‘Transparent Taxation’ platform was launched by PM Narendra Modi on 13th August 2020 via video conference to encourage sincere taxpayers. The platform aims to remove any physical interface between the taxpayer and the income tax department. Also it is aimed to honor India’s taxpayers who have been sincere with taxes. Major Announcements: Speaking on the...
What’s the provision: Effective from October 01,2020 a seller is required to collect additional 0.1% of sales value towards tax collected at source commonly known as (TCS) from a buyer of goods where the aggregate sale value exceeds Rs. 50 lakh with that buyer for a year. This provision is applicable to a seller whose...
Modern technology has resulted in tremendous growth in the workplace transformation market 2020. The human resources and the IT department’s technology in various enterprises are collaborating to provide a workspace that assures the flexible and seamless functioning of their daily business process. The organizations which have already introduced digital transformation in their workplace experience greater...
With the increasing number of smartphone users in India and availability of internet at a reasonable cost, E-Commerce portals like Amazon, Flipkart, Big Basket, Grofers, etc. have prospered as its maximum use has been made by the Consumers during this pandemic situation to fulfill their daily as well as special needs sitting at home. The...
Govt. of India has taken revolutionary steps in bringing transparency in Tax Reforms of the country. These steps have ensured that every rupee earned or spent has been accounted for and justified by the individual. To further strengthen measure CBDT has notified new Income Tax Return (ITR) forms for the Assessment Year 2020-21. Additional columns...
With the advent of technology, there has been a revolutionary growth in the business sectors and business models where there is a heavy reliance on digital and telecommunication networks which has boosted the supply and procurement of digital services without physical presence, as it is no longer a preliminary requirement for delivering goods or rendering...
To provide relief to businesses grappling with the economic impact of COVID 19, the Government has come up with various relaxations for GST compliances. Here are a few important announcements from our government. In a major move towards taxpayer facilitation, the government has allowed SMS filing of NIL GST statement in Form GSTR-1 from the...
The Directorate General of Foreign Trade (DGFT) vide its notification No.16 /2020-21 dated 25th June 2020 has undertaken an initiative to revamp its service delivery mechanisms to promote and facilitate foreign trade. As a part of the initiative it has decided to launch a new digital platform on 13th July 2020 to provide services related...
It is interesting to see the developments in the case of German Fintech Co Wirecard which until a few days back was a model poster company. On 1st June its market cap was € 15 bn and now the company is in liquidation. Just imagine investors losing such a huge value almost overnight. At the...
The existing global market is highly competitive where the companies are trying to gain an edge over the competitors. This has resulted in various mergers and acquisitions globally. China has always appeared to be a key player, investing in other countries in the form of mergers and acquisitions. However, the recent COVID-19 outbreak has shifted...
