Online Utility for filing Annual Return now available on GST Portal

Online utility for filing Annual Return has been made operational by the GSTN for the F.Y 2017-18. The due date for filing Annual Return in Form GSTR-9 is June 30, 2019 for the F.Y 2017-18.

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Posted in GST |

What are the Requirements for a Private Limited Company Registration?

India is one of the fastest growing economies in the world and is home to millions of aspiring entrepreneurs. The majority of these aspirants want to incorporate a registered company that has a separate legal identity. While there are multiple options like a public company, one person company, limited liability partnership and private limited, most people choose to go for a private limited company due to the associated benefits of this business structure. Before you hire an experienced CA for company registration in Delhi, it’s important to acknowledge the key features of a private limited company.

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Posted in others | Tagged |

33rd GST Council Meeting Update

To give boost to the real estate sector as was being envisaged earlier, following recommendations were made by the GST Council in its 33rd meeting held on 24th February, 2019:

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Posted in GST |

Encouraging Investment in Startups

Union Minister of Commerce & Industry and Civil Aviation, Mr. Suresh Prabhu has cleared a proposal aimed at simplifying the process of exemptions for Start-ups under Section 56 (2) (viib) of the Income Tax Act (‘Act’). The Department for Promotion of Industry and Internal Trade (DPIIT) has issued attached gazette notification dated 19.02.2019 to this effect.

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Posted in Transaction Advisory |

CBDT withdraws Circular on 56(2)(viia) applicability to fresh issuance of shares; Cites subjudice matters

CBDT withdraws Circular no. 10 dated 31st Dec 2018 clarifying that Section 56(2)(viia) of the Income-tax Act, 1961 (‘the Act’) shall not be applicable in cases of receipt of shares by a closely held company (specified company) or a firm as a result of fresh issuance of shares.

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Posted in Direct Tax |