With a view to improving the liquidity position of NBFCs as well as HFCs, the Union Minister for Finance & Corporate Affairs Smt Nirmala Sitharamanhad announced on 13th March 2020, launch of a Special Liquidity Scheme of Rs. 30,000 crore. RBI will provide funds for the Scheme by subscribing to government guaranteed special securities issued by …
Shri M. Ajit Kumar, Chairman, Central Board of Indirect Taxes and Customs (CBIC) launched the e-Office application in over 500 CGST and Customs offices across India here today. The e-Office application was launched remotely in the presence of over 800 senior officers of CBIC. Dr Neeta Verma, DG, National Informatics Centre, (NIC) was also present. …
There are reports in a certain section of media that the growth of direct taxes collection for the FY 2019-20 has fallen drastically and buoyancy of the direct tax collection as compared to the GDP growth has reached negative. These reports do not portray the correct picture regarding the growth of direct taxes. It is …
Shri Nitin Gadkari, Union Minister for MSME and Road Transport and Highways today held meetings via video conferencing with the representatives of Council of Leather Export, FICCI-‘NBFC Program’ and IMC Chamber of Commerce and Industry on impact of COVID-19 on MSMEs. During the interaction, the Minister mentioned that for providing much needed impetus to the …
The Central Board of Direct Taxes(CBDT) has notified the Income-Tax return forms for the financial year ended March 31, 2020 (assessment year 2020-21). The I-T return forms (ITR-1 to ITR-7) incorporate the recent announcement made by the finance minister to ease the burden on taxpayers owing to the covid-19 pandemic. Under an earlier announcement in …
In line with the announcement made in the Union Budget, Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman formally launched the facility for instant allotment of PAN (on near to real time basis) here today. This facility is now available for those PAN applicants who possess a valid Aadhaar number and have a …
The Internet and Mobile Associates of India(IAMAI) said that the tax deducted at souce (TDS) application for all product and service ecommerce firms needed to be revoked by the government. TDS, Which was introduced by through Section 194-0 of the Income Tax (I-T) act under the Finance Act 2020, mandated the deduction of 1% for …
Union Minister for Home Affairs, Shri Amit Shah, thanked Prime Minister Shri Narendra Modi and Finance Minister Smt. Nirmala Sitharaman for today’s economic package announcements. He said, “Today’s announcements by Modi government will go a long way in realising the idea of Aatmanirbhar Bharat. These steps will prove to be a game changer for health, …
KEY HIGHLIGHTS ü Rs 40,000 crore increase in allocation for MGNREGS to provide employment boost ü Increased investments in Public Health and other health reforms to prepare India for future pandemics ü Technology Driven Education with Equity post-COVID ü Further enhancement of Ease of Doing Business through IBC related measures ü Decriminalisation of Companies Act defaults ü Ease of Doing Business …
In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought in an Ordinance on 31.03.2020 which provides for extension of various time limits under the Taxation …