Thursday, July 29, 2021
Coronavirus crisis is intensifying with each passing day. Till you get vaccinated masks seem to be the only effective way to protect oneself from the deadly virus. Wearing masks properly, maintaining social distancing and good personal hygiene are what needs to be followed by everyone to keep...
Ever heard of businessmen exploring the idea of using an asset on a rental basis on account of a shortage of finance to buy the asset. In terms of finance, the term ‘Lease’ is defined as ‘an agreement whereby the Lessor (legal owner) conveys...
All the business structures registered in India i.e. Private Limited Company, Public Limited Company, One Person Company, Limited Liability Partnership etc. need to file certain forms every year with the Registrar of Companies. All the Companies and LLPs registered in India are required to comply with ROC...
The CBDT (Central Board of Direct Tax) has issued Notification No. 19/2021 dated 26th March, 2021 prescribing the procedure for Registration including re-approval / revalidation of existing Tax Exemption Registrations of Trust or Institutions. All the existing Trusts or Institution registered u/s. 10(23C) / 12A / 80G have to Re-Register with the...
On 1st February 2021, Finance minister Nirmala Sitharaman introduced the Union Budget for the financial year 2021-22 of which the major Direct tax amendments have been discussed here: Latest Tax Amendments 2021-22 1. Relief to tax payers on...
The Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, presented the first-ever digital budget for 2021-22 on February 1, 2021. The total budget outlay earmarked is 34.83Lakh Crore for the year 2021-22, which is slightly higher than the previous year total budget outlay of 83.50 Lakh Crore. The...
In the earlier tax regime, after corporate tax of 25% to 30% (effectively 33.99% including surcharge and cess), the Company was also liable to pay Dividend Distribution Tax (commonly known as DDT) to the tune of 20.56% (after grossing up) while distributing the same profit to its shareholders or...
Important News: The Union Cabinet renamed the Ministry of Human Resource Development to the Ministry of Education. Making the announcement, Union Ministers Prakash Javadekar and Ramesh Pokhriyal Nishank said there would be a single regulator for all higher education institutions and MPhil would be discontinued. In a bid to...
WHAT IS DIR-3 KYC DIR-3 KYC is an annual e-form which is to be filed by every Director/Partners/Designated Partners who has been allotted a ‘Director Identification Number’ (DIN) as on 31st March of a financial year and is to be submitted as an e-form DIR-3-KYC to the Central Government on...
A Modern Generation of TRUST, TRANSPARENCY and TAX “A lot of things would depend on the discretion of assessing officer in manual assessment. We have completely revamped it. Instead of territorial jurisdiction, we have brought in dynamic jurisdiction,” Prime Minister Narendra Modi said. Wondering if what we’re doing is really making...

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