Income tax Synergy Insolvency

Covid – 19 impact:

Date of filing Income Tax returns for FY 19-20 extended Direct Tax Measures announced All pending refunds to charitable trusts and non-corporate businesses & professions including proprietorship, partnership, LLP and Co-operatives shall be issued immediately. Due date of all income-tax return for FY 2019-20 will be extended from 31st July, 2020 & 31st October, 2020 […]

Income tax

New draft rules set to clamp down on CSR activities through trusts

The government has made the norms for corporate social responsibility (CSR) more stringent. In new draft rules, greater onus has been put on companies for reporting details of their CSR activities and how such funds are used. The corporate affairs ministry has invited public comments on the draft rules by March 28. The proposed rules would not […]

Income tax

Have changes in tax rates for Indian companies taken the shine off LLPs?

Limited liability partnership (LLP) is the preferred legal vehicle for a lot of Indian promoters and multinational companies for setting up their business in the country. Among many advantages that LLP offered was the better income-tax regime for it. However, with sweeping changes to the tax rates applicable to Indian companies in the recent past […]

Income tax

विदेश भ्रमण पैकेज पर अप्रैल से लगेगा टैक्स, कालेधन के इस्तेमाल पर लगेगी रोक

 राजीव कुमार। अगले वित्त वर्ष (2020-21) की शुरुआत से विदेश यात्रा का पैकेज लेने पर पांच फीसद टैक्स देना होगा। नए नियमों के मुताबिक पैकेज की कुल राशि का पांच फीसद टैक्स कलेक्शन एट सोर्स (टीसीएस) के तहत अलग से देना होगा। पैकेज लेने वाले व्यक्ति के पास अगर पैन कार्ड नहीं है तो उसे पैकेज […]

Income tax

Flurry of tax notices puts private companies’ directors in a spot of bother

Directors of private limited companies are being slapped with tax notices, holding them liable for dues/disputes pending at the company’s end. The number of such notices has risen exponentially over the past few weeks, said four people familiar with the matter. This is on the back of mounting pressure on tax officers, with the end of the […]