In this article, we will discuss only Section-95, 96, 98 & 99 of Finance (No.2) Act, 2019. Earlier we have discussed Section-93 & 94 of Finance (No. 2) Act, 2019.
DPT-3 is a return of Deposits or particulars of transaction not considered as deposit or both which is to be filed by every company, other than Government Company on or before 30.06.2019.
Every company having foreign investment(FDI), is required to report Reserve Bank Of India. Below two conditions need to be looked in to in case of FDI.
The central and state Government imposes direct and indirect taxes on individuals, consumers, firms, and companies. Every good taxpayer has to pay direct or indirect tax to the Government. Let�s understand the two kinds of taxes and find out the major differences between the two.
20 things to keep in mind in this year 2020 by taxpayers
The GST council should consider that taxpayers are the real nation builders. If they will be burdened with such haste compliances and bureaucracy, there will be an adverse impact on trade as in general. The law should punish the evaders but shall not cause harassment to everyone in general who pay their taxes honestly, due to some minor non-compliances.
An advance ruling helps the applicant in planning his activities which are liable for payment of GST, well in advance. It also brings certainty in determining the tax liability, as the ruling given by the Authority for Advance Ruling is binding on the applicant as well as Government authorities.
With the last day of the decade and the start of new year, many taxpayers also must have received a letter from Income tax department. I would call it a 'Love letter' :).
CBIC issued the Notification No. 01/2020 - Central Tax on dt. 01 Jan 2020 regarding the implementation of provisions of Finance (No. 2) Act, 2019 to amend the CGST Act, 2017.
National Financial Reporting Authority (NFRA) constituted by Govt. of India to monitor and enforce compliance with Accounting and Auditing standard; had taken up the quality review of statutory audit of ILFS Financial Services Limited (IFIN) for the financial year 2017-18 to verify the compliance with the requirement of Auditing Standard.
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