Business compliance

GST Chargeable on Transfer of Leasehold Rights: AAR

GST chargeable on Transfer of Leasehold Rights AAR

All stakeholders must note GST is chargeable on Transfer of Leasehold Rights. As per the latest notification by AAR(Authority for Advance Ruling), GST should be levied while transferring Leasehold rights. Thus it is an important notification as many people aren’t aware about the GST Rate and its applicability on transfer of Leasehold Rights. In this article, … Read more

Professionals can now verify Income Tax Returns of Bankrupt Companies

A piece of good news for insolvency professionals as the central government has increased its powers. Professionals can now verify the income tax returns of bankrupt companies. Furthermore, It is also the duty of professionals to comply with the regulations set forth for certain company tax returns that are governed by income tax (24th Amendment) … Read more

FSSAI Issues Directions on RDA (Recommended Dietary Allowance)

FSSAI Issues Directions on RDA (Recommended Dietary Allowance)

In functional foods, food, special dietary applications, nutraceuticals and health supplements the 2006 FSS Act allows the use of minerals or vitamins or amino acids provided that the quantities do not exceed the Recommended Dieting Amount (RDA) for Indian Consumers. In order to obtain clarification on RDA values of various nutritional products, the FSSAI received … Read more

GSTR 2 Return Filing – Details of Inward Supplies, How to File GSTR 2?

GSTR 2 Return Filing – Details of Inward Supplies How to File GSTR 2

Businesses around India have had to adapt to a range of changes since implementing the Goods and Services Tax in 2017. A range of various forms, each of which serves a special purpose under the GST system, were also established. One of these forms is GSTR 2 and here, you can get all the details … Read more

Income Tax Return: Who should file ITR for FY 2020-21?

Income tax return Who should file ITR for FY 2020-21

Who should file ITR for FY 2020-21 and How to file ITR is are the two most popular questions among taxpayers. Furthermore, many citizens aren’t aware of the benefits of ITR Filing. Thus, In this article, we will discuss important things about ITR Filing that we all must know. What is ITR Filing? The Income … Read more

Income Tax Department launches dedicated emails for taxpayers grievances

Income Tax dept launches dedicated emails for taxpayers’ grievances

Good news for taxpayers, as the Income-tax department has launched three new official email addresses. The Income Tax Department launches dedicated emails for taxpayers’ grievances. The government said the decision is intended to further improve services in accordance with the taxpayers’ charter. In this article, we will read about this latest update of new emails … Read more

GST Annual Return Filing Liberalised

GST annual return filing liberalised

A piece of very good news for small taxpayers as GST annual return filing is now liberalised. Effective 1 August, the CBIC has liberalised the annual return filing requirement for companies. The CBIC has notified this good news via notification in three official orders. It is an important update, so let us understand it in detail … Read more

CBDT extends due dates for electronic filing of various forms

CBDT extends due dates for electronic filing of various forms

A major update and relaxation for taxpayers as CBDT extends due dates for electronic filing of various forms. In other words, considering the problems faced by taxpayers, the Indian government has given a major relaxation for fulfilling compliances under Income-Tax Act, 1961. In this article, we will understand the latest update by CBDT in detail. CBDT … Read more

MCA Extended Due Date for AOC-4 | ROC Date Extension

Due Dates of Filing ROC Annual Return

In the COVID pandemic, the ministry of Corporate affairs extended AGM due date 30th September 2020 from 31st December 2020. However, there was no announcement towards the extension of filing ROC Annual Return and regarding the penalty of annual financial statement. Now the most awaited extension of filing ROC Annual Return due dates announced by … Read more