such […]
Frequently Asked Questions #FAQs w.r.t. Tax Collection at Source (TCS) on foreign remittance through the Liberalised Remittance Scheme.
RBI decided to withdraw ₹2000 denomination banknotes from circulation. Banknotes in ₹2000 denomination will continue to be legal tender.
