The Finance Act,2020 has introduced a new provision for Tax Collection at Source (TCS) u/s. 206C(1H) of the Income tax act,1961. This is w.e.f. 1st Oct 2020. As per this provision, Tax has to be Collected at source (TCS) in respect of Sale of Goods @ 0.1% on the consideration received on sale of such …
New provision – TCS on Goods Sold (Tax On Purchase) Read More »
CBDT provides one time relaxation for verification of electronically filed IT Returns for Assessment Yrs 2015-16 to 2019-20 which are pending due to non-filing of ITR-V form & processing of such returns. CBDT Circular No.13/2020 dt 13th July,2020 issued.
GST updates for 05.05.2020 1. Validity E way bill expiring between 20th Mar 2020 to 15th Apr 2020 has been extended to 31st Mar 2020 2. GSTR 9 & 9C for the year 2018-19 date extended to 30th Sept 2020 3. Companies can now file GSTR 3B through EVC. Digital Signature is not mandatory. This …
