Recommendations of 49th GST Council Meeting
The 49th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi today. The meeting...
Month : February 2023
MCA allows physical filing of Form GNL 2, MGT 14, PAS 3, SH 8, SH 9 and SH 11 in physical form
The Ministry of Corporate Affairs (MCA) has allowed the stakeholders to file certain forms through the physical mode vide General Circular No. 05/2023 published on...
Amendment in Rule 16CC and Rule 17B regarding Audit report formats for Charitable and Religious trusts and Institutions registered under section 10(23C)
The Income Tax Department on 21st February 2023 has notified the Income tax (amendment rules), 2023 to amend the Rule 16CC and Rule 17B and...
ITR 7 for AY 2023-24 notified
The Income Tax Department has notified the ITR 7 on 14th February 2023 vide Notification No. 5/2023. To view and download the Notification, click here...
Income tax return forms for AY 2023-24 notified
The Income Tax Department has notified the ITR forms for AY 2023-24 vide Notification No. 4/2023 published on 10th February 2023. In the Notification, the...
MCA further extends the time limit for filing of 45 company e-Forms, PAS-03 and SPICE+PartA in MCA 21 Version 3.0 without additional fee
The Ministry of Corporate Affairs (MCA), on 21st February 2023, has further extended the time limit for filing the 45 Company e forms, Form PAS...
MCA extends time for filing 45 Company e-forms and Form PAS 03 in V3.0 without addtional fee
Due to change in way of filing in Version-3, including fresh process of registration of users on MCA-21 and process of stabilization of 45 forms...
Section 115BAE – New concessional tax rate for New manufacturing Co-operative societies
In the Finance Bill 2023, a new section 115BAE has been proposed to be inserted providing the concessional tax regime to new manufacturing co-operative societies....
Union Budget 2023 – Amendment in Section 35D regarding claiming deduction on amortization of preliminary expenditure
In the existing provisions of Section 35D, the assessee, whether an Indian Company or a person other than company who is resident in India, can...
Mahila Samman Savings Scheme – New small saving scheme for Women
In the Union Budget 2023, a new small saving scheme for women has been launched by Union Minister of Finance, Smt. Nirmala Sitharaman ji. In...
Union Budget 2023 – Increasing threshold limit for co-operatives to withdraw cash without TDS u/s. 194N
Section 194N which specifies the rate of TDS to be deducted in case of cash withdrawal from a banking company, a co-operative society or a...
Union Budget 2023 – Increasing threshold limits for presumptive taxation schemes
With the introduction of section 44AD and section 44ADA, the Government has always emphasized on the ease of compliance to the Traders and Professionals who...
Union Budget 2023 – Inclusion of timely payments to Micro and Small Enterprises in Section 43B
In the Union Budget 2023, a new provision has been proposed which seems to promote the payments to the Micro and Small enterprises. In the...
Union Budget 2023 – Rebate u/s. 87A enhanced for New Income tax regime
In the Union Budget 2023 introduced by Union Finance Minister Smt. Nirmala Sitharaman on 1st February 2023, the focus has been shifted on promoting the...
Union Budget 2023 – Rationalization in Surcharge Rate for Individuals / HUF / AOP / BOI
In the Finance Bill 2023, the Surcharge for the Individuals or Hindu Undivided Family (HUF) or Association of Persons or Body of Individuals or an...
Union Budget 2023 – Increase in Income tax slab under section 115BAC
Till AY 2022-23, there has been 2 Income tax slabs. One is the old one in which all the deductions can be availed and the...
Finance Bill 2023 and memorandum explaining Finance Bill 2023
Today, on 1st February 2023, the Finance Bill has been presented by Union Finance Minister, Smt. Nirmala Sitharaman ji. To view and download the Finance...