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MCA notified a Web Based Form (CAR) for Companies and LLPs for confirming their readiness to deal with COVID-19 threat

As per the Advisory issued by the Ministry of Corporate Affairs (MCA), all companies & LLPs are requested to report their compliance through their authorized signatories for confirming their readiness towards COVID-19 threat by filing a new web based form called CAR (Company Affirmation of Readiness towards COVID-19) which will be deployed on March 23, … Continue reading “MCA notified a Web Based Form (CAR) for Companies and LLPs for confirming their readiness to deal with COVID-19 threat”

What is Advance Tax?

What is ADVANCE TAX? Advance tax is the tax, which is paid before the end of the financial year. An advance calculation of income and taxes is made at specified dates. The due dates for payment of advance tax are prescribed by the Income Tax Department. If the taxes are not paid as per prescribed … Continue reading “What is Advance Tax?”

All about Intimation u/s 143(1) received from Income Tax Department

Intimation u/s 143(1) received from Income Tax Department When you have received an intimation there are things to cheer for and may be somethings to further look into. Firstly the good thing is that the Income Tax Return which you have filed for the relevant year is received and processed by the Income Tax Department. … Continue reading “All about Intimation u/s 143(1) received from Income Tax Department”

Income Tax Slab Rates for Financial Year 2019-20 (Assessment Year 2020-21)

Income Tax Slab Rate for FY 2019-20 (AY 2020-21) for Individuals: Individual (resident or non-resident) below the age of 60 years on the last day of the relevant previous year: Net Total income Income-Tax rate Up to Rs. 2,50,000 Nil Rs. 2,50,001 – Rs. 5,00,000 5% Rs. 5,00,001 – Rs. 10,00,000 20% Above Rs. 10,00,000 … Continue reading “Income Tax Slab Rates for Financial Year 2019-20 (Assessment Year 2020-21)”

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