News, Articles

Upgradation of Agriculture Technology

Indian Council of Agricultural Research (ICAR) is continuously working to upgrade technology and provide quality seeds to farmers. During this process the advancements made in the agricultural sciences both within India and outside are considered for their replication under the suitable farming situations. ICAR focuses on development/ adoption of new technologies such as- high yieldingContinue reading “Upgradation of Agriculture Technology”by Business So Simple21st Jul 2021

Improving Krishi Vigyan Kendras (KVKs)

Ministry of Agriculture & Farmers Welfare Posted Date:- Jul 20, 2021 The following steps have been taken by the Indian Council of Agricultural Research to make Krishi Vigyan Kendras (KVKs) more effective in the interest of farmers: Technical staff of the KVKs are regularly trained on latest agricultural technologies for upgrading their knowledge and skill.Continue reading “Improving Krishi Vigyan Kendras (KVKs)”by Business So Simple21st Jul 2021

One District One Focus Product Scheme

The One District One Focus Product (ODOFP) programme cover products of agriculture and allied sectors for 728 districts of the country. The Government has decided to converge resources from ongoing centrally sponsored schemes such as Mission for Integrated Development of Horticulture (MIDH), National Food Security Mission (NFSM), Rashtriya Krishi Vikas Yojana (RKVY), Paramparagat Krishi VikasContinue reading “One District One Focus Product Scheme”by Business So Simple21st Jul 2021

National Project on Organic Farming

Under Capital investment Subsidy Scheme (CISS) of National Project on Organic Farming (NPOF), 100% assistance is provided to State Government / Government agencies for setting up of mechanized fruit/vegetable market Agro waste compost production unit  up to a maximum limit of Rs.190.00 lakh /unit (for 3000 Total Per Annum (TPA) capacity).  Similarly, for individuals/ privateContinue reading “National Project on Organic Farming”by Business So Simple21st Jul 2021

Progress in Doubling Farmer Income

The strategy adopted by the Government for increasing the income is (i) higher volume of output through higher productivity (ii) lower cost of production and (iii) higher real remunerative returns on the farmers’ produce. In case of production the farmers have been registering higher productivity across all segments of Agriculture. There has been record growthContinue reading “Progress in Doubling Farmer Income”by Business So Simple21st Jul 2021

Impact of New Farm Laws

Government had promulgated “The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Ordinance, 2020”, “The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Ordinance, 2020”, and “The Essential Commodities (Amendment) Ordinance, 2020” on 5th June, 2020 by following the due procedure. Union Government had enacted the new Farm Laws under entry 33Continue reading “Impact of New Farm Laws”by Business So Simple21st Jul 2021

Boosting Production of Pulses

The seed minikits of pulses are distributed to the farmers of major pulse growing States under the National Food Security Mission (NFSM). The district wise allocation and distribution of seed minikits is managed by the respective State Governments. The Direct Benefit Transfer (DBT) is implemented by the States under the National Food Security Mission (NFSM).Continue reading “Boosting Production of Pulses”by Business So Simple21st Jul 2021

Sustainble Agriculture

The Government has adopted several developmental programmes, schemes, reforms and policies that focus on higher incomes for the farmers and to promote Sustainable Agriculture and Farmers Prosperity. All these policies & programmes are being supported by higher budgetary allocations, non-budgetary financial resources by way of creating Corpus Funds like Micro Irrigation Fund and Agri-marketing schemeContinue reading “Sustainble Agriculture”by Business So Simple21st Jul 2021

*News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-21st July 2021*

All newspaper compilation from Economic times, Live mint & Financial express on Entrepreneurship, Taxation, Personal Finance & Succession planning. Refer link: 1. *How much tax do you pay on debt investments?* https://www.livemint.com/money/personal-finance/how-much-tax-do-you-pay-on-debt-investments-11626812734581.html 2. *Income Tax Forms 15CA/15CB filing: CBDT extends due date again in view of new e-filing portal problems* https://www.financialexpress.com/money/income-tax/income-tax-forms-15ca-15cb-filing-cbdt-extends-due-date-again-in-view-of-new-e-filing-portal-problems/2294290/ 3. *Infosys acknowledged technical issuesContinue reading “News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-21st July 2021”by Business So Simple21st Jul 2021

