Provisional Direct Tax collections for the Financial Year 2020-21 show growth of almost 5% Net Direct Tax collections represent 104.46% of the Revised Estimates of Rs. 9.05 lakh crore of Direct Taxes for the...
Due Dates for various tax related compliances extended The due date of all Income Tax Returns for Assessment Year 2020-21 will be extended to 30 November, 2020. Similarly, tax audit due date will be...
• Revenues of Power Distribution Companies (DISCOMs) have plummeted.• Unprecedented cash flow problem accentuated by demand reduction• DISCOM payables to Power Generation and Transmission Companies is currently ~ Rs 94,000 cr• PFC/REC to infuse...
EPF Contribution to be reduced for Employers and Employees for 3 months to 10% from 12% for all establishments covered by EPFO for next 3 months Statutory PF contribution of both employer and employee...
Employees Provident Fund Support for business and organised workers The scheme introduced as part of PMGKP under which Government of India contributes 12% of salary each on behalf of both employer and employee to...
No Global tenders for Government tenders of uptoRs 200 crore Global tenders to be disallowed upto Rs 200 crores • Indian MSMEs and other companies have often faced unfair competition from foreign companies.• Therefore,...
Definition of MSME will be revised by raising the Investment limit. An additional criteria of turnover also being introduced. The distinction between manufacturing and service sector will also be eliminated. Low threshold in MSME...
Rs 50,000 cr. Equity infusion for MSMEs through Fund of Funds Govt will set up a Fund of Funds with a corpus of Rs 10,000 crore that will provide equity funding support for MSMEs....
Provision made for Rs. 20,000 cr subordinate debt for two lakh MSMEs which are NPA or are stressed. Government will support them with Rs. 4,000 Cr. to Credit Guarantee Trust for Micro and Small enterprises (CGTMSE). Banks are expected to provide...
Rs 3 lakh crores Collateral-free Automatic Loans for Businesses, including MSMEs. In order to provide relief to Business In the press conference here today, Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman...
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