1.Back Ground Facts: XYZ of India Limited (hereinafter referred as “Querist”) is a company registered under the provisions of Companies Act 2013 vide registration no 56365365xxxxx(CIN No. **************************) with its registered office at Gurgaon, Haryana, 1220xx. It was incorporated on 28/12/2020 and has started functioning w.e.f. 01.04.2021 Being designated as Central Transmission Utility, the Querist’s …
Budget The Budget 2020 has invented a new tax regime for the individuals and HUFs. Under this regime, a new section is inserted which provides an option for the tax payers to opt a new slab other than slab mentioned in the schedule. Opting to the new tax rate under new section is subject to …
GST Outcome of 37th Meeting of the GST Council, Goa held on 20 September, 2019 The GST Council, in its 37th meeting held today at Goa, recommended the following: 1. Relaxation in filing of annual returns for MSMEs for FY 2017-18 and FY 2018-19 as under: a. waiver ofthe requirement of filing FORM GSTR-9A for …
Tax & Economy Updates:– The deadline to file income tax return (ITR) for this financial year (FY 2018-19) was extended from July 31 to August 31. Now, if for some reason you still do not manage to file your ITR before the end of the day, here is what will happen. Further, here are your …
What happens if you missed the ITR filing by 31st August 2019 Read More »
The Hon’ble Finance Minister has announced the Union Budget 2019 on 5th July 2019. There are various Key points related to Budget 2019. Reduced Tax rate: Lower Corporate tax rate of 25% extended to all companieswith annual turnover upto INR 400 crores (current limit of INR 250 crores). Lower interest burden: Interest subvention scheme for …
Startup India Standup India… Young Indians today have the conviction to venture out on their own and a conducive ecosystem lets them watch their ideas come to life. In today’s environment we have more Startups and entrepreneurs than ever before and the movement is at the cusp of a revolution. However, many Startups do not …
The District Taxation Bar Association (Direct Taxes), Ludhiana has written a Memorandum to Finance Minister Nirmala Sitharaman wherein, they have highlighted 22 problems that are being faced by them and the taxpayers at large, on the New Income Tax Portal. Due to these issues and problems, not only are taxpayers and professionals unable to reply …
Memorandum on the problems being faced in relation to New Income Tax Portal Read More »
