On February 1, 2021 Union Budget was presented by Fianance Minister Nirmala Sitharaman. This year budget clearly focusing on Atra Nirbhar Bharat agenda of Modi Government and spending by Government for revival of economy post COVID-19 pendamic. Here is our insight on Union Budget 2021-22....
More
Author: Ghanshyam Jajal
TCS on Sale of Goods
Tax Collection at Source on receipt of amount on account of sale of Goods is made applcable with effect from 1st October 2020. We have analysed the provisions and presented in way of FAQs for easy understanding and proper compliance.
Click Here for updated FAQs after recent Government clarification....
More
MSME / UDYAM Registration
MSMEs are considered as the growth engine of New India. The MSME sector contributes enormously to the socio-economic development of the country.
Recently the Government has revised criteria for registration as MSME to include more enterprises under MSME benefits. Further MSME registration is also renamed as UDYAM.
Click Here for summary of revised criteria and other details for easy unde...
More
Insight of Union Budget 2024
Budget envisages sustained efforts on the following 9 priorities for generating ample opportunities for all along with detailing for roadmap for the pursuit of ‘Viksit Bharat’:
We are publishing our analysis on key announcements made in the Budget 2024.
Have a Look into the APCCA_BUDGET_2024_Analysis
Thank you...
More
FAQ on Acceptance of Payment through Prescribed Electronic Modes
The Finance (No. 2) Act, 2019 has introduced a new section in the Income Tax Act, 1961 namely, section 269SU with an objective to encourage digital economy and move towards a less-cash economy.
Click here for detailed FAQ on 269SU...
More
Cost Inflation Index for FY 2020-21
CBDT wide Notification No. 32/2020-Income Tax date 12th June,2020 has notified the Cost Inflation Index for calculation of capital gain for assets sold for FY 2020-21 as 301.
You can also refer the table showing cost inflation index for earlier year here : Cost inflation Index Table from 2001...
More
TDS @ 2% on cash withdrawal from Banks (updated 07.11.19)
Finance Minister Nirmala Sitharaman, in her Budget on July 5, had proposed 2 per cent tax deduction at source (TDS) on Rs 1 crore cash withdrawal from "one or more accounts" to discourage high-value withdrawals.
The Finance Bill, 2019, said any bank or a co-operative society engaged in carrying on the business of banking; or post office, which is responsible for paying any sum, in cash, in ex...
More
Union Budget 2019
Finance Minister Smt. Nirmala Sitharaman quoted in her budget speech
"With this Vision set before us and with the mandate given by its people, we are determined to take India to that height that it richly deserves. I strongly believe that with the clear headed leadership of Hon'ble Prime Minister we can achieve our goal."
Detailed analysis of budget is as under:
Union Budget 2019...
More
Banning of Unregulated Deposit Scheme Ordinance 2019
The Banning of Unregulated Deposit Ordinance puts a check only on illicit deposit schemes that dupes gullible investors but it does not prohibit those regulated by law like chit funds. To curb menace of Ponzi schemes, President Ram Nath Kovind last week promulgated the Banning of Unregulated Deposit Scheme Ordinance 2019 which seeks to make such unregulated deposit scheme punishable, among other t...
More
MSME Compliance for Companies
Ministry of Corporate Affairs by Notification dated 22nd January, 2019 implemented reporting system.
For all the Companies pertaining to goods and services received from MSME and whose payments are due for more than 45 days.
Please click here: MSME Compliance...
More