TReDS is an electronic platform facilitating the financing/discounting the Trade receivables of the Micro, Small and Medium Enterprises (MSMEs) through multiple financiers. This scheme was introduced by RBI to meet the liquidity crisis of the MSMEs by providing a mechanism for financing their trade receivables....
Continue readingWe are pleased to present our monthly newsletter for the month of June, 2020. Hope this is both timely and useful for you....
Continue readingThe Government, on May 13, 2020 announced the extension of income tax return (ITR) filing deadline for FY 2019-20 to November 30, 2020 in all the cases. This has been notified now vide Notification 35/ 2020 dated 24th June, 2020. In this regard, we wish to bring to bring to your kind attention the possible impacts of the extended due dates on the tax liability and the interest obligations. ...
Continue readingDue to Covid-19 pandemic, Government of India has announced various relief measures in the statutory/regulatory compliances for businesses/ individuals. The ordinance passed on 31st March, 2020 provides the extension of various time limits under the Taxation and Benami Acts. It also provides for extension of time limits contained in the Rules or Notification which are prescribed/issued under these Acts. We try to sum up all the due dates of Direct & Indirect taxes which are to be adhered by 30th June 2020 in this newsletter. We hope that this will help you in meeting the statutory compliances on time and...
Continue readingThe due date for filing annual return of Foreign Assets and Liabilities ( FLA) by every Indian Resident Companies and LLPs for whom it is applicable for the FY 2019-2020 is 15th July 2020...
Continue readingIn view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31st March, 2020 which, inter alia, extended various time limits. In order to provide further relief to the taxpayers for making various compliances, the Central Board of Direct Taxes (CBDT) has issued Notification 35/ 2020 dated 24th June, 2020 extending various time limits under Direct Tax & Benami laws. ...
Continue readingIn view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31st March, 2020 which, inter alia, extended various time limits. In order to provide further relief to the taxpayers for making various compliances, the Central Board of Direct Taxes (CBDT) has issued Notification 35/ 2020 dated 24th June, 2020 extending various time limits under Direct Tax & Benami laws....
Continue readingIn view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31st March, 2020 which, inter alia, extended various time limits. In order to provide further relief to the taxpayers for making various compliances, the Central Board of Direct Taxes (CBDT) has issued Notification 35/ 2020 dated 24th June, 2020 extending various time limits under Direct Tax & Benami laws. ...
Continue readingIn view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31st March, 2020 which, inter alia, extended various time limits. In order to provide further relief to the taxpayers for making various compliances, the Central Board of Direct Taxes (CBDT) has issued Notification 35/ 2020 dated 24th June, 2020 extending various time limits under Direct Tax & Benami laws. ...
Continue readingThe CBDT has notified new Rule 114AAA to provide that the PAN of a person shall become inoperative if he fails to intimate his Aadhaar number u/s 139AA(2) by 31st March, 2020. However, where such person intimates his Aadhaar number after March 31st 2020, his PAN shall become operative again from the date of intimation of Aadhaar number. Further the Government has extended the said deadline of 31st March 2020 to 30th June 2020 for linking Aadhar with PAN. Hence it is to be noted that through this new Rule 114AAA the PAN of the individuals who are required to quote...
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