With effect from 01-10-2020, the Finance Act, 2020 inserted Sub-Section (1H) in Section 206C. This provision requires a seller to collect tax at source from the amount received as consideration for the sale of goods if it exceeds Rs. 50 lakhs in any previous year. To clarify certain doubts about
1. Which manufacturing companies are covered by section 115BAB A domestic company satisfying the specified conditions mentioned in (2) below can claim the benefit of section 115BAB. Domestic company includes a company formed and registered in India. The benefit is available from the financial year 2019-20 (AY 2020-21). This provision is applicable
Extension of certain due dates falling on 30th June 2020 [CBDT Notification No. 35/2020 dated 24/06/2020].
Income tax update:- CBDT has issued a notification today further extending few of the time limits of compliance under Taxation & Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 as under: ➡️ Due date for filing Income Tax Return for F.Y 2018-19 has been extended to 31st July, 2020 ➡️
COVID-19: GST Compliance Relief Measures and Clarifications: Various measures announced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19): The due dates for furnishing FORM GSTR-3B for the months of February, March and April, 2020 has not been extended through any of the