Income Tax department releases Form No. 26QD vide notification no. G.S.R. 858(E) for filing TDS returns, of transactions which are required to be deducted u/s 194M of the Income Tax Act, 1961- “Payment of certain sums by certain individuals or Hindu undivided family”
38th GST Council Meeting concluded on 18th December 2019. Taxpayers can now avail provisional ITC on invoices not reflecting on GSTR-2A only to the extent of 10% of ITC reflecting in GSTR-2A and no longer 20%. CBIC had earlier notified that only 20% of ITC available in GSTR-2A can be claimed as provisional ITC in GSTR-3B starting from […]
As per the Council decision taken at its 386th Meeting held on 18th and 19th September, 2019 on one-time relaxation of 30 days for generating UDIN on Certificates / Reports / Documents signed between 20th August, 2019 to 31st December, 2019 will lapse on 31st Dec., 2019. Accordingly, from 1st Jan., 2020 onwards, Members will […]
The Companies Act, 2013 (the Act) was enacted with a view to consolidate and amend the law relating to companies. In order to review the existing provisions of the Act dealing with the offences and to make recommendations to promote better corporate compliance, the Government of India constituted a Committee in July, 2018. […]
The Central Board of Direct Taxes (CBDT) wants religious and charitable trusts that enjoy tax exemption on their income to be more open about their affairs. The apex direct tax policy making body has sought public comments on a set of draft rules that modifies an over four decade old audit report format for these […]
Government of India has taken a decision to reduce the rate of contributions under ESI Act from 6.5% to 4% further bifurcated into 3.25% contribution from employer and 0.75% contribution from Employees.
May, 31st 2019 RBI/2018-19/190 DBR.AML.BC.No.39/14.01.001/2018-19 Government of India, vide Gazette Notification G.S.R. 108(E) dated February 13, 2019, has notified amendments to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. Further, an Ordinance, “Aadhaar and other Laws (amendment) Ordinance, 2019”, has been notified by the Government amending, inter alia, the Prevention of Money Laundering Act, […]