Income Tax Due Date Extension for AY 2021-22 (FY 2020-21)
CBDT Circular 9 of 2021 dated 20th May 2021, has extended following due dates for Income Tax Compliance for AY 2021-22 (FY 2020-21) : 1. Due date for TDS return … Read More
Presentation on E-Invoice Under GST
Presentation on E-Invoice Under GST Click on Link to Download Presentation Presentation Guide
MCA Relaxation in Additional Fee for certain Forms for Companies/LLP
MCA relaxes levy of additional fees in filing of certain Forms under the Companies Act, 2013 and LLP Act 2008 vide General Circular No. 06/2021 Dated: 03/05/2021. In view of … Read More
Extension of Due Date of GST for March & April 2021 Return
Relief Measures announced in GST Compliances In view of recent surge in Coronavirus Cases 1. Reduction in Interest Rate for delayed GST payment for Regular Taxpayer for the month of … Read More
Cost Inflation Index (CII)
In the case of transfer of long term capital asset, Income Tax on capital gains is determined by deducting indexed cost of acquisition/ improvement from the sale consideration. Finance Act … Read More
Cost Inflation Index for Financial Year 2020-21 (AY 2021-22)
CBDT notifies Income Tax Cost Inflation Index for Financial Year 2020-21 (Assessment Year 2021-22) vide Notification No. 32/2020-Income Tax dated 12th June 2020 at 301. Cost Inflation Index helps taxpayer … Read More
Decisions of 40th GST Council Meeting held on 12th June 2020
The Key Decisions of 40th GST Council Meeting held on 12th June 2020 are as follows: 1. Nil late fees for GSTR-3B if there is no tax liablity, for all … Read More
CBIC Clarifies – Salaries paid to company directors not to attract GST
The Central Board of Indirect Taxes and Customs (CBIC) on 10th June, 2020 Vide Circular No: 140/10/2020 – GST clarified that, GST will not be levied on salaries paid to … Read More
Taxation of Dividends FY 2020-21
The Budget 2020 has announced to abolish the Dividend Distribution Tax (DDT) payable by Indian Companies and restoring the classical system of Taxing Dividends in the Shareholders’ Hands. This was … Read More
CBDT has extended the implementation of the new procedure for re-registration of Charitable Institutions u/s 10(23C), 12AA, 35 & 80G of the Income Tax Act, 1961 to 1st October 2020
Finance Act, 2020 has unleashed certain new compliance burdens on Charitable Trusts and Exempt Institutions. Budget 2020 has amended certain provisions of the Income Tax Act, 1961 having a great … Read More