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MCA allows companies to hold EGMs through VC or OAVM
Ministry of Corporate AffairsMCA allows companies to hold Extraordinary General Meetings (EGMs) through VC or OAVM complemented with e-Voting facility/simplified voting through registered emails.Poste...
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Immediate clearance of Pending GST, Custom & Income Tax refunds
Ministry of FinanceIT Department to release all pending income tax refunds up to Rs 5 lakhs immediately ; Around 14 lakh taxpayers to benefitAll GST & CUSTOM refunds also to be released ; to provide b...
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ITAT holds Video Conference on ‘Direct Tax Vivad Se Vishwas’
Income Tax Appellate Tribunal holds All India Video Conference on ‘The Direct Tax Vivad Se Vishwas Act, 2020’ITAT President Justice P.P. Bhatt encourages stakeholders to avail the Scheme so as reduce...
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Income Tax Act, 1961 (Finance Act, 2020): Section 115BAA
(Status as on 30th March 2020) as amended by Finance Act 2020 and as approved by the President of India on 27th March 2020.)1- Major benefits under this section:a. Income is subject to tax at 22 % plu...
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Arogya Setu is not a surveillance APP
Claim: As per a prominent newspaper, Arogya Setu will be used for surveillance. Fact: This is baseless, the App does not link user location & data with any sensitive personal data. Also, it does not m...
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EPFO Revises Instructions for rectification of Birth Records of PF Members
EPFO Issues Revised Instructions to Facilitate PF Members to Rectify their Birth RecordsIn a move to extend the availability and reach of online services in the wake of the COVID-19 pandemic, EPFO has...
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SCBA Creates New ‘SCBA Covid 19 Helpline Scheme’
The Supreme Court Bar Association has set up a plan by the name of ‘The SCBA COVID-19 HELPLINE SCHEME‘ so as to give budgetary help to individuals who are confronting troubles because of the national...
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MHA blacklists 960 foreigners involved in Tablighi Jamaat activities
Press Information BureauGovernment of India*****MHA blacklists 960 foreigners, present in India on tourist visas, for their involvement inTablighi Jamaat activities; necessary legal action to be taken...
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Booking of train tickets never stopped except for lockdown period
Rail Ministry of India has clarified on twitter that booking of reserved train tickets never stopped except for the lock down period from March 24 to April 14, 2020.CLARIFICATIONA section of Media is...
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Relax compliance of Regulation 76 of SEBI- ICSI to NSDl & CDSL
Institute of Company Secretaries of IndiaICSI:PFP: 2020March 31, 2020Shri G.V. NageswaraRaoManaging Director & CEONational Securities Depository LimitedTrade World, A wing, 4th FloorKamala Mills Compo...
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GSTN enables tax-officers keep moving despite the lockdown
Provided secured access to over 1700 tax officers from 18 States/UTs to work remotely -Shares data of applications processed during the first 10 days of lockdown-Over 20,000 registration and about 800...
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Lower or nil deduction of TDS/TCS & Submission of Forms 15G & 15H
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 04th April, 2020PRESS RELEASECBDT issues orders u/s 119 of IT Act,1961 to mitigate hardships to taxp...
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Form 15G & 15H submitted for FY 2019-20 would be valid up to 30.06.2020
To mitigate the hardships of small taxpayers, it has been decided that if a person had submitted valid Forms 15G and 15H to the Banks or other institutions for F.Y. 2019-20, then these Forms would be...
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Lower/nil rate of TDS/TCS applications to be disposed liberally by 27.04.2020
In case of pending applications for lower/nil rate of TDS/TCS for F.Y. 2019-20, the Assessing Officers have been directed to dispose off the applications through a liberal procedure by 27.04.2020, so...
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COVID-19 lockdown- ITAT begins regular interactive sessions
The Income Tax Appellate Tribunal (ITAT) has commenced today a series of Video Conferences involving regular interactive sessions to productively utilise the time available during the 21-day lockdown...
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ICAI Facility to Pay Membership/COP Fee for Upto 10 years
Institute of Chartered Accountants of IndiaDear Professional Colleague,“Change is the only constant thing in this world” so goes the saying.Amidst these challenging times, when world is grappling with...
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Section 194N: TDS on Cash Withdrawals
Original Provisions of the section 194N before amendment by Finance Act, 2020:Section 194N; To deduct TDS @2% and deposit in Government Exchequer as prescribed with in the specified time from the cash...
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Section 206C(1H): TCS on Sale Of Goods
Clause 84 Widening the scope of section 206C to include TCS on foreign remittance through Liberalised Remittance Scheme (LRS) and on selling of overseas tour package as well as TCS on sale of goods ov...
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Ayurveda’s immunity boosting measures for self care during COVID 19 crisis
In the wake of the Covid 19 outbreak, entire mankind across the globe is suffering. Enhancing the body’s natural defence system (immunity) plays an important role i n maintaining optimum health.We all...
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Finance Act 2020: Key Amendments applicable from 01-04-2020
1- Change Relating to Residential Status [section-6]Number of days to stay in India reduced for NRI: A Citizen of Indian or person of Indian origin having total income exceeding ₹ 15 lakh other than f...