Ind-Aus ECTA becomes effective from December 29, 2022
The Economic Cooperation and Trade Agreement (Ind-Aus ECTA) between India and Australia is now in force, which means it will have legal ramifications as of December 29, 2022. India …
Tag: GOI
Government Schemes and Initiatives to boost Manufacturing Sector in India
Government of India has implemented a number schemes/initiatives to promote/boost the manufacturing sector in India, according to the information given by Shri Som Parkash, Minister of State for Commerce …
Govt. expands Scope of RoDTEP Scheme from Dec. 15, 2022
The government has announced that the scope of the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme will be expanded to include Chemicals, Pharmaceuticals, and Iron and …
Indian Government Accounting Standards (IGAS and IGFRS)
Government accounting in India follows cash basis of accounting. Government Accounting Standards Advisory Board (GASAB) constituted by the Comptroller and Auditor General of India with support of Government of …
Govt. Clarification on Premature Closure due to death of SCSS Account holder
Government has clarified certain concerns, relating to the premature closure of SCSS Accounts by banks/post offices, upon death of the SCSS Account holder(s).
Clarification on ‘No deductions for cess and surcharge’ u/s 40
IT S. 40(ii)(a) disallows payments on account rates/ taxes on the profits or gains of any business or profession in computing the taxable PGBP. However, some taxpayers claim deduction …
Govt. hikes NPS Contribution and Family Pension for Bank Employees
Govt. has announced to hike the NPS Contribution and Family Pension for Public Sector Bank Employees, i.e. Bank Employees Family Pension to be increased to 30% of last pay …
Rs. 29.87 Lacs Crore Spent for Various Relief Measures by GOI during COVID-19 pandemic
Govt. of India has spent Rs. 29.87 Lac Crores on various relief measures covering several sectors, including health infrastructure under the Atmanirbhar Bharat Packages, during COVID-19 pandemic, to provide …
MCA Scheme for Relaxation to Companies/ LLPs during COVID 19
Various Schemes launched by MCA during COVID 19 pandemic for providing much required relaxation to Companies/ LLPs from certain compliance requirements/ deadlines, are detailed here-under: i) Companies Fresh Start …
Highlights of Special GOI Package of Rs 20 lakh crores for Atmanirbhar Bharat (COVID-19)
Key Highlights of the Special economic and comprehensive package of Rs 20 lakh crores Announced by the Govt. of India, for relief and credit support related to businesses, especially …