Recently IMF has cautioned India on economic slowdown stating that India is in the midst of a significant economic slowdown calling for urgent steps to check the slowdown and continuing with fiscal consolidation. The policy reforms suggested are ongoing cleaning up of bank’s balance sheets, strengthening of bank’s governance, regulatory oversight of NBFCs, monetary easing, […]
Share Transfer Procedure in Private Limited Company The ownership of a private limited company is determined by the shareholding of the Company. To induct new investors or transfer ownership of the Company, the share of the private limited company would have to be transferred. Share Transfer Restrictions in Articles of Association (AOA): A private limited […]
It is the prime responsibility of the policy makers to exercise due diligence in carrying out prime responsibility & in doing so application of mind should be visible. As per the mandate of the Parliament, the DGFT exists to facilitate exports by way of Export Promotion Policy. I have been involved with exports since 1983 […]
Standard Operating Procedure for non-filers of returns- Circular No. 129/48/2019 – GST Dated: 24/12/2019 Non-furnishing of return under section 39 or section 44 or section 45 of the Central Goods and Services Tax Act, 2017 Notice to return defaulter u/s 46 for not filing returns U/S 39/44/45/- GSTR-3A Procedure: System generated message would be sent […]
Tax Relief on contributions to Public Provident Fund (PPF) Account in case of premature closure of the Account:- A point was raised by the State Bank of India Main Branch Bombay as to whether a partial withdrawal in excess of the prescribed limits or premature closure agreed to by the competent authority would have any effect on the relief of income tax admissible under Section 10(11) of the Income Tax Act
As we all are aware that the existing Form No. 10A has been substituted vide CBDT Notification No.10/2018 dated 19/02/2018. Also, rule 17A has been substituted by the Income-tax (First Amendment) Rules, 2018, w.e.f. 19-2-2018. This article will contain the details regarding Form 10A, documents require for registration, e-filing of Form 10A and verification of Form […]
The Central Government vide CGST Notification No. 68/2019,69/2019,70/2019, 72/2019, has amended the Central Goods and Services Tax Rules, 2017, thereby introducing the Central Goods and Services Tax (Eighth Amendment) Rules, 2019. These rules have been brought to implement the provisions of Electronic Invoicing. ‘E-invoicing’ or ‘electronic invoicing’ is a system in which the invoices are […]
Arjuna, If the income tax liability of any taxpayer is more than Rs 10000 in a financial year, then he is liable to pay such tax in installments during the year itself rather than paying this tax at the end of the year. This tax which is payable during the year is called as Advance Tax.
We all are aware that end of the financial year 19-20 is approaching. 31st March, 2020 is an important date to remember for individuals and taxpayers in India as it is the deadline for completing all financial obligations. 7 things to do before the end of 31st March 2020:
This articles explains Income-Tax Rates For Assessment Year 2020-21, some important Income Tax benefits available under various plans of Life Insurance such as deduction under section 80C, Section 80D, section 80DD, etc. also explains Income tax exemption on Maturity/Death Claims proceeds under Section 10(10D).
