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🍉 CBDT issues functionality to verify whether the Vendors have filed tax return for compliance of Section 206AB and Section 206CCA.

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🥭 As per circular no 11 issued today I.e. 21-6-21, the deductor can verify from income tax portal about its vendor’s status of filing tax return in preceding 2 years. 🌴 Further it has been clarified that preceding 2 previous years for FY 2021-22 shall mean👉 FY 2018-19 and👉 FY 2019-20.

EXCHANGES WARN LISTED FIRMS AGAINST MISLEADING OR FALSE PUBLICITY

Listed companies have got a rap on the knuckles from the stock exchanges for issuing manipulative or distorted statements. Amid a boom in the stock market, stock exchanges have come out with a list of dos and don'ts companies need to keep in mind while communicating with their shareholders. In a strongly-worded statement, exchanges...

🍉 Provision of section 206AB of the Income Tax Act from 01.07.2021

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🍇 TDS for Non-filers of Income Tax Return The Finance Act 2021 has introduced a new section called Section 206AB of the Income Tax Act 1961, which mandates the person paying the amount to deduct TDS in case of non-filing of an income tax return by the specified person. 👉 Section...

Investor for 3, 4 and 5 Star Hotels in India for Buy-outs.

We have a Direct Fund House who wants to buy Brownfield Hotels (Running/Shutdown/Almost complete) in India only. 100% Buyout Criteria for Hotels/ Resorts Leisure/Holiday Cities: Kerala, Goa, Ooty, Shimla, Dehradun, Udaipur, Chandigarh, North East, etc, etc.Business Cities: Mumbai, Delhi, Bangalore, Hyderabad, Chennai, Indore, Kolkata, etc, etc.Size: 50-200...

NBFCS HAD OBJECTED TO RBI RULES ON AUDITOR CHANGE, CALLED FOR EXPERT PANEL

Non-banking finance companies (NBFC) had opposed the RBI move on changing auditors' mid-way in the financial year, and had asked the central bank to set up an expert committee instead, with representations from NBFCs and audit firms before coming with rules on audit. The RBI had said in its guidelines that all banks and...

Latest updates on new Income Tax Portal.

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🥊 The Income Tax Department is going to launch its new e-filing portal www.incometax.gov.in on 7th June, 2021. 🏄🏻‍♀️ The new e-filing portal (www.incometax.gov.in) is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers: 🚣🏼‍♂️ New taxpayer friendly portal integrated with immediate processing of Income Tax Returns(ITRs) to...

SPONSOR INVESTMENTS IN IFSC AIFS TO COME UNDER THE AUTOMATIC ROUTE

The Reserve Bank of India (RBI) has allowed sponsor investments by Indian entities in alternative investment funds (AIFs) set up in an overseas jurisdiction or in an International Financial Services Centre (IFSC) in India to come through the automatic route. The relaxation is expected to resolve the issue of round tripping associated with sponsor...

DIRECT TAX ALERT – THRESHOLDS FOR SIGNIFICANT ECONOMIC PRESENCE IN INDIA NOTIFIED

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In order to address the problem of Base Erosion and Profit Shifting (BEPS), the Organisation for Economic Co-operation and Development (OECD) framed various Action Plans. BEPS Action Plan 1 suggested measures to addresses the challenges posed by the Digital Economy. Taking a cue from this Action Plan, India has been a front runner in implementing measures viz.,...

GOVT WAIVES LATE FEE FOR DELAYED FILING OF MARCH, APRIL GSTR-3B, TAX PAYMENT

GOVT WAIVES LATE FEE FOR DELAYED FILING OF MARCH, APRIL GSTR-3B, TAX PAYMENT

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Our Services are available in many Countries and payment can be made by Equity Shares. If you have already built your MVP (Minimum Viable Product) and you want to expand your sales channels, reach new markets, find new monetization strategies , increase your profit margins, internationalize your product, find new sales channels, find sales...