Direct Tax Budget proposals Tax slabs Tax slabs have not undergone any changes in this budget. Applicable slab rates are given for your reference. Income Old Regime New Regime Age less than 60 years Age More than 60 but less than 80 years Age more than 80 years 0 – 2,50,000 0% 0% […]
Section : 12AB of the Income Tax Act,1961 – Provision & Re-Registration Procedure of Trust Who should Switch to Section: 12AB All the existing charitable and religious institutions (including NGOs) which are registered or approved under the following sections- Section 12A Section 12AA Section 10(23C) Section 80G Registration […]
Introduction of 206C(1H) in Income tax act for collection of Tax at Source (TCS) on Sale of Goods w.e.f. 01-10-2020 (Today) Applicability Persons whose turnover in preceding financial years exceeds 10 Crore, On sale of goods exceeding 50 lakhs except export or goods Sale of goods which are already covered in other TCS Provisions (I.e. […]
In notification on July 13, the Income Tax Department has allowed one-time relaxation to the taxpayers for such onetime relaxation for the taxpayers under the verification of tax-returns that are pending due to non-filling of the Form ITR-V. The relaxations have been given those pending due to the non-filling of the form of ITR-V Form and processing […]
There is good news and golden opportunity for all Companies and LLPs to file all pending forms, Returns, Annual Accounts, statements including all pending Annual Returns pending for any number of years without additional fees or penalty or prosecution 1. Companies Fresh Strat Scheme, 2020 & LLP Settlement Scheme, 2020http://www.mca.gov.in/Ministry/pdf/Circular12_30032020.pdf – Companyhttp://www.mca.gov.in/Ministry/pdf/Circular13_30032020.pdf – LLP 2. MCA NEWS & IMPORTANT […]
1. Form DPT-3 (Return of deposits or particulars of transaction not considered as deposit)2. MSME Form I (Half yearly return on outstanding dues to micro or small enterprises suppliers)3. Form DIR-3 KYC / DIR-3 KYC WEB (DIN KYC) Please note that due to COVID-19, Late filing fees will not be charged on these forms between 1st April, 2020 to 30th September 2020. 1. Form DPT-3: Return […]
Many benefits are given by Government to MSME. There are 6.3 crore MSME however only 1.3 crore are registered. Therefore, to enable smooth and quick MSME registration Step by step process to register as MSME in easy manner with the help of screen shot is given below. It also provides Checklist of details required to […]
Union Budget 2020 India: India watched with bated breath as Finance Minister Nirmala Sitharaman unveiled the budget for the year 2020-21 on February 1st 2020. “This is the Budget to boost the income of people of India and enhance their purchasing power”, she affirmed. After a year of economic slowdown, this budget is focused on […]
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