The features of the Pradhan Mantri Gram Sadak Yojana (PMGSY)

Ministry of Rural Development Press Release 20 July 2021. Pradhan Mantri Gram Sadak Yojana (PMGSY) was launched as a one-time special intervention to provide rural connectivity, by way of a single all- weather road, to the eligible unconnected habitations of designated population size (500+ in plain areas and 250+ in North-Eastern States, Himalayan States and […]by Business So Simple21st July 2021

Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2016 on 14th July, 2021. The amendment regulations enhance the discipline, transparency, and accountability in corporate insolvency proceedings: A corporate debtor (CD) may have changed its name or registered office address […]by Business So Simple21st July 2021

Government has taken several steps to promote India as a Medical and Health Tourism Destination

Ministry of Tourism Government has taken several steps to promote India as a Medical and Health Tourism Destination: Shri G Kishan Reddy Posted Date:- Jul 20, 2021 Key Highlights: National Medical & Wellness Tourism Board constituted to promote Medical/Wellness Tourism, AYUSH A draft National Strategy and Roadmap for Medical and Wellness Tourism formulated ‘E- Medical […]by Business So Simple20th July 2021

Stand Up India Scheme extended up to the year 2025

Key Highlights: Stand Up India Scheme was launched by the Prime Minister on 05th April, 2016 and extended up to the year 2025. Stand Up India Scheme facilitates loans to Scheduled Caste, Scheduled Tribe and women borrowers.  A total of 1,16,266 loans amounting to Rs. 26204.49 crore extended under the Scheme since inception. Margin Money requirements […]by Business So Simple20th July 2021

BharatNet Project: Tender invited for Public Private Partnership

Ministry of Communications BharatNet Project: Tender invited for Public Private Partnership New tender to cover 3.61 lakh Villages in 16 States PPP for a concession period of 30 years Government to provide Viability Gap Funding of Rs. 19,041 croresPosted Date:- Jul 20, 2021 Bharat Broadband Network Limited (BBNL), on behalf of Department of Telecommunication, (the […]by Business So Simple20th July 2021

CBDT grants further relaxation in electronic filing of Income Tax Forms 15CA/15CB

As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorized dealer for any foreign remittance. In view of the difficulties reported by […]by Business So Simple20th July 2021

Steps taken for revival of infrastructure sector on back of COVID-19 pandemic

The Government is taking various measures to ease out liquidity and steep increase in commodity prices and its impact on infrastructure on the back of COVID-19 pandemic. This was stated by Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in the Rajya Sabha today. The Minister stated that measures […]by Business So Simple20th July 2021

Various measures taken by Ministry of Corporate Affairs (MCA) to fight COVID-19 pandemic (MCA Press release dated 20 July 2021)

The Ministry of Corporate Affairs (MCA) primarily administers the provisions of the Companies Act, 2013 (the Act), the Limited Liability Partnership Act, 2008 and the Insolvency and Bankruptcy Code, 2016. This was stated by Minister of State for the Ministry of Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in […]by Business So Simple20th July 2021

Auction for Sale (Re-issue) of (i) ‘4.26% GS 2023’,(ii) ‘6.10% GS 2031’ and (iii) ‘6.76% GS 2061’

Ministry of Finance Auction for Sale (Re-issue) of (i) ‘4.26% GS 2023’,(ii) ‘6.10% GS 2031’ and (iii) ‘6.76% GS 2061’ Posted Date:- Jul 19, 2021 The Government of India (GoI) has announced the Sale (re-issue) of(i) ‘4.26% Government Security, 2023’ for a notified amount of Rs 3,000 crore (nominal) through price based auction using uniform price method (ii) ‘6.10% GovernmentContinue reading “Auction for Sale (Re-issue) of (i) ‘4.26% GS 2023’,(ii) ‘6.10% GS 2031’ and (iii) ‘6.76% GS 2061’”by Business So Simple20th Jul 2021

