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No change in FPI investment Limit for G-secs & SDLs for FY 2020-21

April 15, 2020 801 Views 0 comment Print

The limits for FPI investment in Government securities (G-secs) and State Development Loans (SDLs) shall remain unchanged at 6% and 2%, respectively, of outstanding stocks of securities for FY 2020-21.

CBDT issues Refunds worth Rs 4250 crore issued in a week

April 15, 2020 597 Views 0 comment Print

Central Board of Direct taxes (CBDT) today said that it has already issued over 10.2 lakh refunds totalling to around Rs. 4,250 crore as on 14th April 2020. These refunds are over and above the 2.50 crore refunds already issued in FY 19-20 till 31st March 2020 totalling Rs 1.84 lakh crore.

Salary Income and Tax Implications for AY 2020-21

April 14, 2020 2760 Views 0 comment Print

What is Salary? ‘Salary’ is a fixed and regular remuneration made by an employer to an employee on a periodic basis. The actual receipt of salary in the previous year is not material as far as its taxability is concerned. The existence of employer – employee relationship is absolutely essential for taxing a particular receipt […]

MCA further clarifies on passing of ordinary & special resolutions- COVID-19

April 13, 2020 18090 Views 0 comment Print

Further Clarification vide General Circular No 17/2020 on passing of ordinary and special resolutions by companies under the Companies Act, 2013 and rules made thereunder on account of the threat posed by COVID-19

Sovereign Gold Bond Scheme-Procedural Guidelines – Consolidated

April 13, 2020 7152 Views 0 comment Print

Sovereign Gold Bond Scheme of Government of India-Procedural Guidelines-Consolidated- Sovereign Gold Bonds are issued by Government of India as Government of India Stock in accordance with Section 3 of Government Securities Act, 2006

CBIC issues ITC refund under GST of Rs. 2800 crore in 10 days

April 13, 2020 786 Views 0 comment Print

M. Ajit Kumar, Chairman Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs North Block, New Delhi-110 001 Tel. No. +91-11-23092849, Fax No. : +91-11-23092890 E-mail : [email protected] Date: 13th April 2020 D.O.No. 10/CH(IC)/2020 Dear Colleague The past week has been one where the department has enhanced its credentials as a […]

COVID-19- Liability of employers to remunerate its employees- Legal Opinion

April 11, 2020 23757 Views 0 comment Print

The Querist has sought opinion with respect to the liability of the employers to remunerate its employees in light of situations like the present spread of pandemic namely COVID-19, owing to which the Central Government has declared a lockdown of 21 days starting from 25.03.2020, which eventually has lead to cessation of work or adversely affected the output of the industry/companies.

Relax Regulation for Depositories and Participants: ICSI

April 10, 2020 1449 Views 0 comment Print

ICSI Request for relaxation from compliance with the provisions of Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018

Interest liability for filing Form GSTR-3B and other relief measures

April 10, 2020 2739 Views 0 comment Print

Summary of Measures by CBIC to provide relief to taxpayers in view of COVID-19 pandemic- which includes relief from Interest liability for delayed of filing Form GSTR-3B, Extension in Due dates of GSTR 5. GSTR 6. GSTR 7. GSTR 8, Relief to Composition Taxpayers, Extension of validity period of E-way Bill (EWB) and Waiver of […]

Covid 19- Trade Friendly Initiatives by CBIC

April 9, 2020 927 Views 0 comment Print

COVID – 19- TRADE FRIENDLY INITIATIVES BY CBIC 1. 24*7Custorris Clearances of Goods to avoid any supply disruptions 2. Custom formations ore working for clearance of both import & export cargo. Assessment, examination and ancillary work such as bond acceptance, warehousing, port clearance, amendment to documents is happening smoothly. 3. Dedicated Novel Corona Virus helpdesk for […]

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