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Search results for: Nirmala Sitharaman

Old IT Regime Vs New IT Regime

Easy Way to Switch New to Old Income Tax Scheme for Taxpayers

If you think you have made a mistake while selecting between the new and old tax regimes, then here is the way to switch back to the scheme you desire. Through the Current Financial year’s Budget, Union Minister Nirmala Sitharaman announced the new tax regime as voluntary compliance. Taxpayers, especially employees, are allowed to choose […]

CBDT Circular C1 of 2020

CBDT Issued TDS Circular for Employees to Chose Tax Regime (New/Old)

As directed by the Finance Ministry, the employer is liable to deduct the TDS from the salaries of their employees according to the new lower tax regime if opted by the employee. A new tax regime with lower rates was rolled out by the government on a voluntary basis to facilitate the taxpayers. Though the […]

GST Relief for Business Service Sector

FICCI Writes to FM Asking GST Relief for Business Service Sector

FICCI writes a letter to FM Nirmala Sitharaman highlighting the saturated position of the business service segment due to the COVID-19 outbreak in India. The business association (FICCI) stressed upon the urgent need for relaxations like GST rate cut, PF contribution support for the business service segment. The sector having the total employee accumulation of […]

GST Relief Morbi Clock Industry

Morbi’s Clock Industry Seeks at Least a 50% Reduction in GST Relief

There are a number of companies that make a plethora of unbranded clocks units. And some well-known brands like Ajanta India, Oreva Group, Sonam Clock and Rikon Clocks Manufacturing Co produce around 15 million of clocks per annum. Just like any other industry in India, clock industry was going through a recession and now due […]

Govt to Release GST and Custom Refunds

Govt to Discharge GST & Custom Refunds to Businesses Including MSMEs

In the wake of the country’s current situation where the entire economy has collapsed due to the COVID-19 outbreak, the Indian government has taken another big step favoring the businesses and taxpayers. The government on Wednesday declared that it is going to release ‘Custom Refunds’ for around 1 lakh businesses including MSMEs View the impact […]

No Tax Penalties Due to COVID-19

Tax Penalties & Deadlines Removed by Govt Due to COVID-19

The government is coming up with ways to smoothen the difficulties faced by the population because of the spread of coronavirus in the country. Both economic and health-related measures are being taken to control the situation. The outbreak of COVID-19 has put the people under a lot of stress as firstly the situation is not […]

Latest Updates Under GST by the Government

Latest Official Announcements on GST by the Govt of India

The government keeps on amending and updating the provisions related to different types of taxes. The reason could be anything, but in most cases, the changes are made for the ease of the taxpayers. In this article, you will get to know about such amendments related to GST Update. Goods and Services Tax (GST) in […]

IT, Bank & Other Changes from 1st April

Income Tax, Bank, Petrol & Other Changes Started From 1st April, Check Out

The whole country is trying to fight the outbreak of COVID-91 in its own way. The government is also taking the necessary decisions to control the further spread of coronavirus. Lockdown is imposed by the government for the same. The whole country will be locked down till 14th April, 2020, but some changes will be […]

18% GST Rates on Mobile

Apple & Xiaomi Increase Mobile Prices Due to Hike in GST rates

The mobile sector saw a hike in the rates of GST (Goods and Services Tax) from earlier 12% to now 18%. Simultaneous to this hike in the GST rates, mobile manufacturing units have increased the prices of their smartphone models. India surpassed the USA to become the second-largest mobile market in the world and an […]

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