Tag: #beneficial

Recent Tax Announcements made and Regulatory Reliefs given due to the COVID-19 Effect : An Indian Context

As the world battles the COVID-19 pandemic, countries are moving to stringent measures like lockdowns and curfews. With markets crashing, the global economy is staring at a deep distress.

Entire world is fighting against epidemic COVID 19 outbreak and Hon’ble Prime Minister of India Sh. Narendra Damodardas Modi has taken much need precautionary step of complete lockdown from midnight 12’o clock of 24th March, 2020 onwards for next 21 days and again extended to 3rd May, 2020 for another 19 days.

In this difficult environment, each regulatory body is releasing relief measures and guidelines for easing out the impact of COVID 19. On the financial and compliance front, announcements have been flowing from the Government authorities in the form of deferment of statutory due dates or relaxation in payment terms to overcome the financial crisis being faced due to lock-down.

Similar to several countries, the Government of India has begun working on an economic package to deal with the impact of the pandemic. Realising the hardships faced by its citizens, the Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman has announced several important relief measures on tax and regulatory aspects.

The Finance Minister also announced that necessary legal circulars and legislative amendments for giving effect to these relief measures will be issued by the concerned Authority.

Following is the summarised form of the key announcements made by the Finance Minister here below:

Direct Taxes

1. Extension of tax return filing deadline

The deadline for the following types of tax return have been extended from 31 March 2020 to 30 June 2020

  1. Belated income-tax return for tax year 2018-19
  2. Revised income-tax return for tax year 2018-19

2. The timeline for linking Aadhaar with PAN has been extended to 30 June 2020

3. Relief with regards to delay in payment of taxes

  • Interest at the reduced rate of 9% (i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged on delay in respect of following payments made between 20 March 2020 and 30 June 2020:
    1. Advanced tax
    2. Self-assessment tax
    3. Regular tax
    4. Taxes withheld or collected at source
    5. Equalization levy
    6. Securities Transaction Tax and
    7. Commodities Transaction Tax
  • Penalty and late fees in relation to the above mentioned payments are to be waived off

4. Extension of compliance due dates

In respect of the following, where the due dates fall between 20 March 2020 and 29 June 2020, the revised due dates shall be 30 June 2020:

  • Issue of notice
  • Intimation
  • Notification
  • Approval order
  • Sanction order
  • Filing of appeal
  • Furnishing of return, statements, applications, reports, any other documents
  • Completion of proceedings by the authority and
  • Any compliance by the taxpayer including investment in saving instruments or investments for roll over benefit of capital gains

5. The Direct Tax Vivad se Vishwas Act, 2020:

The timeline for payment of disputed arrears without attracting additional 10% amount under the Vivad se Vishwas Scheme extended from 31 March 2020 to 30 June 2020.

Indirect Taxes

1. Extension of GST return filing deadlines:

  • The last date for filing the forms GSTR-3B due in months of March, April and May 2020 (i.e. returns of February, March and April 2020) will be extended till 30 June 2020 (in staggered manner)
  • Date for filing GST annual returns of FY 18-19, which is due on 31 March 2020 is extended till the last week of June 2020

2. Relief in respect of payment of taxes

  • For those having aggregate annual turnover less than INR 50mn, no interest, late fee, and penalty will be charged for the period
  • However, for those having an aggregate annual turnover of more than INR 50mn, a reduced rate of interest @ 9% per annum will be charged from 15 days after due date (current interest rate is 18 % per annum) for the delayed payment between 20 March 2020 and 30 June 2020, but no late fee and penalty will be charged if complied before 30 June 2020
  • Last date for making payments by the Composition dealers for the quarter ending 31 March 2020 will be extended till the last week of June 2020
  • Payment under Sabka Vishwas Scheme shall be made without interest till 30 June 2020

3. Extension of compliances due dates

In respect of the following under GST law, where the due date falls between 20 March 2020 and 29 June 2020, shall be extended to 30 June 2020:

  • Issue of notice
  • Notification
  • Approval order
  • Sanction order
  • Filing of appeal and
  • Furnishing of return, statements, applications, reports, any other documents

4. Date for opting for composition scheme for the F.Y. 2020-2021 is extended till 30 June 2020

5. 24X7 Custom clearance till end of 30 June 2020

Corporate Laws 

1. CARO 2020

Applicability of Companies (Auditor’s Report) Order, 2020 will be effective from FY 2020-2021

2. Board meeting

The mandatory requirement of holding Board meetings within prescribed interval provided by the Companies Act, 2013 (120 days) shall be extended by a period of 60 days till next two quarters i.e. till 30 September

