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Budget 2020- Changes introduced for Individuals
Budget 2020- Changes introduced for Individuals New Slab rates for Individuals on cost of removal of exemptions/deduction (Optional Tax Regime Sec 115BAC)The Finance Minister Nirmala Sitharaman has pr...
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Budget 2020- Important highlights
Incentives to resident co-operative societies.It is proposed to insert a new section (115BAD) in the Act to provide that a co-operative society resident in India shall have the option to pay tax at 22...
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Budget 2020: 20 googly provisions that taxpayer’s need to be careful about
The Union Budget for 2020-21 was announced on 1st of February 2020. Various new googly provisions were proposed in the same, kindly please explain which were those?In the Union Budget 2020-21, there a...
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BUDGET 2020- MSMEs, Exports, Start-ups & Innovation
⇒MSME1. SUBORDINATE DEBT: Working capital credit remains a major issue for the MSMEs. Hence this scheme to provide subordinate debt for MSMEs, to be provided by banks to be treated as quasi-equity and...
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Union Budget 2020 Impact On Agriculture Sector
The agricultural sector has been in a slow down for a past couple of years now. To overcome this, Finance Minister N. Sitharaman through this budget tried to change this situation. The finance ministe...
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100 more Airports to be developed by 2024 to support UDAAN Scheme
Union budget proposes Rs. 22000 Crore for Power and Renewable Energy sector in Current FY National Gas Grid to be expanded from the present 16200 km to 27000 km Government to consider corporatizing at...
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148 Km long Bengaluru Suburban Transport Project proposed
Press Information BureauGovernment of IndiaMinistry of Finance01-February-2020 14:24 IST148 Km long Bengaluru Suburban Transport Project at a cost of Rs 18600 Crore proposed.A National Logistics Polic...
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Highlights of Economic Survey 2019-20 (Download Full Survey)
The epic treatise of modern economics, written by Adam Smith in 1776, was interestingly titled ‘An Inquiry into the Nature and Causes of the Wealth of Nations’. With India having become the fifth larg...
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Thalis are more Affordable for Common Person Now- Economic Survey
Affordability of Thalis vis-à-vis a day’s pay of a worker has improved over time, indicating improved welfare of the common person. The Economic Survey 2019-20 presented in Parliament today by the Uni...
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Major Reforms Proposed in Administration of GST Regime
Press Information BureauGovernment of IndiaMinistry of Finance01-February-2020 14:38 ISTMajor Reforms Proposed in Administration of GST RegimeSimplified GST Return to be Implemented from 1st April, 20...
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January 2020 stands 2nd highest monthly GST collection
Ministry of Finance₹ 1,10,828 crore GST Gross Revenue collected for January, 2020January 2020 stands second highest monthly collection since implementation of GSTPosted On: 01 FEB 2020 2:08PM by PIB D...
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Increase in Customs Duty on Footwear and Furniture- Budget 2020
Press Information BureauGovernment of IndiaMinistry of Finance01-February-2020 14:37 ISTIncrease in Customs Duty on Footwear and Furniture to promote domestic MSMEs5% Health Cess proposed to give impe...
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Last date for filing MGT-7 and AOC-4 in J&K & Ladakh extended
MCA further extended the due date for filing of e-forms AOC-4, AOC-4 (CFS) AOC- 4 XBRL and e-form MGT-7 upto 31.03.2020, for companies having jurisdiction in the UT of J&K and UT of Ladakh without lev...
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Date of filing AoC-4 NBFC (Ind AS) and AoC-4 CFS NBFC (Ind AS)
General Circular No. 02/2020- MCA extend the last date for filing of AoC-4 NBFC (Ind AS) and AoC-4 CFS NBFC (Ind AS) for all eligible companies for the FY 2018-19, without payment of additional fee ti...
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Ahmedabad Bench of NCLT to excercise jurisdiction of Madhya Pradesh
Ahmedabad Bench of NCLT to excercise jurisdiction of Madhya Pradesh MINISTRY OF COPRPORATE AFFAIRSNOTIFICATIONNew Delhi, the 31st January, 2020S.O. 484(E).—In exercise of the powers conferred by sub-s...
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Companies (Accounts) Amendment Rules, 2020
MCA notifies vide ‘Companies (Accounts) Amendment Rules, 2020′ that Every Non-Banking Financial Company (NBFC) that is required to comply with Indian Accounting Standards (Ind AS) shall file the finan...
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112 JCITs to Exercise powers and functions of DCIT/DDIT
Order u/s 120(1) of the Income-tax Act, 1961 – Exercise of powers and functions of DDIT/DCIT by Joint Commissioners of Income-tax.F.No.187/01/2020-ITA-1Government of IndiaMinistry of FinanceDepartment...
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New Optional Personal Income Tax Rate Slabs- Budget 2020
Press Information BureauGovernment of IndiaMinistry of Finance01-February-2020 14:43 ISTNew Personal Income Tax Regime heralds significant relief, especially for Middle Class TaxpayersNew tax regime t...
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Turnover threshold for Tax Audit increased 5 times to Rs 5 Crore
Press Information BureauGovernment of IndiaMinistry of FinanceDated: 01-February-2020MSMEs turnover threshold for Audit increased 5 times to Rs 5 CroreIncreased limit to apply only to Businesses carri...
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FM proposes wide-ranging facilitation measures in Direct Tax Regime
Press Information BureauGovernment of IndiaMinistry of Finance01-February-2020 14:40 ISTFinance Minister proposes wide-ranging facilitation measures in Direct Tax Regime‘Vivad Se Vishwas’ scheme propo...