Browse Tag

Legal-Updates - Page 10

Widening the scope of TCS (Tax Collection at Source) from 1st Oct 2020

by
September 30, 2020
[By Jyotish M Shah, Partner] Widening the scope of TCS (Tax Collection at Source) on foreign remittance, selling overseas tour package, and sale of goods over a prescribed limit from 1st October 2020. Section 206C providing for TCS has been amended to widen the scope to cover: Authorised Dealer who receives Rs.7 Lacs or more from person for remittance out

Implementation of New TDS Challan No. 17 Deferred

May 13, 2009
Income Tax Department had amended the rules relating the Payment of TDS /TCS vide Notification No.31/2009 dated 25.3.2009 making it mandatory for all to deposit the such taxes through E-payment only from 01.04.2009 onwards.  Further, the challan to deposit the TDS /TCS is also changed by introducing a New Challan
Read More

RBI’s special interest rate for exporters till Oct 31

May 4, 2009
RBI Notification.pdf Providing relief to exporters hit by shrinking global demand, the Reserve Bank on Tuesday extended the concessional interest rate scheme by six months till October this year. The ceiling of interest rate on pre-shipment rupee export credit up to 270 days and post-shipment credit up to 180 days
Read More

Mandatory E-Payment of VAT in Gujarat

April 22, 2009
The Government of Gujarat has vide Public Circular No.Gujka-VAT-86/Ja.70/63 dtd.09/03/2009 introduced electronic payment system for payment of taxes under Gujarat Value Added Tax Act from April 2009 onwards. Accordingly – For dealers who have paid VAT of Rs.10 Lacs or more during the financial year 2007-08 or 2008-09 E-Payment of
Read More

No need for proof to claim LTA, conveyance: SC

February 4, 2009
EMPLOYERS, while assessing the conveyance, and leave and travel allowance (LTA) claims of their staff, are under no statutory obligation to collect supporting evidence and furnish them to the tax authorities, the Supreme Court said on Wednesday. A bench comprising Justice SH Kapadia and Justice Aftab Alam said assessee employers
Read More

Limited Liability Partnership Act, 2008

January 27, 2009
Limited Liability Partnership Bill has received the accent of Honourable President of India on 7-Jan-2009 and has now become a legislation and is to be called as ‘Limited Liability Partnership Act, 2008’ vide Notification in the Official Gazette on 9-Jan-2009.
Read More

RBI liberalises NPA norms

January 27, 2009
Further liberalising the prudential norms for the treatment of non-performing assets in the context of ongoing slowdown in the Indian economy, the Reserve Bank of India on Friday said all accounts which were standard accounts on September 1, 2008 would be treated as standard accounts on restructuring provided the restructuring
Read More
1 … 8 9 10 11 12
GoUp