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FAKE News: Finance Ministry will give 1.3 lakhs every month!

PIB Fact Check has cautioned public that below WhatsApp forward claiming that Ministry of Finance is providing emergency cash where recipients will receive Rs 1,30,000 per month for 6 months is FAKE! ♦ Don’t believe this message ♦ Don’t forward such links ♦ Never disclose personal information on such websites....

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Posted Under: Income Tax |

Join GST, Customs & Income Tax Courses at 40% Discount till 31st July

Join Self-Learning Certification Course on GST, Income Tax and Customs including Import & Export by TaxGuru Edu at 40% Discount till 31st July 2021....

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Income Tax searches at construction & real estate group in Jharkhand

Income Tax Department carried out a search operation on 28.07.2021 on a prominent group in Jharkhand dealing in building construction and real estate. The search began on 28.07.2021 in Ranchi and Kolkata. More than 20 premises were covered. During the search, it was found that the group was not maintaining regular books of account. In vi...

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Posted Under: Income Tax |

Implementation of E Commerce rules under Consumer Protection Act

Based on the previous experiences, we wish to submit that implementation of e-commerce rules must not be de­layed or diverted for some other mechanism to step in as implementation of the rules at this stage is very crucial because more than one latch small shops have been closed due to mal-practices being religiously conducted by these c...

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Posted Under: Income Tax |

ICAI supports Cabinet decisions to approve 30 amendments to LLP Act 2008

ICAI endorses & supports Cabinet Decisions to approve the 30 amendments to LLP Act 2008 through the LLP (Amendment) Bill 2021 which will provide more traction & pace to ease of doing business policy. Cabinet approves the LLP (Amendment) Bill, 2021 for carrying out 30 amendments to the LLP Act, 2008. Cabinet approves de-criminaliza...

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Posted Under: Income Tax |

Ayush Ministry strongly denies baseless claim by NICE on COVID-19 treatment protocol

Some misleading claims have been made by a naturopathy related network NICE (Network of Influenza Care Experts)and have been published by some media platforms without journalistic verification. The main claim is regarding developing a protocol of treatment of COVID-19 that has been approved by the Ministry of Ayush. The claimant has uneth...

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Posted Under: Income Tax |

Startups and Small Companies Shutdown during Covid

The COVID-19 epidemic has temporarily affected various sectors including Micro, Small and Medium Enterprises in the country. Economic activity contracted due to the strict lockdown measures imposed by the Government. This contraction has also had impact on the MSME sector. Studies have been conducted by National Small Industries Corporati...

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Posted Under: Income Tax |

Development of Small Scale Industries

The Government has announced various relief measures for several sectors under the Aatma Nirbhar Bharat Abhiyan and has taken a number of initiatives to support the MSME Sector in the country, especially in Covid-19 pandemic situation. Some of them are: Rs 20,000 crore Subordinate Debt for Micro Small & Medium Enterprises(MSMEs). Rs...

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Posted Under: Income Tax |

Centre borrows again to pay GST Compensation to States: Critical Analysis

1.0 Brief Background The GST compensation cess is levied under Section 8 of the GST (Compensation to States) Act, 2017 to compensate the States for any loss of revenue arising on account of implementation of GST for five years. The GST compensation cess is transferred into a non-lapsable Fund known as GST Compensation Fund which […...

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Posted Under: Income Tax |

Consultation Paper on Proposed IFSCA (Capital Market Intermediaries) Regulations, 2021

The proposed IFSCA (Capital Market Intermediaries) Regulations, 2021 (Intermediaries Regulations) inter alia provide for regulatory requirements in respect of registration, obligations and responsibilities, inspection and enforcement of various types of capital market intermediaries such as broker dealers, clearing members, depository p...

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Posted Under: Income Tax |

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