B J S And Associates

Category: Corporate

Trust Re-Registeration

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 […]

Income Tax Section 206C [1H] Explained

Income Tax Section 206C [1H] Explained

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. […]

Relaxation In The Time Limit in the Deadline to Verify ITR V

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  […]

Fresh start for defaulting company / LLP

Fresh start for defaulting company / LLP

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 […]

Secretarial compliance

Secretarial compliance

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 […]

Guide to registering your company as MSME

Guide to registering your company as MSME

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 […]

Advantages of registering your company for the MSME Scheme

Advantages of registering your company for the MSME Scheme

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 […]