3. Meeting of Independence Directors

For FY 2019-20, if mandatory one meeting of independent directors is not held, the same will not be treated as non-compliance

4. Form INC-20A- Declaration of commencement of Business

New Companies being given 6 more months for filing declaration of commencement of business

5. Debenture

Time line to invest 15% of debentures maturing in a particular year has been extended from 30 April 2020 to 30 June 2020

6. Deposit Reserve

Requirement of creating a Deposit Reserve (equal to 20%) of deposits maturing during FY 20-21, extended to 30 June 2020 instead of 30 April 2020

7. Minimum residency

Non-compliances with 182 days residency in India by Director will not treated as non-compliance

8. No Additional Fees

Moratorium period from 1 April 2020 to 30 September 2020, during which no additional fee would be charged in respect of any filing, irrespective of its due date

9. Insolvency and Bankruptcy Code 2016 (IBC)

  • Minimum amount of default required to initiate insolvency and liquidation on corporate debtors raised from INR 1 lakh to INR 1 crore, effective immediately, in order to prevent admission of MSMEs defaulting due to economic conditions in lieu of COVID-19
  • Proposed Suspension of new initiations of Corporate Insolvency Resolution Process under Sections 7, 9 and 10 of IBC for 6 months, contingent upon scenario beyond 30 April 2020 as a safeguard companies from defaults attributable to financial downturn pursuant to the COVID-19 pandemic

Among the measures announced late on Tuesday, the government extended the e-way bill validity for the second time since the lockdown was imposed. The e-way bill generated on or before March 24 and expiring during the March 20-April 15 period would now be valid till May 31. This is likely to help trucks stuck en route to reach their destinations.

Further, the notification extended by three months the deadline for furnishing the annual return and GST audit for financial year 2018-19 to September 30. Additionally, a taxpayer can now furnish monthly return GSTR-3B showing nil sales through SMS using the registered mobile number. This return would be verified by a registered mobile number based one-time password (OTP) facility, the notification said.

WEBSITES REFERRED

1)https://www.mondaq.com/india/operational-impacts-and-strategy/915470/covid-19-impact-indian-government-announces-tax-and-regulatory-reliefs

2)https://vjmglobal.com/blog/covid-19-statutory-businesss-regulatory-relief/

3)https://www.financialexpress.com/economy/procedural-relief-to-gst-payers-but-experts-say-no-substitute-for-financial-package/1950617/

4)http://www.lawstreetindia.com/experts/column?sid=354

5)https://www.a2ztaxcorp.com/fm-releases-ordinance-on-direct-tax-on-relaxation-provided-on-24th-march-2020/

6)https://www.a2ztaxcorp.com/fm-releases-ordinance-on-indirect-tax-on-relaxation-provided-on-march-24-2020/

7)https://dashnews.org/tax-day-in-the-u-s-causes-confusion-within-the-crypto-space/

Curiosity

“When you’re curious, you discover many interesting things to try to to .”
– Walt Disney

Why does one need curiosity, and what does one gain out of it?

Curiosity is that the key to knowledge and to improvement. A curious person wants to understand the explanations behind things, and if he’s not satisfied with the answers, his curiosity will lead him to hunt it in other ways and in other places.

Curiosity has many benefits and brings interest, enthusiasm and therefore the desire to understand into one’s life. It makes life more interesting and expands one’s horizons.

Curiosity has also a negative side, when it turns into prying into other people’s life, seeking some dark or unsavory facts about them and using it during a way that hurts people.

I am not talking about this kind of curiosity, nor about reading the gossip columns, or seeking unimportant information. In this post, I am talking about the positive and useful benefits of curiosity.

Amazing Facts about Curiosity You Need to Know

  1. A curious person never feels bored

Do you sometimes feels bored, and zip seems to be interesting?

A curious person seldom gets bored. There is always something new to know, to learn, to explore or to fix. Life for a curious person is always interesting

A curious person can find interest and enthusiasm at any place or time, in the most boring place, and in the most exciting place.

  1. Curiosity at Work

As a curious person, you’ll show more interest in your work. Being curious, you’ll ask questions, learn, read and expand your knowledge concerning your job. This will lead you to be more efficient and expert in your work, and would bring you success and promotion.

  1. A curious person is an interesting and an open-minded person

Curiosity opens your mind to new facts and knowledge , understanding people, and learning about cultures, other ideas, and other ways of doing things. It makes you inquisitive and desirous to explore new ideas and new ways of making things.

A person with an inquisitive mind has more knowledge and information, looks for answers and solutions, and brings interest, enthusiasm and liveliness into a conversation.