GST Compensation dues paid to States

The Government has paid all the GST Compensation dues to the States the financial years 2020-21 and 2021-22. This was stated by Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in the Lok Sabha today. The Minister stated that the GST compensation cess levied under Section 8 ofContinue reading “GST Compensation dues paid to States”by Business So Simple20th Jul 2021

News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-20th July 2021

All newspaper compilation from Economic times, Live mint & Financial express on Entrepreneurship, Taxation, Personal Finance & Succession planning. Refer link: 1. *Dividend earned by NRIs is taxable in India* https://www.livemint.com/money/personal-finance/dividend-earned-by-nris-is-taxable-in-india-11626725227621.html 2. * Your Queries (Income Tax): Report mutual fund dividends as ‘income from other sources’ in ITR* https://www.financialexpress.com/money/income-tax/your-queries-income-tax-report-mutual-fund-dividends-as-income-from-other-sources-in-itr/2293614/ 3. *Income tax returns rise 8% inContinue reading “News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-20th July 2021”by Business So Simple20th Jul 2021

Bad Bank launched for stressed assets as a measure to clean up bank books

Ministry of Finance Bad Bank launched for stressed assets as a measure to clean up bank books Posted Date:- Jul 19, 2021 The Government has launched a Bad Bank with all the regulatory approvals in place. This was stated by Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to aContinue reading “Bad Bank launched for stressed assets as a measure to clean up bank books”by Business So Simple20th Jul 2021

India emerges as 5th largest forex reserves holder in the world with $608.99 billion as on June 25, 2021

Ministry of Finance India emerges as 5th largest forex reserves holder in the world with $608.99 billion as on June 25, 2021 Posted Date:- Jul 19, 2021 With India’s forex reserves at $608.99 billion as on June 25, 2021 stood, India has emerged as the fifth largest foreign exchange reserves holder in the world afterContinue reading “India emerges as 5th largest forex reserves holder in the world with $608.99 billion as on June 25, 2021”by Business So Simple20th Jul 2021

Nearly 72% of financial transactions of PSBs done through digital channels, Share of financial transactions undertaken through home and mobile channels increased from 29% in FY2018-19 to 76% in FY2020-21

The Government has taken a number of steps to facilitate digital banking, doorstep banking services and digital lending platforms. This was stated by Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in the Lok Sabha today. Giving more details, the Minister stated that these services include, inter-alia,Continue reading “Nearly 72% of financial transactions of PSBs done through digital channels, Share of financial transactions undertaken through home and mobile channels increased from 29% in FY2018-19 to 76% in FY2020-21”by Business So Simple20th Jul 2021

Financial assistance for developing COVID-19 vaccine

Ministry of Finance Financial assistance for developing COVID-19 vaccine Posted Date:- Jul 19, 2021 The Government has provided financial support to public research institutes and industry for COVID-19 Vaccine Development by the way of the Department of Biotechnology (DBT), Ministry of Science & Technology, through its Public Sector Undertaking, the Biotechnology Industry Research Assistance CouncilContinue reading “Financial assistance for developing COVID-19 vaccine”by Business So Simple20th Jul 2021

Central transfers of funds for development of states

Ministry of Finance Central transfers of funds for development of states Posted Date:- Jul 19, 2021 The Union Government provides funds to the State Governments under the Centrally Sponsored Schemes (CSS), Central Sector Schemes (CS), Finance Commission grants (FC grants) and Other Grants /Loans/Transfers as per the guidelines of the respective Scheme within the availabilityContinue reading “Central transfers of funds for development of states”by Business So Simple20th Jul 2021

Tax exemption to ameliorate stress due to COVID-19

The Government has decided to provide income tax exemption to the amount received by a taxpayer for medical treatment from an employer or from any person for treatment of COVID-19 during the financial year 2019-20 and subsequent years. This was stated by Minister of State for Finance Shri Pankaj Chaudhary in a written reply toContinue reading “Tax exemption to ameliorate stress due to COVID-19”by Business So Simple20th Jul 2021

