TCS (Tax Collected at source)
New Section Introduced 206C (1H), Applicable w.e.f. 01-10-2020 The Government of India has introduced a new Section 206C(1H) of the Income Tax Act, 1961 with regards to “Tax Collection at Source”. Applicable to all sellers of goods whose turnover for the preceeding Financial Years exceeds Rs. 10 Crores rupees. (Example:- If during FY 2019-20, turnover […]
Introduction of GSTR-2B
GSTR-2B is an auto-drafted ITC statement generated for every registered person based on GSTR-1, 5, and 6. GSTR-2B is a static statement available for each month on the 12th of the succeeding month GSTR-2B for a month contains all documents filed by suppliers between the due dates of furnishing of GSTR-1 for the previous month to […]
New Rules For Current Account – RBI Latest Notification
“NO Current Accounts for customers having CC/OD Accounts” : RBI After considering the concerns arising due to the use of multiple operating accounts by borrowers, RBI has notified certain restrictions on the use of multiple accounts by borrowers availing credit facilities from multiple banks. In this notification, RBI has directed banks not to open current […]
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