Explore the recent amendments in the Companies (Appointment and Qualification of Directors) Rules, 2014 effective from June 01, 2022. Gain insights into the added provisions, including security clearance for directors from countries sharing a land border with India. Understand the impact on Form DIR-2 and Form DIR-3 declarations. Stay informed with our in-depth analysis.
Show cause notice is mandatory requirement for raising any demand under GST act 2017 except payment of interest u/s 50 and assessment of non-filer of returns u/s 62 of the act. SCN is the foundation on which adjudicating authority has to build up case.
Stay updated on Section 194R – TDS on benefits or perquisites in business or profession effective from July 1, 2022. Explore the changes introduced by Finance Bill 2022 and understand the implications. Learn about the scope of benefits or perquisites covered, applicable TDS rates, and exemptions. Get insights into various scenarios and cases under Section 194R. Stay compliant and informed with the latest tax regulations.
Stay informed about the revised DIR-2 format for security clearance in director’s appointments. The Ministry of Corporate Affairs introduces changes to the Companies (Appointment and Qualification of Directors) Rules, 2014. Learn about the new requirements, especially for individuals from countries sharing a land border with India. Understand the need for security clearance from the Ministry of Home Affairs, Government of India, and the consequences of non-compliance.
Explore the choice between the old and new income tax regimes in India following the 2020-21 budget. Finance Minister Nirmala Sitharaman introduced a simplified new tax rate, reducing saving incentives. Individuals and HUFs now face the decision of opting for the old or new regime. Compare tax slabs, deductions, and their implications. Dive into case scenarios to understand the impact on taxpayers at different income levels. Stay informed about the complexities and benefits associated with each tax regime.
In the case of Munjaal Manishbhai Bhatt v. Union of India, the High Court questioned the validity of the deduction of 1/3rd of the total consideration towards the value of land in construction services under GST. The court argued that such mandatory deductions cannot be prescribed through notification as the GST Act doesn’t permit it. However, a recent Supreme Court decision in Union of India v. Mohit Minerals Pvt. Ltd. supports the issuance of notifications for determining the value of supply, citing a reasonable means consistent with GST principles.
Become a GST Consultant by meeting the eligibility criteria, such as being a Tax Return Preparer or Sales Tax Practitioner with 5 years of registration or holding a degree in Commerce, Law, Banking, Business Administration, or Management. Learn about the earnings potential and the range of services GST practitioners offer, including GST registration, return filing, and business consulting. Stay informed on GST rates, with consultancy services generally attracting an 18% GST rate.
Stay informed with the latest regulatory updates for May 2022. Explore changes in Company Law, Securities Law, MSME Development Act, and Insolvency Law. Understand due dates for compliance under various laws. Keep your business compliant and thriving.
Secure your familys financial future with the Married Womens Property Act, 1874. Learn how this legal provision safeguards insurance proceeds from creditors, ensuring your loved ones receive the benefits. Dont let debts compromise your familys well-being; understand the provisions and benefits of the MWP Act today. Discover the simple and cost-effective process to cover your life insurance policy under this act, providing long-term protection for your family.
Explore Imports of Goods and Services under Indian FEMA with expert insights. Learn about legal provisions, RBI guidelines, operational aspects, and compliance essentials. Stay informed on advance remittances, RBI directions, and DGFT regulations. Stay compliant with seamless import procedures.
