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As of 21st April 2020 Taxpayers deposit money using challan and the paid amount gets credited in the particular head in the Electronic Cash ledger and the same can be utilized in settling liabilities of that head only. In case a…

  A new facility of filing nil return has been provided by GST Department to ease the compliance burden cost on the Assessee in case of nil return vide Notification No. 58/2020 – Central Tax dated 1st July 2020; Rule…

As promised by the Honourable PM government has started relief measures under the “Atma Nirbhar Bharat” scheme.A slew of measures were announced starting from 13/05/2020 .We have tried to summarise the announcements made as follows and will update as and…

Composition Scheme under GST: The Composition levy scheme is a very simple, hassle free compliance scheme for small taxpayers. It is a voluntary and optional scheme. Salient Features: No elaborate records required  Only quarterly returns required to be filed Payment…

Tax deduction at source is now a very important subject in the field of taxation in the wake of changes in compounding of offences rules that we have already discussed here Although TDS provisions were already present way back since…

Our learned Finance Minister presented her maiden budget on 05/07/2019 .In this post we will try to analyse some of the salient features of the same that are relevant for Income tax  are as follows: Exemption Limit: The limit proposed…

In terms of the Companies (Acceptance of Deposits) Rules, 2014, every company to which these rules apply is required to file with the Registrar: (i) As per Rule 16: a return in Form DPT-3 on or before the 30th day…

Immediately after taking over the new regime government has started the simplification of return filing process under GST.It will be or not that time will tell but in this post we will try to explain the transition planned and salient…

  As the new government has made it amply clear that it is dead serious on combating corruption so is it on tax compliances.In this context the recent changes regarding compounding are worth paying close attention. What is compounding: Section…

  As the date of filing of annual Return under GST being 30/06/2019 is fast approaching and  there appears no news of any extension we present here certain clarifications in the reference of annual return filing which are essential while…