Menu

Drastic fall in interest rates of all Post Office Savings Schemes w.e.f 01-04-2020

0 Comments

The government today announced a steep cut in the interest rates on small savings schemes for the first quarter (April to June) of FY 2020-21. Interest rates on various small savings schemes have been cut by between 70 basis points and 140 basis points (100 basis points = 1 per cent). Here is a look […]

Government : No extension of the Financial Year 2019-20

0 Comments

The government on Monday said it has not extended the current financial year 2019-20 and it will end as scheduled on March 31. The finance ministry issued the clarification following a fake new circulating in some media reports that the Financial Year has been extended. “There is no extension of the financial year,” the finance […]

ITR, GST filing, Aadhaar-PAN linking deadlines extended

0 Comments

Union Finance Minister Nirmala Sitharaman today announced various statutory and regulatory compliance relief measures amid a complete shutdown almost all over the country to control the spread of the highly contagious coronavirus or Covid-19 infection. Here are the key announcements: Financial Services: *Debit card holders who withdraw cash from any bank ATM can do it […]

EPF interest rate reduced to 8.50% from 8.65% for FY 2019-20

0 Comments

The Employees’ Provident Fund Organisation (EPFO) lowered the interest rate on provident fund deposits to 8.50% for FY20 (2019-20) from 8.65% in FY19 (2018-19). The move will affect the PF deposits of over 6 crore active subscribers. The EPF interest rate announced for the current fiscal is lowest since 2012-13, when it was 8.5 per […]

Link your PAN with Aadhaar by March-end to avoid Rs10,000 fine

0 Comments

The Income Tax department might impose a penalty of Rs 10,000 on those who don’t link their PAN card with Aadhaar card within the deadline of 31 March 2020. The I-T department had earlier said that un-linked PAN cards will become inoperative if not linked with Aadhaar by March 31. If the PAN card becomes […]

FSSAI: Sweet sellers to display ‘best before’ and manufacturing date from 1 June

0 Comments

The Food Safety and Standards Authority of India (FSSAI) has issued a direction that from June 2020, all sweet shops will have to display the ”best before date” and ”date of manufacturing” on non-packaged or loose sweets kept in a container or tray for sale at their outlets. At present, it is mandatory to mention […]

Govt implements EPFO’s decision to restore pension commutation; 6.3 lakh pensioners to get benefit

0 Comments

The labour ministry has implemented retirement fund body EPFO’s decision to restore pension commutation under the Employees’ Pension Scheme, a move that will benefit 6.3 lakh pensioners. On February 20, 2020 the ministry notified the decision of the Employees’ Provident Fund Organisation (EPFO) to restore pension of those who opted for commutation of their pension […]

CBIC further extends Due Date for Filing Form GST TRAN-1 upto 31 March, 2020

0 Comments

CBIC has notified that last date for submission of declaration in Form GST TRAN-1 has been further extended upto 31 March 2020, under CGST Rule 117(1A), in certain cases recommended by GST Council, i.e. where registered persons could not submit GST TRAN-1 as per earlier deadline due to technical issues at GST Portal. Form TRAN-1 […]

GST evasion: Centre, state tax officers to share taxpayers information to tighten enforcement

0 Comments

Central and state tax officers will share information about taxpayers for enforcement action as the government looks to tighten enforcement measures to check GST evasion. “CBIC launches application for sharing information between Centre and State for targeted enforcement action against GST evasion. A big leap in intelligence sharing and cooperative federalism #GST,” the Central Board […]

CBDT issues clarification on — applicability of TDS provisions on Mutual Fund dividend

0 Comments

CBDT clarified that the Budget proposal of 10 per cent TDS will be applicable only on dividend payment by mutual funds and not on gain arising out of redemption of units. It was proposed to levy tax deducted at source ( TDS) of 10 per cent on dividend/income paid by a company or mutual fund […]

Social media & sharing icons powered by UltimatelySocial
Contact now.
close slider