Protocol Between The Government Of The Republic Of India And The Government Of The Republic Of Austria Amending The Convention For The Avoidance Of Double Taxation And The Prevention Of Fiscal Evasion With Respect To Taxes On Income, Which Was Signed At Vienna On 8 November, 1999
Two new sections (Section 115BAA and Section 115BAB) were introduced reducing the corporate tax rate for domestic companies to 22% and for domestic companies indulged in manufacturing activities to 15%. Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 has also fixed the rate of surcharge to 10% irrespective of the profits earned by the company.
The WG has come up to a conclusion that the MTP Obligation should be a function of number of vehicles insured/uninsured instead of premium derived from motor third party insurance business and accordingly a simple & equitable formula for calculating the MTP Obligation has been proposed.
In order to enable the Online KYC process for establishing account based relationship with the RI, Investor’s KYC can be completed through online / App based KYC, in-person verification through video, online submission of Officially Valid Document (OVD) / other documents under eSign, in the following manner:
Insurers are urged to take a conscious call to refrain from dividend pay-outs from profits pertaining to the financial year ending 31st March 2020, till further instructions.
Some apprehensions, based on wrong interpretation of the guidelines, have been raised in the media and by some companies having manufacturing facilities. Some of these are as under: I. States may take legal action, including imprisonment of CEO, in case a COVID-19 positive employee is found in the factory. II. In such a situation, the premises of the factory would be sealed for 3 months. III. In case of non-compliance of precautionary measures, the factory may be closed down for 2 days and may be allowed to restart after full compliance.
Automatic Extension of Import Validity period and EO period by 6 months for AAs under HBP Para 4.41(e) and Para 4.42(h) where no revalidation/EO period extension has been granted till date:
The Companies (Registered Valuers and Valuation) Rules, 2017 (Rules) envisage Registered Valuer Organisations (RVOs) to act as front-line regulators for development and regulation of the valuation profession. The RVOs have the responsibility to admit, develop, monitor and discipline the members of the profession.
In re Empathic Trading Centre (GST AAR Karnataka) 1. The applicant is eligible to be in the composition scheme under section 10 of the CGST Act, 2017 if the turnover of services of the applicant does not exceed ten per cent of turnover in a State or Union territory in the preceding financial year or […]
In re Sri Bhagyalakshmi Trading Corporation (GST AAR Karnataka) What is the applicable rate of tax (GST) on parched / puffed gram (Hurigadale / Putani)? The puffed gram, commonly called as “Fried Gram” and as “Hurigadale” or “Putani” in Kannada are a. Exempt from tax under the CGST Act and Karnataka GST Act if they are […]
