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Existing certificates for lower deduction of TDS/TCS are valid till 30.06.2020

Central Board of Direct Taxes (CBDT) by issuing an order on dated 31.03.2020 under section 119 of the Income Tax Act, 1961, has clarified that, due to outbreak of COVID-19 pandemic, existing certificate issued for FY 2019-20 for lower or nil rate of deduction of TDS and lower or nil rate of collection of TCS, shall be valid till 30.06.2020.

Companies Fresh Start Scheme, 2020

Ministry of Corporate Affairs, notified Companies Fresh Start Scheme, 2020. Under the scheme, all the companies can file any overdue documents with the MCA-21 registry at a normal fee without any additional fees. This scheme is applicable from 01.04.2020 and will remain in force till 30.09.2020. Under the scheme any overdue documents including annual filing can be filed irrespective of its due date.

Relaxation given in various compliance due to corona virus

Finance Minister Mrs Nirmala Sitharaman in today's press conference, has given relaxation in various compliance and extended various due dates, as country is facing lock down situation due to corona virus outbreak.

Decision taken by GST council in its 39th meeting

The 39th meeting of GST council is held at New Delhi on 14.03.2020. In this meeting GST council extended due date of Annual Return to 30.06.2020. Further implementaion of e-invoicing and new gst return system is deffered till 01.10.2020.

RBI impose Rs 50000 withdrawal limit from Yes Bank account

RBIhas placed Yes Bank under moratorium from 05.03.2020 till 03.04.2020. Under moratorium period, account holder can withdraw only upto Rs 50,000/- irrespective of money lying in their bank account.

LLP Settlement Scheme 2020 – Amnesty Scheme for LLPs

Ministry of Corporate Affairs (MCA) vide general circular number 6/2020, introduced LLP Settlement Scheme 2020. This amnesty scheme allowed all LLPs to file pending Form-3, Form-4, Form-8 and Form-11 on additional fee of Rs 10/- per day subject to maximum of Rs 5000/- additional fee per form.

Top Post

Existing certificates for lower deduction of TDS/TCS are valid till 30.06.2020

Companies Fresh Start Scheme, 2020

Relaxation given in various compliance due to corona virus

Decision taken by GST council in its 39th meeting

RBI impose Rs 50000 withdrawal limit from Yes Bank account

LLP Settlement Scheme 2020 – Amnesty Scheme for LLPs

All about new GST return system

Income tax – old slab vs new slab

New due date for GSTR-3b

Sabka Vishwas Legacy Dispute Resolution Scheme Extension