  1. Curiosity brings creativeness into one’s life

When you are curious, you become creative, because you’ll see things during a different or broader way. This is most useful for a writer, a painter and for any kind of artist. It is also useful in business and in any kind of job, since you’ll be seeking creative and new ways of doing things.

In order to create new things or do things in a different way, you need to look around you, see what other people do, ask questions, and then do it differently and better.

  1. Popularity and gaining friends

When you are curious, you show interest in people, ask questions, and let them talk about themselves, rather than making the conversation revolve about you. This causes you to a more pleasant, popular and friendly person.

It might seem strange, but when you ask questions, show interest in the others and encourage them to speak about themselves, people regard you as a most friendly person, even if you hardly talk.

  1. Curious people have a singular way of watching things

A curious mind is more inquisitive, and needs to understand and understand what people think and why.

Curious people got to know the “why”, “how”, “where” and “when” of each subject they explore. This gives them a wider perspective on life, events and straightforward facts. This curiosity opens new vistas and ways of looking at life, helps them see things from other points of view, and broaden their mind and knowledge.

These aren’t the sole reasons why you would like to develop curiosity, but they’re a couple of of the important ones.

How Can You Cultivate Your Curiosity?
Usually, we are all interested by things that we truly love and care about, but hardly show real interest in other things. This attitude prevents us from acquiring important information and experience that can help us in many ways.

Would you like to cultivate your curiosity? It is simple and within your reach.

  1. Become more interested in people and in the world around you

Ask questions, ask other people’s opinion on various topics and listen to what they say. Show real interest in people and the world around you.

Listening is the key to improving curiosity.

Don’t be afraid or shy to ask questions and seek answers. Show interest and desire to acquire knowledge and understanding. This will make your life more interesting, exciting and fulfilling.

  1. Make a conscious decision to explore things you don’t care about

It might not be easy to explore things that you don’t care about, but it could be a very rewarding experience.

For example, if you don’t care about football, basketball or soccer, start getting interested in one of these sports. Ask questions, read about them, and go see one of them.

If you dislike classical music, start listening to that music. Explore the music of the classical composers. Listen to their music and find one that you like more, and start listening to his music, and even read about his life and his music.

Try to examine science, astronomy or geography and the other topic. Even if these topics don’t interest you now, you would possibly discover new doors to something interesting and exciting. You need to make the first step and show interest.

  1. Read books about diverse topics

Read books about topics that interest you, and even on topics that do not interest you. Read nonfiction books about various topics, not only stories and novels. This will broaden your visions, increase your knowledge, and help you in many areas of your life.

I am sure that opening your mind to new interests and new knowledge will broaden your horizon, help you cultivate your curiosity, and make you a more interesting and knowledgeable person.

Ingredients and Benefits of Alpha Femme Keto Genix

Ingredients of Alpha Femme Keto Genix Canada
Ingredients play a key role in determining the quality of the product. The ingredients in this formulation are completely safe, causing no harmful effects to the body. Natural and herbal ingredients guarantee a safe way of losing weight. The ingredients in this supplement are-

  1. Beta hydroxyl butyrate- it is responsible for starting the process of ketosis in the body. It plays a major role in the entire process of ketosis as it cuts away fat quickly and effectively. It keeps you active and energetic throughout the day.
  2. Bioperine- it plays a key role in assuring no more deposition of fat in the body. Often removal of existing fat brings new fat. Bioperine takes care of this problem. It makes your weight loss a permanent process.
  3. Moringa extracts- it is grown across the United States. It is completely organic in nature and possesses unique fat burning abilities. It naturally reduces fat content.
  4. Turmeric extracts- these extracts are famous for their anti-bacterial and anti-inflammatory properties. It protects you against any problem while you’re on ketosis.
  5. Lecithin- it plays a role in cleansing your digestive tract of all toxins. This automatically leads to a boosted metabolism. A boosted metabolism leads to a faster and more effective weight loss in a natural way.
  6. Garcinia Cambogia- it is a fruit extract which is rich in hydroxycitric acid. Hydroxycitric acid works towards cutting of fat cells. Moreover, it suppresses appetite and boosts metabolic rate of the body. All of these lead to an effective weight loss.
  7. Green tea extract- it detoxifies the body. A faster detoxification occurs when the metabolism is fast. When the metabolism is fast, fat cells burn faster. It also maintains good amount of energy for the body to work. It is the most sensitive ingredient.
  8. Lemon extract- lemons are full of citric acid which plays a role in faster detoxification of the body. A faster detoxification means effective weight loss.
  9. Silicon dioxide- it prolongs and maintains the ketosis process. Because of this ingredient, ketosis goes on longer than other supplements.
  10. Raspberry ketone- it aids weight loss by creating more number of ketones in the body. A good measure of ketones in the body adds to its capacity of burning fat.

