Startup

SOON, NO E-WAY BILL IF GST RETURNS NOT FILED FOR 6 MONTHS – THE ECONOMIC TIMES

SOON, NO E-WAY BILL IF GST RETURNS NOT FILED FOR 6 MONTHS – THE ECONOMIC TIMES Non-filers of GST returns for 6 consecutive months will soon be barred from generating e-way bills for movement of goods. The Goods and Services Tax Network (GSTN) is developing such IT system that businesses who have not filed returns …

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GST: E-Way Bill to be integrated with FASTag from April

The Government is planning to integrate NHAI’s FASTag mechanism from April to help track movement of goods and check GST evasion. The Department of Revenue has set up a committee including officers to integrate e-way bill, FASTag and DMIC’s Logistics Data Bank (LDB) services, after consultation with transporters. It has come to our notice that …

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SEBI: ISSUES RATIONALISED GUIDELINES FOR PUBLIC ISSUE OF REITS AND INVITS UNITS

SEBI: ISSUES RATIONALISED GUIDELINES FOR PUBLIC ISSUE OF REITS AND INVITS UNITS SEBI modifies Guidelines for public issue of – (i) Real Estate Investment Trusts (‘REITs’), and (ii) Infrastructure Investment Trusts (‘InvITs’) units, in order to further rationalise and ease the process of public issue; Inserts a proviso, laying down allocation to Anchor Investors in …

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Some Very Interesting Predictions about future

Some Very Interesting Predictions.. 1-Auto repair shops will disappear. 2-A petrol/diesel engine has 20,000 individual parts. An electrical motor has 20. Electric cars are sold with lifetime guarantees and are only repaired by dealers. It takes only 10 minutes to remove and replace an electric motor. 3-Faulty electric motors are not repaired in the dealership …

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Highlights of Companies (Amendment) Ordinance 2019

Company Law Update Companies (Amendment) Ordinance 2019 Commencement Certificate is mandatory now to be obtain within 6 months of Incorporation without which, it can not comment its business activity or borrow money. The ROC can strike off a company if the address of Regd Office is bogus or incomplete/improper address. Conversion of public Ltd to …

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Government eases process for startups to seek tax exemption on angel fund investments – The Economic Times

Government eases process for startups to seek tax exemption on angel fund investments – The Economic Times The government has eased the procedure for startups to seek income tax exemption on investments from angel funds as part of efforts to address concerns of budding entrepreneurs, official sources said. Various startup founders have recently claimed of …

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News Updates

Government had selected Major IT Company Infoysys to implement next gen- Income tax filing system which will reduce IT Return processing time to 1 day from current average time of average 63days. The project is to be completed in 18 months. The government has sanctioned approx ₹4200 cr budget for the project. Thank you CA …

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Exemption from Angel Tax – Section 56(2)(viib) update- start up recognised by DIPP to be eligible for exemption from the section provided

Section 56(2)(viib) update- start up recognised by DIPP to be eligible for exemption from the section provided: Agreegate amount of paid up share capital including premium does not exceed Rs 10 crores Investor has minimum returned income of Rs 50 Lakh or more in previous FY (preceding investment) Net worth of such investor exceeds Rs …

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