Page 22 - Finance Act News Today

Responding to widespread public criticism of electoral bonds in the light of recent revelations, Nirmala Sitharaman, the Finance Minister, is reported to have

The Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that no service tax is payable on installations on CNG kits in the absence of separate invoices. The bench...

According to Section 43B(h) of the Income Tax Act, if a larger company does not pay an MSME on time -- within 45 days in case of written agreements -- it cannot deduct that expense from its taxable income, leading to potentially higher taxes.

If a larger company does not pay an MSME on time -- within 45 days in case of written agreements -- it cannot deduct that expense from its taxable income, leading to potentially higher taxes

Indian exporters have urged the government to exempt them from the 45-day payment rule for goods bought from micro and small enterprises (MSEs) as it will impact their businesses. In a letter to Prime Minister Narendra Modi, chiefs of major export promotion councils and federation of Indian export

Exporters Seek Exemption From 45-day Payment Rule: The new rule, Section 43B(h) of the Income Tax Act, introduced in the Finance Act 2023, is designed to make sure small businesses get paid on time. It allows companies to get tax breaks if they pay their small business suppliers within the time limits set by the MSMED (Micro, Small and Medium Enterprises Development) Act, 2006.

Stakeholders from several sectors have faulted four Nyanza counties over the lack of transparency in the budget-making processes which blocks journalists and the public from the crucial process.

NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given to all the members of Systems Limited that 47th Annual General Meeting of the Company is scheduled to be...

Notices sent a few weeks ago to multiple startups by the I-T department asking for genuineness, credit worthiness of their investors. Post the notices were served, some startups have been asked to cough up taxes and penalties, if their submissions havent been adequate. The tax demands have been arrived at by clubbing the funding with the startups income.

60-plus population is 149 million, around 10.5% of the total population: They can be a powerful vote bank