Benefits
• Cutting of stubborn fat.
• Provides high endurance throughout the day.
• Boosts the metabolism of the body.
• Suppresses food cravings.
• Induces ketosis in the body.
• Stops production of citrate lyase enzyme.
• Tones your body.
• Eliminates toxins from the body.

Pros
• 100% organic pill.
• Permanent weight loss.
• Effective fat melting.
• Suitable for both males and females.

Cons
• Not fit for use by pregnant women.
• Avoid consumption of alcohol during use of this supplement.
• No results if you skip dosage.

Does Alpha Femme Keto Genix Canada have any side effects?
No. This supplement doesn’t have any side effects as it contains only natural and herbal ingredients. It has proven to be a boon for obese people.
Where to buy Alpha Keto Genix?
You can buy these pills easily from its original website. Register yourself first, make an easy and safe online payment and boom! You will have this excellent product at your doorstep.

How to use Alpha Keto Genix Canada?
This product comes in a package of 60 capsules. You should consume 2 capsules daily without any skip. Ensure a time gap of 12 hours between both the doses. Do not skip any dose and see the results in 30 days.

Velofel South Africa- Pros and Cons

Velofel South Africa consists of all natural and herbal ingredients. They are of extremely high quality and purity. They are-
 Nettle root extract- it plays a major role in boosting testosterone levels. It stops the production of enzyme, aromatase, which is responsible for converting testosterone to oestrogen, thus, testosterone levels naturally increase as compared to oestrogen levels.
 Tongkat Ali- it is a type of antioxidant. Antioxidants are beneficial due to many reasons but here, it prevents experience of erectile dysfunction. Moreover, it increases the penal size and grants a long lasting erection.
 Horny goat weed- it increases sexual urges to a large extent primarily by boosting testosterone levels.
 Orchic substance- it is responsible for increasing libido. It also plays a role in increasing strength, energy and overall vigour of the body.
 Zinc- it plays a role in determining potency. It improves the sperm count and motility.
 Citrus fruits- citrus fruits improve the lasting time, which improves the sexual satisfaction experience.
 Muira Puama- it is an herbal ingredient which provides nutrients, vitamins and minerals to the body. It improves assimilation of Velofel readily in the body.
 Pomegranate- it is a type of a citrus fruit which increases excretion of toxins from the body. When the toxins flush out, the working efficiency of the supplement improves.
 Gingko Biloba- it is plant which is responsible for production of nitric oxide in the body. Nitric oxide releases all sort of sexual tension and makes your experience smoother and convenient.
 Tribulus terrestris- it aids in boosting testosterone by maintaining a good balance of all sexual nutrients.
 Boron extracts- these extracts prolong the ejaculation time, which makes you last longer in bed.
 Epimedium- it plays a key role in sex as it betters the flow of blood to the penis, this automatically solves the problem of erectile dysfunction.
 Bioperine- its origin is pepper extract. It absorbs nutrients and minerals in the intestinal wall and boost blood flow to the genital area.

Benefits

Let us know about the various benefits Velofel South Africa provides us with-

  1. It produces nitric oxide which increases blood flow to the penis and helps keep it erect.
  2. Best male enhancement supplement.
  3. It causes no side effects as it only contains natural and herbal ingredients.
  4. It consists of no chemical or toxic ingredients.
  5. It increases the body’s stamina to perform longer and strenuous sessions.
  6. It prevents occurrence of erectile dysfunction by improving blood flow to the penile area.
  7. It controls early ejaculation.
  8. It boosts libido levels, which promote the quality of experience.
  9. It maintains an overall sense of energy and vigour in the body.
  10. As it boosts testosterone, it empowers muscle building.
  11. It increases self-confidence.
  12. It improves sexual immunity by provision of nutrients.
  13. It provides harder erections solving the problem of brokenness.
  14. It provides a 100% satisfactory climax.
  15. It increases length, girth and size of penis.
  16. Strengthens relations with your partner.

Pros of Velofel South Africa

 Quality sexual experience.
 Long lasting in bed.
 Natural enhancement of genitals.
 Boosts confidence.

Cons of Velofel South Africa

 Not fit for teenagers.
 Not fit for females at all.
 Only available online for purchase.

Side effects

Men are inquisitive to know if Velofel South Africa causes any side effects. The answer is NO. This supplement causes no side effects as it is a composition of only natural and organic ingredients. It is free of all chemicals and toxins.