Interest and Late fees Schedule for GSTR-3B & GSTR-1 from month February 2020 to June 2020 Know Interest and Late Fees applicable in case you Missed filing GSTR 3B & GSTR 1 by due dates Return Month Turnover Original Due date Extended due date Interest Late Fee GSTR 3B Feb- 2020 Less Than Rs 1.5 […]
Why is India a preferred destination for foreign investment? India is currently one of the fastest economy in the world. Foreign investors have been bullish on financial services, IT, pharma and FMCG. Private banks are preferred over public banks due to superior margin, asset quality resilience and higher capitalization. With manufacturing sector gathering momentum backed […]
Maintaining books of accounts is often considered as a tedious and unwanted process. Maintaining proper books of accounts is not only mandatory but it is also beneficial as it helps to compute the amount of tax liabilities, input tax credit (ITC), refunds etc. They act as proof for further litigations. Provision in Law for Maintaining […]
What is an important test to determine whether GST is leviable on services provided by directors? How are services provided by a managing director to a body corporate covered under GST?
The factor of ‘reason to believe’ is extremely crucial while conducting search and seizure proceedings. The same reasons are also required to be on record. Why are reasons to believe to be considered important? And what impact can it have?
As per IBC, once an entity defaults certain threshold amount, Corporate Insolvency Resolution Process(CIRP) gets triggered and the management of such entity (Corporate Debtor) and its assets vest with an interim resolution professional (IRP) or resolution professional (RP). It continues to run the business and operations of the said entity as a going concern till […]
Govt Introduce new Platform CHAMPIONS for MSMEs Know 36 Subsidy & Financial Assistance Scheme for MSMEs and Process to apply Online CHAMPIONS stand here for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. Accordingly, the name of the system is CHAMPIONS. As the name suggests, the portal is basically […]
Additional Information which will form part of New Form 26AS made by CBDT from 1 June 2020 The Finance Act 2020 has introduce new section 285BB of Income Tax Act, to implement revised Form 26AS. What Section 285BB of Income Tax Act Says? The prescribed income-tax authority or the person authorised by such authority shall […]
Learn about the key changes in ITR (Income Tax Return) forms for the financial year 2019-20. Understand new rules for tax-saving investments, filing eligibility, and more.