The current session of Parliament has been the most productive where historical legislations have been passed. The Triple Talaq law, strengthening of India’s anti-terror laws and the decision on Article 370 are all unprecedented. The popular belief that the promise BJP made on Article 370 is an unachievable slogan has been proved wrong.
The last date for filing of Annual return in FORM GSTR-9 for the FY 2017-18 is 31st August 2019 and many professionals facing lot of Confusion regarding Presentation purpose in different tables of GSTR 9 specially in case of transactions shown in GSTR 3B of 2018-19 which are pertaining to FY 2017-18. So What will […]
Provisions of Corporate Social Responsibility under section 135 of Companies Act, 2013 are amended vide Section 21 of Companies (Amendment) Act, 2019. Provisions of Section 21 Companies (Amendment) Act, 2019 will come into force on such date as the Central Government may, by notification in the Official Gazette. Extract of Changes in Section 135 of […]
Article 246A(1) gives powers to the Parliament for making law for providing levy and collection of GST on all types of supplies of goods or services or both except the following supplies of goods or services or both, namely-
The CBDT has notified the Income-tax Return (ITR) Forms for the Assessment Year 2019-20 with many changes and revisions. While the last date for filing income tax returns has been extended to August 31 for FY 2018-19, the changes and penal clauses for late filing mean one should start the process as soon as possible. ITR 1 […]
What do you mean by charging incorrect rate of GST? Charging incorrect rate of tax refers to short or excess collection of tax amount by the taxpayer other than the rate actually applicable.
MCLR or Marginal Cost of funds based Lending Rate refers to the lowest possible interest rate which a lender or bank can offer to its customers. No bank in the Indian financial structure can provide loans at rates lower than the MCLR rates. Exceptions to same can be approved by RBI only. The MCLR based […]
The Companies Amendment Bill, 2019 has received assent of President on 31st July 2019. With total of 44 Sections, the act emphasis majorly on monetary penalties on Companies and reducing the criminal liabilities of the directors. Some of the amendments are note-worthy and some are penalty’s oriented
Provisions of tax deduction at source (TDS) with regard to payment of any other sum to a non-resident is covered under section 195 of the Income Tax Act, 1961 which are explained hereunder.
The Budget introduced new section 194M covering TDS applicability on payment done to resident contractors, commission / brokerage and professionals. Let us analyze what the newly introduced section 194M has to say, in the present article.
