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Month: September 2018

Finance Minister Arun Jaitley launches portal to grant MSME loans upto Rs. 1 crore within an hour

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Finance Minister Arun Jaitley on Tuesday launched a portal to enable micro, small and medium enterprises (MSMEs) to get in-principle approval of loans within an hour without the need for a branch visit. The web portal, www.psbloansin59minutes.com, will enable in-principle nod for loans up to Rs 10 million within 59 minutes for MSMEs, financial services […]

e-KYC (DIR- 3) : India Inc directors get 15 days more to submit details with reduced fee

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In a relief for thousands of directors of companies who are yet to do e-KYC, the Corporate Affairs Ministry has allowed them another 15 days time to complete the process. Such directors can do so after paying a reduced fee of Rs 500. For those who file the e-form DIR-3 KYC between September 21 to […]

CBDT extends deadline for filing ITRs with audit reports to Oct 15, 2018

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The Central Board of Direct Taxes (CBDT) on Monday extended the deadline for filing income-tax returns and audit reports for the assessment year 2018-19 by another 15 days to October 15, 2018 for certain classes of taxpayers. Tax audit is a review of accounts of taxpayers with business or profession from an income tax point […]

Government sets up office of GST Commissioner (Investigation) to deal with tax evasion

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The revenue department has created the office of Commissioner GST (Investigation) to deal exclusively with enforcement issues like search, seizure and arrest, as it looks to crackdown on tax evaders. Initially, the government was going slow on enforcement action to give time to the industry to adjust to the new tax regime. With most of […]

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