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Due to the outbreak of Novel Corona Virus, the Government on 31st March, 2020 brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020. In order to provide further relief to the taxpayers for making various compliances, the Government has issued a notification on 24th June, 2020 in which various time limits under ...
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 ...
MCA further provided the relaxation in holding Board meetings with the physical presence of directors through companies (Meetings of board and its powers) 2nd Amendment Rules 2020. It clarifies that meetings regarding approval of financial statements, board report etc may till 30th September, 2020 held through video conferencing or other audio visual means by ensuring ...
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 ...
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 ...
Finance bill 2020 has received Presidential assent on 20th March and Become Finance Act 2020 , The provisions of the Finance Act 2020 (FA 2020) will now get incorporated in the Income-tax Act, 1961 (Act) from 1 April 2020, Exceptionally, a large number of amendments, about 59, have been incorporated by current Indian Government while passing FA 2020. Knowledge Paper Regarding ...
