RELIEF TO SMALL TAX PAYERS Raise the ceiling of tax rebate under section 87A from `2000 to `5000 to lessen tax burden on individuals with income upto `5 laks. Increase the limit of deduction of rent paid under section 80GG from `24000 per annum to `60000, to provide relief [...]
Budget Highlights:- (1) Reduction in rate of Corp. tax from 30% to 25% for next 4 years. 2) Increment in Service tax from 12.36% to 14 % 3) Increment in Excise duty from 12.36% to 12.50%. 4) Abolition of wealth tax. Instead increment in 2% additional surcharge on super rich [...]
For the first time internal audit has been mandatory for certain class of companies. Rule 13 of the Companies (Accounts) Rules 2014 specifies that 1) every listed company; 2) every unlisted public company having paid up share capital of Rs.50 crores or more during the preceding financial year OR turnover of Rs.200 crores or [...]
The Ministry of Corporate Affairs has published the Table of Fees pursuant to Rule 12 of the Companies (Registration of Offices and Fees) Rules, 2014. Accordingly, the fees payable for registration of documents at the MCA portal are as follows: For company having nominal share capital 1) of upto Rs.100,000 [...]