June 2021 – SimBizz

Interest on Inoperative EPF accounts | Will I get interest on my Dormant EPF account?

Posted on June 27, 2021 By Priyanka Menon

The Employees’ Provident Fund Organization (EPFO) has around Rs.27,000 crore lying in inoperative accounts. There are chances that a small portion of this unclaimed money is yours. Many employees feel that the EPF account transfer is a cumbersome process and is a painful experience. It is often ob...

General Updates

Gram Sumangal Rural Postal Life Insurance Scheme

Posted on June 16, 2021 By Priyanka Menon

Gram Sumanagal Rural Postal Life Insurance Scheme is an endowment scheme which provides people living in rural areas to receive cashbacks on a regular basis along with insurance cover. There are two types of plans under this scheme. The Gram Sumangal Rural Postal Life Insurance Scheme, also referred...

General Updates, Labour Laws

Withdrawing PF money due to covid? Know these tax rules

Posted on June 7, 2021 By Priyanka Menon

The government had last year allowed employees to withdraw from their provident fund account in case they needed emergency funds due to financial stress caused by the covid-19 pandemic. Under the provision, a member of the Employees’ Provident Fund Organisation (EPFO) can withdraw up to 75% of h...

Income Tax

Income Tax Department to launch new e-filing portal today

Posted on June 7, 2021 By Priyanka Menon

The Income Tax Department will on Monday launch a new e-filing portal to further ease the filing of income tax returns (ITRs). The e-portal, which, the Central Board of Direct Taxes (CBDT) in a press release said, will provide a “modern, seamless” experience to taxpayers, will be available at ...

GST

GST committee recommends against lowering tax rate on vaccines

Posted on June 4, 2021 By Priyanka Menon

The fitment committee of the GST Council, a key panel of Centre and state officials which looks into tax rate changes, has recommended against lowering the tax rate on vaccines from the present 5%. It said that granting complete exemption would result in increased cost of production, because the dom...

GST

Compliances under GST for NRIs

Posted on June 4, 2021 By Priyanka Menon

The goods and services tax (GST) is one of the biggest fiscal reforms in India. We had covered details relating to the applicability of GST registration and procedure registration in our earlier article titled GST registration requirements for NRIs. The present article covers the aspects subsequent ...

GST

GSTN added New features in GST Search Taxpayer tab at GST Portal

Posted on June 4, 2021 By Priyanka Menon

The Goods and Service Tax Network (GSTN) added new features in the GST Search Taxpayer tab at GST Portal. The two separate info namely Profile and Place of Business (PoB) has been added in the GST Search Taxpayer tab at GST Portal. The PoB is showing the Mobile Number and Email of the Principal Sign...

GST

GST Amnesty Scheme and Benefits

Posted on June 4, 2021 By Priyanka Menon

The word Amnesty is defined as “a pardon extended by the government to a group or class of people, usually for a political offense, the act of a sovereign power officially forgiving certain classes of people who are subject to trial but have not yet been convicted.” In respect of GST, the Govern...

Income Tax

New dates for filing returns, issuing Form 16 and other details New ITR filing deadline

Posted on June 4, 2021 By Priyanka Menon

The income tax (I-T) department recently extended the deadline for filing returns for the year 2020-21 amid coronavirus pandemic. Along with easing pressure on individual taxpayers, these relaxations will also reduce the compliance burden for businesses struggling in the current environment. What ar...

Understanding High-Value Cash Transactions and Income Tax Notices in India

In India, high-value cash transactions are regulat...
Making GST Payments: A Complete List of Newly Added Banks

Paying your Goods and Services Tax (GST) has never...
Understanding Income Tax Returns (ITR) Forms and Their Importance

An income tax return is a document filed with the ...
Cash Deposit Limit in Saving Account as Per Income Tax Act (2024)

The cash deposit limit in savings accounts refers ...

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Interest on Inoperative EPF accounts | Will I get interest on my Dormant EPF account?

Gram Sumangal Rural Postal Life Insurance Scheme

Withdrawing PF money due to covid? Know these tax rules

Income Tax Department to launch new e-filing portal today

GST committee recommends against lowering tax rate on vaccines

Compliances under GST for NRIs

GSTN added New features in GST Search Taxpayer tab at GST Portal

GST Amnesty Scheme and Benefits

New dates for filing returns, issuing Form 16 and other details New ITR filing deadline

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