Never miss any key compliance date, by adding this Compliance Calendar to your Google/ mobile calendar. CLICK HERE to integrate the calendar. The Calendar comprises of dues dates pertaining to GST Returns, Income Tax Returns, TDS Compliances, ESIC, PF & Company Law Compliances. The calendar is updated...
Government of India through Finance Act, 2021 has introduced two new Sections of TDS which shall be applicable w.e.f. Jul 1, 2021. These two new provisions cover TDS on Purchase of Goods and Higher Rate of TDS on non-filers of Income Tax Returns.In the document provided here, we have explained the applicability...
In the last few months a keen interest has been seen in the MSME sector- backed by change in MSME definition and Schemes announcement under 'Atmanirbhar Bharat' Campaign. MSME Sector, comprising Micro, Small and Medium Industries, contributes over 30% in India's GDP employing over 7 crore...
The New Financial Year 2021-22 is beginning tomorrow. Team Shiv & Associates wishes a prosperous New Financial Year for you and your business.With F.Y. 2021-22, several key changes are becoming effective under Income Tax, GST and other Laws which may have a direct bearance...
To ensure tax compliance and reduce evasion of taxes, the provisions of TCS and TDS under Income Tax Act are being expanded w.e.f. Oct 1, 2020 as following: 1. TCS shall be applicable on- - Sale of Goods by sellers having Turnover greater than Rs. 10...
The Prime Minister of India has announced key structural reforms in the Income Tax system with the objective of making Income Tax seamless, painless and faceless for the taxpayers. Announcement includes Taxpayers' Charter, Faceless Assessment and Faceless Appeals. Further, the government has proposed to...
The start of the new Financial Year 2020-21 has been impacted by the Covid-19 pandemic. However, with restrictions easing up, economic activities are resuming again. As we hope for things to become normal, we are sharing a small guide for business entities to plan their Income...
Government of India, for Financial Year 2020-21, has introduced 'New Tax Regime' giving taxpayers option to pay income tax at a reduced rate, provided they surrender the exemptions and deductions otherwise available to them. This has left taxpayers in a fix as they are still...
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The lockdown amidst the Covid-19 pandemic has severely impacted the operations and finances of businesses and individuals. The Government of India has announced several measures under GST, Income Tax and other Acts to provide some respite to businesses. We have compiled such major reliefs impacting...
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In our continued efforts to serve our clients through knowledge building, the Direct Tax Team of Shiv & Associates has prepared a small snapshot on the suggested amendments proposed by the Finance Bill, 2020. We recommend you to go through the attached draft and feel free...
