Feb24
2020The Article below summarizes the changes proposed in the CGST Act, 2017 and IGST Act, 2017 vide the Finance Bill, 2020 (‘Budget’). Post enactment of The Finance Act, 2020, these changes shall be applicable only when a notification is issued regarding their applicability.
Feb06
2020Finance Minister Nirmala Sitharaman presented the Budget for the Financial Year 2020-21 on 1st February 2020. The Budget has especially brought cheers for middleclass people in the form of Income Tax slab rate cuts as well as increase in insurance cover for deposits. Let us discuss the key points of the budget.
Jan27
2020The Companies Act, 2013 lays down the provisions requiring corporate to mandatorily spend a prescribed percentage of their profits on certain specified areas of social upliftment in discharge of their social responsibilities. Broadly, Corporate Social Responsibility implies a concept, whereby companies decide to contribute to a better society and a clearer environment – A concept, whereby the companies integrate social and other useful concerns in their business operations for the betterment of its stakeholders and society in general.
Jan17
2020
The Central Board of Direct Taxes notified the Income Tax returns ITR 1 and ITR 4 for the Assessment Year 2020-21 (FY 2019-20) on 3rd January 2020.
Afterwards on receipt of representations from tax payers, CBDT issued a press release on 9th January 2020 relaxing the eligibility criteria for filing ITR 1 and ITR 4. In this article we will discuss the key changes announced in relation ITR 1 and ITR 4.
Jan08
2020The Public Provident Fund is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968. The aim of the scheme is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits. The scheme is fully guaranteed by the Central Government. Balance in PPF account is not subject to attachment under any order or decree of court except the Income Tax & other Government authorities can attach the account for recovering tax dues.
Dec27
2019What is HSN Code?