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Amended TDS chart for 14-5-2020 to 31-3-2021
Reduction in rate of Tax Deduction at Source (TDS) & Tax Collection at Source (TCS) Applicability: – The reduction shall be applicable for the remaining F.Y. 2020-2021 i.e. from 14/05/2020 to 31/03/2021. Benefit: – This measure will release liquidity of Rs. 50,000 crore. The object
SEZ Online – New Functionalities/Features
SEZ Online – New Functionalities/Features Functionalities made available on the SEZ Online system are reviewed and enhanced/modified from time to time. New functionalities are added in the system based on the inputs and requirements received from various user groups. These functionalities are developed based on
Rama KrishanMay 14, 2020Section 194I – TDS on Rent under income Tax
What is TDS on Rent u/s 194I? This section is applicable to any person who is responsible for the payment of rent. He is liable to deduct and deposit the TDS on Rent. However, an individual or a HUF who is not liable for audit us
CESTAT Notification, Filing of paper book in 2 pen drives and hearing through video conferencing
Notification No.1/2020 In exercise of the powers conferred by Section 129C of the Customs Act, 1962 (52 of 1962) read with Section 35D of the Central Excise Act, 1944 (1 of 1944), Section 86 of the Finance Act, 1994 and Section 9C of the Customs
Secretarial Standard – 1 An Insight with FAQ’s
INTRODUCTION: This standard is issued by the Institute of Company Secretaries of India (“the ICSI”) pursuant to Section 118 (10) of the Companies Act, 2013 (“the Act”). Secretarial Standards are formulated by the Secretarial Standards Board (“SSB”) which was constituted by the ICSI in the
Sachin KhuranaMay 13, 2020Provisional Attachment of Property including Bank Account
Provisional Attachment of Property including Bank Account Legal Provisions SECTION 83.Provisional attachment to protect revenue in certain cases. – (1) Where during the pendency of any proceedings under section 62 or section 63 or section 64 or section 67 or section 73 or section 74,
CA Rachit AgarwalMay 13, 2020Use the lockdown period to learn GST
Use this lockdown period to learn GST Lockdown may prove to be a blessing in disguise. You can add some new skills. GST is the biggest reform of independent India. You can learn it. We have a comprehensive course on GST. Learn GST and utilise this
Updated Provisions of Input Tax Credit under GST
Input Tax Credit under GST The input tax credit has been defined as per Act in our previous article. It means the credit of Input Taxes paid on inputs, capital goods, and input services. The Input tax in relation to a registered person, means the
GST ConsultancyGST on continuous contracts for lockdown period
Dilemma over taxability of continuous contracts for lockdown period: Everything is locked down. Offices, shops, malls, schools, hotels for everything. In many cases, the rent for the lockdown period is waived off. But in case of rent, there is an agreement in advance for a
FM’s Big announcements for MSME: TDS rates slashed by 25%
6 Major steps for MSME Collateral free automatic loans with a 4-year tenure. No guarantee, No fees, No fresh collateral required. No principal repayment for the initial 12 months. 20k Crores benefits for stressed MSME’s. 2 lac MSME’s to benefit from subordinate schemes. Stressed NPA
UP Govt suspended Major Labour Laws
In a step to boost the industry, Yogi Adityanath introduced an Ordinance. UP Govt suspended Major Labour Laws via this ordinance. The industry is feeling good. But putting the major labour laws at abeyance may hit the rights of workers. This may end up in the
Relaxation from Bond for Customs Clearance
Circular No. 23/2020- Customs Subject: Review of Circular No. 17/2020 dated 03.04.2020 namely, ‘Measures to facilitate trade during the lockdown period- section 143AA of the Customs Act, 1962’- reg. Madam/ Sir, Kind attention is invited to Board’s Circular no. 17/2020 dated 03.04.2020 on ‘Measures