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COVID-19 lockdown- ITAT begins regular interactive sessions
The Income Tax Appellate Tribunal (ITAT) has commenced today a series of Video Conferences involving regular interactive sessions to productively utilise the time available during the 21-day lockdown...
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ICAI Facility to Pay Membership/COP Fee for Upto 10 years
Institute of Chartered Accountants of IndiaDear Professional Colleague,“Change is the only constant thing in this world” so goes the saying.Amidst these challenging times, when world is grappling with...
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Section 194N: TDS on Cash Withdrawals
Original Provisions of the section 194N before amendment by Finance Act, 2020:Section 194N; To deduct TDS @2% and deposit in Government Exchequer as prescribed with in the specified time from the cash...
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Section 206C(1H): TCS on Sale Of Goods
Clause 84 Widening the scope of section 206C to include TCS on foreign remittance through Liberalised Remittance Scheme (LRS) and on selling of overseas tour package as well as TCS on sale of goods ov...
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Ayurveda’s immunity boosting measures for self care during COVID 19 crisis
In the wake of the Covid 19 outbreak, entire mankind across the globe is suffering. Enhancing the body’s natural defence system (immunity) plays an important role i n maintaining optimum health.We all...
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Finance Act 2020: Key Amendments applicable from 01-04-2020
1- Change Relating to Residential Status [section-6]Number of days to stay in India reduced for NRI: A Citizen of Indian or person of Indian origin having total income exceeding ₹ 15 lakh other than f...
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Section 206C(1H): TCS on Sale Of Goods
Clause 84 Widening the scope of section 206C to include TCS on foreign remittance through Liberalised Remittance Scheme (LRS) and on selling of overseas tour package as well as TCS on sale of goods ov...
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Filling forms under Vivad Se Vishwas Scheme: Important points to be kept in mind
The label of “Appeal Reference Number” may be treated as “Appeal Reference Number / Acknowledgment Number” in all schedules and in Part B “Reference Number” as “Reference Number / Acknowledgment Numbe...
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Stamp duty Act Amendments & FY Year Extension Rumor
Government broadens pertinence of stamp duty by 3 months from 1st April 2020 to 1st July 2020The administration has not broadened the current 2019-20 financial year and it will end as planned on March...
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Do not levy any penalties/charges/fees on any Port user: Govt
Ministry of Shipping issues direction to all Major Ports not to levy any penalties/charges/fees on any Port user for any delay caused due to COVID-19In wake of outbreak of COVID-19 and same being decl...
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Novel Coronavirus- What we know and what we need to know
What do we know and what do we need to know about Novel CoronavirusMany things about Novel Coronavirus are spreading rapidly through social media, WhatsApp and the Internet. Some of these could be tru...
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Jammu and Kashmir Reorganisation (Adaptation of State Laws) Order, 2020
Ministry of Home AffairsJammu and Kashmir Reorganisation (Adaptation of State Laws) Order, 2020Union Ministry for Home Affairs (MHA) has issued an order for adaptation and modification of State Laws s...
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Activate ‘Deactivated’ DIN without any filing fees till 30.09.2020
DIN holders of DINs marked as ‘Deactivated’ due to non-filing of DIR-3KYC/DIR-3 KYC-Web and those Companies whose compliance status has been marked as ‘ACTIVE non-compliant’ due to non-filing of Activ...
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Donation to PM CARES Fund to be fully exempt under section 80G
The finance minister, Nirmala Sitharaman, at a press conference dated 24th March 2020 has announced that taxpayers can complete their tax-saving exercise and statutory compliances for FY 2019-20 till...
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No Shortage of Medicines to combat Covid-19 outbreak
Press Information BureauGovernment of IndiaMinistry of Chemicals and Fertilizers31-March-2020 17:10 ISTNo Shortage of Medicines to combat Covid-19 outbreak;Department of Pharmaceuticals is regularly m...
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Medical Devices notified as Drugs w.e.f. 1st April 2020
vide Notification dated 11th February 2020 issued by Ministry of Health & Family Welfare to be governed under the provisions of Drugs (Prices Control) Order, 2013 Government is regulating 24 class of...
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Certificates for lower rate/nil deduction/collection of TDS or TCS- Reg.
CBDT Order on issue of certificates for lower rate/nil deduction/collection of TDS or TCS under Section 195, 197 and 206C (9) when Assesee was given such certificate for Financial year 2019-20 and whe...
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Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020
Govt notified Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31st March 2020 to give effect to Various Direct/Indirect Tax and Statutory Compliance relaxation announced...
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MCA introduces Companies Fresh Start Scheme 2020 & Revises LLP Settlement Scheme 2020
Ministry of Corporate AffairsMinistry of Corporate Affairs introduces the ‘Companies Fresh Start Scheme, 2020‘ and revised the ‘LLP Settlement Scheme, 2020’ to provide relief to law abiding companies...
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Compliances to be met by units / developers / co‐developers of SEZs relaxed
Ministry of Commerce & IndustryRelaxations provided on compliances to be met by units / developers / co‐developers of SEZsIn view of the sudden outbreak of COVID‐19 pandemic and the nation‐wide lock‐d...