Key Takeaways from New FAQs issued by CBDT on Vivad se Vishwas Scheme, 2020 The Apex Body CBDT has issued Circular No. 21/2020 dated 4.12.2020 containing FAQ’s & Clarifications on some crucial & vital issues in the Vivad se Vishwas Scheme, 2020. This Circular has been issued in continuation of its earlier Circular No. 9/2020 dated […]
93% of Registered Persons in GST: Be Alert of the Crucial Date of 30th November, 2020. In India, at present about 93% of the total Registered Persons under GST are having their annual turnover of up to Rs. 5 crores, and the tomorrow’s date of 30.11.2020 is very significant and crucial for all such registered […]
Understanding the New GST Diwali Bonanza-Quarterly Return Monthly Payment (QRMP) Scheme with Practical Illustrations The Goods & Service Tax (GST), inspite of its PAN India roll-out as ‘One Nation One Tax’, w.e.f. 1.7.2017, has been looked upon with some reservations and apprehensions by the small and middle level businesses and traders on account of its […]
FM Gifts ‘Aatma Nirbhar Bharat Stimulus Package 3.0’, on the Occasion of Dhanteras The festival of ‘Dhanteras’ kickstarts the festivities of Diwali, bringing with it new hopes, aspirations, enthusiasm and vibrancy. According to Hindu mythology, on this day, Goddess Lakshmi emerged from the ocean of milk along with a pot full of Gold and Lord […]
MCA Issues Important Clarification to Rectify an Anomaly in Extension of LLP Settlement Scheme, 2020 & Due Date of Filing Form 8 for FY 2019-20. All Limited Liability Partnerships (LLPs) registered under Limited Liability Act, 2008, are required to file two statutory forms viz. Form 11 and Form 8, annually. The Annual Return in Form 11 is to be […]
The primary reason for bringing out the Direct Tax Vivad Se Vishwaas Scheme 2020, as asserted by the learned Revenue Secretary is to ensure amicable resolution of disputes arising out of OCM/Demonetisation Cases. The Income-tax department has launched an aggressive outreach drive, wherein, a large number of jewellers and real-estate developers have been sent notices, emails and proposals to opt for this Tax Amnesty Scheme and avail the benefit of immunity from interest and penalty and even prosecution.
Amazon (Gopal Subramanium) vs. Reliance/Future Group (Harish Salve): An Intriguing Battle of Market Share & Nerves All of us are aware of the much talked about announcement of the acquisition of the Kishor Biyani’s Future Group Retail Business including Big Bazar by the Mukesh Ambani’s Reliance Industries (RIL) for a consideration of Rs. 24,713 crores. […]
Faceless Assessments & Appeals: Missing Out on that Odd Cup of Tea with AO/CIT(Appeals) for a Far More Rewarding TEA of Transparency, Efficiency & Accountability!!! Friends let me begin with an interesting question…. “What comes across your mind when you hear these terms and phrases- artificial intelligence, machine learning, advanced algorithm-based data analytics, automated random allocation […]
All those Businessmen out there, Cheer Up, Even the Union Government of India is in the same boat as all of us, in this corona pandemic. Monthly Review of Accounts of Union Government of India upto the month of September, 2020 for the Financial Year 2020-21 The Monthly Account of the Union Government of India […]
GST Alert: Taxpayers Beware of Two Critical Dates viz. 15.10.2020 & 20.10.2020 CBIC-the Apex Body of Indirect Tax Administration in India has recently issued two very significant Notifications, mandating crucial GST Compliances viz. (i) Blocking of E-Way Bill (EWB) Generation Facility for Taxpayers with AATO over Rs 5 Cr., after 15th October, 2020 (Compliance Deadline: […]
