Tag: Compliances
Company Fresh Start Scheme and LLP Settlement Scheme
Ministry of Corporate Affairs, Government of India, vide general circular No. 12/2020 and 13/2020, dated March 30, 2020 notified “Companies Fresh Start Scheme, 2020” and LLP Settlement Scheme ( the “Scheme”) where all Companies and LLP’s have been given opportunity to file overdue forms with Registrar of Companies without late fee and immunity from prosecution. For more details refer attached: GMA
Clarification on Tax related issues for ye 31.03.2020
1) FY 2019-20 is not at all extended till 30th June, only the date is extended for some compliance’s. 2) Belated returns or Revised returns for the FY 2018-19 can be filed till 30th June. 3) In the FY 2019-20, income is taxable till 31st March only and not upto 30th June, i.e. for taxability of income financial year is
FM Nirmala Sitharaman Announcements on 24th March – COVID-19
FM Nirmala Sitharaman today announced the following relaxations on compliance requirements due to COVID-19: 1. INCOME TAX – Last date of filing Income Tax Return FY 2018-19 increased to 30.06.2020 – Interest Rate delayed payment reduced from 12% to 9% – Delayed deposit of TDS interest rate 9% till 30.06.2020 2. Due date extended to 30.06.2020 – Aadhar- Pan Linking
