Income Tax Dept searches leading bullion trader in Tamil Nadu

The Income Tax Department carried out searches on 04.03.2021 in the case of two Chennai based groups, one of which is a leading bullion trader in Tamil Nadu and the other is one of the biggest jewellery retailers in South India. The search operation was carried out at 27 premises located in Chennai, Mumbai, Coimbatore, Madurai, Trichy, Tr...

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More than 81% account holders are Women under Stand Up India Scheme

Ministry of Finance, in the past seven years has launched various Schemes which have special provisions for empowerment of women. These Schemes have financially empowered women to lead a better life and chase their dreams of being an entrepreneur....

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Join Self-Learning Certification Courses on GST, Customs & Income Tax by Taxguru Edu

Join Self-Learning Certification Course on GST, Income Tax and Customs including Import & Export by TaxGuru Edu The new normal has opened up new frontiers for all of us. The challenges of present times have created new possibilities. To comprehend the opportunities, new perspectives and a fresh outlook, we need to do de-learning and r...

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Details of Central Taxes collected by Union Govt for FY 2020-21

The Minister further gave the tax-wise target for Central taxes to be collected from 1st April, 2020 to 31st March, 2021, tax-wise is as under:-...

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VSV Scheme: Rs. 98328 crore disputes resolved till 01.03.2021

A total of 1,28,733 Declarations have been filed in Form 1 till 1st March, 2021 by taxpayers. These include 1,393 declarations by Central PSUs and 833 declarations by State PSUs/ boards. Declarations have been filed by taxpayers for resolution of Tax disputes amounting to Rs. 98,328 crore till 1st March 2021. Payment of Rs. 53,346 crore...

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ESIC beneficiaries can now avail OPD consultation from empanelled hospitals

Keeping in view the increase in ESI coverage over the recent years, it has been decided that in areas where ESIC infrastructure is not available within a radius of 10 kms, the beneficiary will be allowed to avail medical consultation for OPD services directly from a hospital empanelled with ESIC or with Ayushman Bharat scheme without the ...

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Udyam registration simplified – GSTN requirement relaxed

However, a number of representations were received from various MSME Associations stating that the measure of making GSTIN mandatory is impacting the registration process as many enterprises are exempt from the mandatory requirement of filing GST Returns as per the GST Act/notifications. Asignificant proportion of MSME may have annual tur...

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IBBI gives approval to 317 companies’ resolution plans

As per information provided by Insolvency and Bankruptcy Board of India (IBBI), the Regulator, as on 31.12.2020, in 317 cases resolution plans have been approved and 1126 cases have been ordered for liquidation....

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MCA strikes off 10113 companies between April 2020 & February 2021

The Ministry of Corporate Affairs (MCA) administers the Companies Act, 2013 (the Act), Limited Liability Partnership Act, 2008 and Insolvency and Bankruptcy Code, 2016. There is no provision for weeding out the Companies in the Act....

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GST registrant to update their business activity

Taxpayers are required to select their business activity only once, as – Manufacturer, wholesaler/Distributor/Retailer, service providers & others post login based on highest turnover amongst them. You can change the same later. Source-

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March 2021