TDS rates for FY 2021-22 (AY 2022-21) considering amendments made by Finance Act, 2021 are as follows: Tax Deducted at Source (TDS) Rates applicable from 1st April, 2021 Tax Deducted at Source (TDS) Rates applicable from 1st April, 2021 S. No Section Residential Status of Deductee #9 206AB applicable #11 Nature of Payment Monetary Limit […]
Finance Act, 2020 has made certain changes in TDS provisions further to provide relief to the taxpayers against hardship caused by COVID-19 Hon. Finance Minister announced reduction in certain TDS rates for period 14 May 2020 to 31 March 2021. The summary of TDS rates applicable for AY 2021-22 is as follows: Tax Deducted at […]
The summary of the provision related to Loan to Directors as per section 185 of the Companies Act, 2013 is given below: A. Compliance required: Section 185(1) 185(2) Facility Provide Loan, Give Guarantee or Provide Security Provide Loan, Give Guarantee or Provide Security Lender Any Other Company Any Other Company Borrower a) Its director b) […]
About the ECLGS: -Under the Scheme, 100% guarantee coverage to be provided by National Credit Guarantee Trustee Company Limited (NCGTC) for additional funding of up to Rs. 3 lakh crore to eligible MSMEs and other small business enterprises -The Scheme aims at reduce the economic distress faced by MSMEs and other small business enterprises by […]
A brief idea about the present practice in Industry: Normally the company pays remuneration to its director for managing day to day affairs of the company and treat the directors as employees for all statutory and legal purposes. The Schedule III Clause (1) of CGST ACT, 2017 treats supply of service in relation to the […]
In pursuance of the Government of India’s efforts to provide relief to law abiding companies and in the wake of COVID 19, the Ministry of Corporate Affairs, has introduced the ‘Revised LLP Settlement Scheme, 2020‘which is already in vogue a first of its kind opportunity to LLPs to make good any filing related defaults, irrespective […]
In pursuance of the Government of India’s efforts to provide relief to law abiding companies and in the wake of COVID 19, the Ministry of Corporate Affairs, has introduced the ‘Companies Fresh Start Scheme, 2020‘ a first of its kind opportunity to companies to make good any filing related defaults, irrespective of duration of default, […]
