TDS @ 2% on cash withdrawal from Banks

TDS @ 2% on cash withdrawal from Banks
Finance Minister Nirmala Sitharaman, in her Budget on July 5, had proposed 2 per cent tax deduction at source (TDS) on Rs 1 crore cash withdrawal from "one or more accounts" to discourage high-value withdrawals. The Finance Bill, 2019, said any bank or a co-operative society engaged in carrying on the business of banking; or post office, which is responsible for paying any sum, in cash, in ex...
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Union Budget 2019

Union Budget 2019
Finance Minister Smt. Nirmala Sitharaman quoted in her budget speech "With this Vision set before us and with the mandate given by its people, we are determined to take India to that height that it richly deserves. I strongly believe that with the clear headed leadership of Hon'ble Prime Minister we can achieve our goal." Detailed analysis of budget is as under: Union Budget 2019...
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Banning of Unregulated Deposit Scheme Ordinance 2019

Banning of Unregulated Deposit Scheme Ordinance 2019
The Banning of Unregulated Deposit Ordinance puts a check only on illicit deposit schemes that dupes gullible investors but it does not prohibit those regulated by law like chit funds. To curb menace of Ponzi schemes, President Ram Nath Kovind last week promulgated the Banning of Unregulated Deposit Scheme Ordinance 2019 which seeks to make such unregulated deposit scheme punishable, among other t...
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MSME Compliance for Companies

MSME Compliance for Companies
Ministry of Corporate Affairs by Notification dated 22nd January, 2019 implemented reporting system. For all the Companies pertaining to goods and services received from MSME and whose payments are due for more than 45 days. Please click here: MSME Compliance...
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Interim Budget 2019-20 Vote on account

Interim Budget 2019-20 Vote on account
On 1st February,2019, Hon. Finanace Minister has pesented the Interim Budget due to Election coming up in few months. Find in the link below some important changes proposed in the taxation for the coming year. Please click here: Interim Budget 2019-20    ...
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E-Way Bill in GST – An Overview

E-Way Bill in GST – An Overview
By this time every stakeholder must be be aware that E-way bill is compulsory with effect from 01.04.2018 for Inter State movement of Goods.    For Intra State movement of goods, date of implementation of e-way bill will be notified later on .   Ater its first implementation in February 2018, Government has amended e-way bill rules in March 2018. There are certain basic aspects which...
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