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Section 80D: deduction for health insurance premium and health check-up

Section 80D of Income Tax Act, 1961 provides for deduction in respect of payment made for the health insurance premium and preventive health check-ups. This deduction is allowed only to the individual or Hindu undivided family.

COVID-19: Special refund drive launched to help businesses

Ministry of Finance has launched a special refund drive, for issuance of Income Tax, GST and Customs refund to around 1 lakh business entities.

COVID-19: CBIC allowed submission of undertaking in lieu of bond for export and import

CBIC to facilitate trade during the lockdown period has allowed submission of undertaking instead of bond to a certain category of exporter and importer. This relaxation will be available up to 30.04.2020.

List of forms companies or LLPs can file without late fees

An illustrative list of forms that can be filed by companies and LLPs under Companies Fresh Start Scheme 2020 and LLP Settlement Scheme 2020 respectively.

Summary of relief provided under GST due to corona virus

Due to coronavirus outbreak and disruption in the normal routine of the entire nation, the Central Board of Indirect Taxes and Customs (CBIC) has provided various reliefs and various extensions under Goods and Services Tax (GST) compliance.

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.

GSTR-1 due date extended for Jammu & Kashmir for July to Sept 2019 – Notification

CBIC extends due date for furnishing FORM GSTR-1 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir, for the quarter July-September, 2019 till 24th March,2020.

Due date of GSTR-1 extended for Jammu & Kashmir for July to Sept 2019 – Notification

CBIC extends due date for GSTR-1 for taxpayers of Jammu and Kashmir, having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or current financial year, for each of the months from July, 2019 to September, 2019 till 24th March, 2020.

Due date of GSTR-1 extended for Jammu & Kashmir for Oct to Nov 2019 – Notification

CBIC extends due date for GSTR-1 for taxpayers of the State of Jammu and Kashmir, and having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or current financial year, for the month of October, 2019 and November, 2019 to February till 24th March, 2020.