Category: blog
FAQ’s on SEBI (LODR) Amendments dated 5th May, 2021
SEBI: Securities and Exchange Board of India (SEBI) vide notification / Circular dated 05thMay, 2021, has introduced amendments to SEBI (LODR) Regulations, 2015 and published “Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2021”. New Provision (effective immediately unless otherwise prescribed) Link of the SEBI circular: Click Here Listed […]
Read moreIncome Tax on sale of listed shares in short term : Capital gain
Short term capital gain is applicable on capital gain on sale of shares within the range from 1 day to 12 months. Income Tax Rate for sale of listed stocks/ equity under short term is 15% of the profit if the transactions (buy/ sells) are executed on recognized stock exchanges where STT (Security transaction tax) […]
Read moreIncome Tax dept asks cryptocurrency exchanges for info on crypto trades
The Income Tax Department new action is on cryptocurrencies investors. It will surely increase the concerns of investors in India at this time when most cryptocurrency have lost value owing to ongoing decline. To tax the profits generated during the bull run, the income tax department has requested trading information from all crypto exchanges in […]
Read moreMSME: Govt includes Retail and Wholesale Trade as MSMES
From 2nd July, 2021, the Government has included Retail and Wholesale Trades as MSME. The Government, vide notification no. S.O. 2119(E) dated 26.06.2020, had notified composite criteria of classification of MSMEs based on investment in plant and machinery or equipment and turnover of the enterprise. With the introduction of new classification of MSMEs w.e.f. 01.07.2020, a […]
Read moreGSTN: Filing of Annual returns by composition taxpayers – Negative Liability in GSTR-4
GSTN issued advisory on Filing of Annual returns by composition taxpayers – Negative Liability in GSTR-4 where Instances have come to notice where taxpayers are reporting negative liability appearing in their GSTR4. Background of GSTR 4: Since FY 2019-20, composition taxpayers has to pay the liability through Form GST CMP-08 on quarterly basis while GSTR-4 […]
Read moreGST registration with a virtual office, is it possible?
A virtual office is a full-fledged office, but in reality, it doesn’t exist physically. The virtual office is good for those who can’t afford to have physical office. This is possible only because of advanced technology, you will have an office, call or service center where actually no person exists, its the specialty due to which now a days people are shifting towards it. […]
Read moreIncome Tax Form 15CA/ 15CB due date extended: CBDT
As per section 195 of the Income Tax Act, on making payment or remitting any money to non-resident, tax is required to be deducted for any sum which is taxable under the Income Tax Act, 1961. The bank has the responsibility to check whether the tax was paid or not. If TDS is not deducted or […]
Read moreGST amnesty scheme will be easy, those with cancelled registration can get a chance
Businesses that have been unable to benefit from the amnesty scheme due to the termination of their GST registration will soon be able to do so. According to sources, the Finance Ministry is considering restoring such traders’ registration. Read Also: GST Weekly Update: Goods and Service Tax July 2021 On August 31, the GST amnesty programme […]
Read moreGST Amnesty Scheme 2021- Full Guide
GST Amnesty scheme 2021 was announced in 43rd GST Council Meeting. Notification No. 19/2021- Central Tax dated 1st June 2021 notified this scheme which waives off late fees that was payable by taxpayers. Taxpayers can now file their pending returns without any high penalty and avail the benefits of this GST Amnesty scheme with reduced […]
Read moreEmployee on a salary? In 2021, these payments, investments, and incomes will provide you with tax benefits
Income Tax Deductions for AY 2021-22: The filing season for income tax returns (ITRs) has begun. In light of the second wave of the Covid-19 outbreak and the resulting difficulties faced by taxpayers, the Central Government recently extended the deadline for reporting ITRs for the assessment year 2021-22 from July 31 to September 30, 2021. […]
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