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CBIC after providing further relief to the taxpayers by issuing Notification No.51/2020, 52/2020, 53/2020 Central Tax, dated 24.06.2020 clarifies various issues such as Manner of calculation of interest for taxpayers having aggregate turnover above Rs. 5 Crores, Manner of calculation of interest for taxpayers having aggregate turnover below Rs. 5 Crores, Manner of calculation of ...
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 Ministry of Corporate Affairs through General Circular no. 28/020 has notified that companies that have not been able to conduct their AGM for FY ending 31/03/2020 can now voluntarily seek for extension of the time period to hold AGM by filing Form No. GNL-1 with the concerned registrar of the companies on/before 29/09/2020 ...
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 ...
Amendments made in form 26Q, 27Q and 27EQ with respect to newly inserted section of 194N under Income Tax Act, 1961 New columns have been inserted in the forms asking for the details of the cash withdrawals beyond the limits specified u/s 194N. ...
10% rate is applicable for Any establishment in which less than 20 employees are employed. Any sick industrial company and which has been declared as such by the Board for Industrial and FinancialReconstruction Any establishment which has at the end of any financial year, accumulated losses equal to or exceedingits entire net worth and ...
The Central Government vide notification in the Official Gazette makes the following amendment in section 7(1) of the ‘Micro, Small and Medium Enterprise Development Act, 2006’ specifying the criteria for classification of micro, small and medium enterprises Enterprise Investment in Plant and Machinery not exceeding Rs. Turnover not exceeding Rs. Micro Enterprise 1 Crore 5 ...
