MCA to release a new web form named CAR (Company Affirmation of Readiness towards COVID – 19) should be filed by an authorized signatory of companies and LLPs on March 23, 2020

Taking cognizance of the gravity of the public health situation, the Ministry of Corporate Affairs (“MCA”) has relaxed the rules with respect to meetings of Board and dispensed with the…

Continue ReadingMCA to release a new web form named CAR (Company Affirmation of Readiness towards COVID – 19) should be filed by an authorized signatory of companies and LLPs on March 23, 2020

Disallowance under section 14A for Expenditure against exempt income if No dividend income is not claimed as exempt by assessee

Short Overview: Where assessee had not claimed any exempt income during relevant assessment year, disallowance under section 14A was not warranted because in the absence of any tax-free income, the corresponding…

Continue ReadingDisallowance under section 14A for Expenditure against exempt income if No dividend income is not claimed as exempt by assessee

PRESS RELEASE ON GST RATES ON CERTAIN GOODS AND SERVICES IN 39TH GST COUNCIL MEETING ON 14TH MARCH, 2020

Following major decision were taken in the meeting- Raise the GST rate on Mobile Phones and specified parts presently attracting 12% to 18%. Interest for delay in payment of GST…

Continue ReadingPRESS RELEASE ON GST RATES ON CERTAIN GOODS AND SERVICES IN 39TH GST COUNCIL MEETING ON 14TH MARCH, 2020