The FM lately announced some changes in Direct Tax in the wake of COVID-19. The TDS and TCS rates were reduced by 25%. Various relaxations were also given in GST and Customs some time back.
The moratorium on term loans has been further extended by three months by the RBI Governor in the wake of COVID-19.
The Finance Minister recently announced various changes to Direct Tax while giving the details of the Economic Package. Various relaxations were given to the taxpayers in the form of extension of the statutory due dates, and reduction in the TDS and TCS rates. After the relaxations were announced by the FM people had several questions about the implications of such changes
Sec 139 of the Companies Act 2013 provides that every company shall appoint an individual or firm as an auditor of the company. Appointment of an auditor is subject to the Board of directors and members of the company at AGM or EGM
Let me share something, back in November 2018, I had my first attempt of CA final but unfortunately I couldn't make it and was left with just one exemption in hand, Whereas, few of my friends cleared in first attempt itself. They were Chartered Accountants and I was into that 6 months trap again.
Employees' Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued Circular dated 20th May 2020 providing FAQ'S ON REDUCTION IN STATUTORY RATE OF EPF CONTRIBUTION FROM 12% TO 10%.
After spending about a quarter in the budgeting exercise, when you submit the budget to higher-ups, you receive a response in no time, that the budget needs to be reduced. If reduction was the plan in the first place, why did they ask you to struggle and spend a whole quarter in coming up with an elaborate and detailed budget?
It is mandatory for every Company Secretary to be it in practice or in employment to achieve mandatory Programme Credit Hours (PCH) as per the guidelines issued by the Institute of Company Secretaries of India (ICSI).
LLP is a body corporate that includes features of both a partnership firm governed by the Indian Partnership Act, 1932, and Private Limited or Limited Company governed by the provision of Companies Act,2013. Since LLP contains elements of both "corporate structure" as well as "partnership firm structure", LLP is called a hybrid between a company and a partnership.
Now moving back to our Topic of INPUT TAX CREDIT for Real E-State Sector, which is one of the most important aspect after introduction of Goods and Services Tax Act, to calculate 'Eligible Input Tax Credit'.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English