Provisions regarding issue of fake invoice under Income Tax
Finance Act 2020 introduced a penalty provision to curb malpractices of issuing fake invoice. It introduced Section 271AAD…
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Pre pack mechanism for MSME Insolvency with default up to 1 Cr.
The central government has promulgated an Insolvency and Bankruptcy Code (Amendment) Ordinance allowing the use of Pre packs…
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Amendment of Importer-Exporter Code (IEC) related provisions under Foreign Trade Policy, 2015-2020
Every year from April to June even if all details of IEC remain same all existing holders have…
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Supreme Court held that no TDS is applicable for amount paid to foreign supplier for use of software through EULA
The Supreme Court held in the case of Engineering Analysis Centre of Excellence Pvt. Ltd. that tax deductible at…
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Whether TDS to be deducted on reimbursement of expenses
1. Answer to question No.30, provided in Circular No.715, dated 8.8.1995, issued by the CBDT [215 ITR…
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Trusts to be re-registered U/S 12AB of Income Tax Act
All existing charitable trusts registered U/S 12A, Section 12AA, Section 10(23C) and Section 80G of the Income Tax…
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Scheme Guidelines for Implementation of Aatmanirbhar Bharat Rozgar Yojana (ABRY) – to incentivize creation of new employment opportunities in EPFO registered Establishments
Objective Incentivize employer, registered with EPFO, for giving employment to new employee and re-employing persons from low wage…
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GST Update – Rule 86B introduced vide notification 94/2020 dated 22.12.2020
Effective from 1st January, 2021, where the value of taxable supplies (sales) [except exempt supplies and zero rates…
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Search Tax-payer feature upgraded on GSTN Portal to serve purpose of KYC
GSTN portal has been upgraded to provide comprehensive profile using “Search Tax Payer” facility. It serves the purpose…
