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Complete guidance to new e-form CSR-1

Are you a social organisation and seeking CSR Funding? Then it is mandatory for you to get registered with MCA by filing Form CSR-1 as soon as possible. Ministry of Corporate Affairs has launched CSR-1 form...

What are Form 15CA and 15CB? How to fill and who are applicable.

Any payment made to a non-resident or a foreign company is subject to various rules and regulations. As per provisions of Section 195 of Income-tax Act,1961 any person responsible for paying money to a non-resident...

Advance Tax isn’t applicable to senior citizen with no income from business/profession

As per section 208 every person whose estimated tax liability for the year exceeds Rs. 10,000, shall pay his tax in advance in the form of “advance tax”. Thus, any taxpayer whose estimated tax liability for...

A guide to depreciation rates for AY 2021-22

Depreciation is allowed as a deduction under section 32 of the Income Tax Act, 1961. In the computation of taxable income, the depreciation rate as per income tax act will be allowed as deduction...

Is Stock Broking Company is a Financial Service Provider Under IBC? | NCLAT to Examine

The National Company Appellate Tribunal (NCLAT), New Delhi has recently agreed to examine a serious question of law i.e. whether a stock broking company should be considered as a Financial Service Provider under Section...

I-T Department issues Rs 17,061 CR of refunds to Taxpayers

The Income Tax Department on 12th May,2021 said it has issued over Rs 17,061 crore of refunds to more than 13 lakh taxpayers so far this fiscal year.  Of this, personal income tax refunds worth...

Relaxation granted by MCA due to second wave of Covid-19

Circular-1: Maximum Gap between two Board Meetings under section 173 of the Companies Act, 2013.  MCA has extended a gap between the two board meetings by 60 days for the first two quarters of Financial Year...

QRMP: Quarterly Return Monthly Payment Scheme under GST

Taking another step towards the goal of increasing “Ease of doing business” in India and providing relief to small taxpayers; the GST Council in their 42nd Meet on 5th October 2020 proposed a quarterly return filing...

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