Investment for Procurement of Indigenously Manufactured Defence Equipment

A In line with Government of India’s initiative of ‘Atmanirbhar Bharat’, it has been decided to earmark an amount of Rs 71,438.36 crore for domestic capital procurement out of the total allocation of Rs 1,11,463.21 crore for  Capital Acquisition. Capital procurement of defence equipment are undertaken from various domestic as well as foreign vendors, based […]by Business So Simple19th July 2021

Government is Encouraging Setting up of Ethanol Plants

Ministry of Petroleum & Natural Gas posted Date:- Jul 19, 2021 The entrepreneurs/project proponents are free to set up ethanol plants in any part of the country without seeking any formal approval from the Government of India. However, various statutory clearances from States/ Ministry of Environment Forest and Climate Change (MoEF&CC)/State Pollution Control Boards (SPCBs), […]by Business So Simple19th July 2021

Disbursal of Loans to Msmes Under ECLGS

Ministry of Micro,Small & Medium Enterprises posted Date:- Jul 19, 2021 Emergency Credit Line Guarantee Scheme (ECLGS) is under the operational domain of Ministry of Finance, Department of Financial Services (DFS). As informed by DFS, as on 2.07.2021, guarantees have been issued for loan granted to around 1.09 crore Micro, Small and Medium Enterprises (MSMEs). […]by Business So Simple19th July 2021

Loans to MSMES Industries under CGS

Ministry of Micro,Small & Medium Enterprises posted Date:- Jul 19, 2021 All new and existing Micro and Small Enterprises engaged in manufacturing or services including trading activity are eligible to be covered under Credit Guarantee Scheme (CGS) implemented by Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). No eligible proposal is denied. Upto […]by Business So Simple19th July 2021

Setting UP New Units of MSMES

Ministry of Micro,Small & Medium Enterprises Setting UP New Units of MSMES Posted Date:- Jul 19, 2021 The Government of India simplified the process of registration of MSMEs by replacing the UdyogAadhaar Memorandum (UAM) with Udyam Registration (UR) on1st July 2020. UR is free of cost, transparent, online, hassle free and is based on self-declaration. It does not require […]by Business So Simple19th July 2021

Encouragement to MSMES

The Ministry of MSME implements various schemes and programmes for growth and development of MSME Sector in the country. These schemes and programmes include Prime Minister’s Employment Generation programme (PMEGP), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE), Interest Subvention Scheme for Incremental Credit […]by Business So Simple19th July 2021

Expansion and Increase in Capacity of MSMEs

The Government of India has announced Fund of Funds with the nomenclature Self Reliant India (SRI) Fund to infuse  Rs. 50,000 crore as equity funding in those MSMEs which have the potential and viability to grow and become large units. Under this scheme total size of fund of Rs. 50,000 Crore has a provision of Rs.10,000 Crore from […]by Business So Simple19th July 2021

News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-19th July 2021

All newspaper compilation from Economic times, Live mint & Financial express on Entrepreneurship, Taxation, Personal Finance & Succession planning. Refer link: 1.*PF balance is tax-exempt upon continuous service for five years* https://www.livemint.com/money/personal-finance/pf-balance-is-tax-exempt-upon-continuous-service-for-five-years-11626636822304.html 2. *Realty hot spot series: Average price of 3 BHK in this Mumbai suburb is Rs 67 lakh* https://economictimes.indiatimes.com/wealth/real-estate/realty-hot-spot-series-average-price-of-3-bhk-in-this-mumbai-suburb-is-rs-67-lakh/articleshow/84497732.cms 3. *How to decideContinue reading “News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-19th July 2021”by Business So Simple19th Jul 2021

Finance Minister Smt. Nirmala Sitharaman addresses US India Business Council (USIBC) Roundtable on ‘Maximizing India’s Sustainable and Inclusive Growth as a Global Destination for U.S. Investment’

Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman today participated in the Roundtable organized by US India Business Council (USBIC) on “Maximizing India’s Sustainable and Inclusive Growth as Global Destination for U.S. Investment’ through video conferencing which witnessed participation of prominent foreign investors like General Electric, Baxter Healthcare USA, Brambles, Marsh & McLennan Companies, PepsiCoContinue reading “Finance Minister Smt. Nirmala Sitharaman addresses US India Business Council (USIBC) Roundtable on ‘Maximizing India’s Sustainable and Inclusive Growth as a Global Destination for U.S. Investment’”by Business So Simple16th Jul 2021

CBIC proactively put in place a COVID Response Plan (CRP) for speedy clearances of COVID-19 vaccines at all major airports

Recognizing that efficient and expeditious release of temperature-sensitive vaccines would be a critical requirement in the collective fight against the COVID-19 pandemic, CBIC has proactively put in place a COVID Response Plan (CRP) ( Annexed herewith) for speedy clearances of COVID-19 vaccines at all major airports. CRP provides for setting up of wherein a COVID-19 Vaccine Response TeamContinue reading “CBIC proactively put in place a COVID Response Plan (CRP) for speedy clearances of COVID-19 vaccines at all major airports”by Business So Simple16th Jul 2021

Preparation & filing of Foreign Liabilities and Assets (FLA) return under FEMA

Dear Sir, Please find below YouTube video link on Preparation & filing of Foreign Liabilities and Assets (FLA) return under FEMA### Issues in FLA filing Note: For FY 2020-21, due date of FLA return filing extended to 31st July 2021 from 15th July 2021. Regards,Bipul Kumarby Business So Simple16th Jul 2021

India’s engineering goods exports registered a growth of 52.4% during the month of June 2021

Merchandise exports in June 2021 were USD 32.50 Billion, as compared to USD 21.91 Billion in June 2020, exhibiting a positive growth of 48.34 per cent. Indian engineering exports were on their upward journey in June, 2021 following the trend of the last two months. India’s engineering goods exports registered a growth of 52.4% during the monthContinue reading “India’s engineering goods exports registered a growth of 52.4% during the month of June 2021”by Business So Simple16th Jul 2021

Tariff Notification No. 60 /2021-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient to do so, hereby makes the following amendments in the notification of the Government of India in the MinistryContinue reading “Tariff Notification No. 60 /2021-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver”by Business So Simple16th Jul 2021

News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-16th July 2021

All newspaper compilation from Economic times, Live mint & Financial express on Entrepreneurship, Taxation, Personal Finance & Succession planning. Refer link: https://businesssosimple.com/2021/07/16/news-update-entrepreneurship-taxation-personal-finance-succession-planning-16th-july-2021/

Initiatives undertaken by Ministry of Textiles for giving a boost to the textiles sector.

Union Minister of Textiles, Commerce & Industry, Consumer Affairs & Food & Public Distribution, Shri Piyush Goyal held  an in depth review of initiatives undertaken by Ministry of Textiles for giving a boost to the textiles sector here today. Minister of State for Textiles, Smt.Darshna Jardosh was also present. Shri U.P. Singh, Secretary Textiles, Shri V. K. Singh, AdditionalContinue reading “Initiatives undertaken by Ministry of Textiles for giving a boost to the textiles sector.”by Business So Simple16th Jul 2021

Arbitration Council of India and New Delhi International Arbitration Centre needs to be set up to achieve PM’s vision to develop India as an international arbitration hub : says Law Minister Shri Kiren Rijiju

Ministry of Law & Justice Press release dated 15 July 2021 Shri Kiren Rijiju, Minister for Law & Justice, along with Prof. S P Singh Baghel, Minister of State for Law & Justice  took a meeting with the officers of the Department of Legal Affairs and Legislative Department on 15th July, 2021 at Shastri Bhawan.Continue reading “Arbitration Council of India and New Delhi International Arbitration Centre needs to be set up to achieve PM’s vision to develop India as an international arbitration hub : says Law Minister Shri Kiren Rijiju”by Business So Simple15th Jul 2021

₹ 75,000 crore released to States and UTs with Legislature as GST Compensation shortfall.Almost 50 % of the total shortfall for the entire year released in a single instalment

Ministry of Finance has released today ₹75,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation.  This release is in addition to normal GST compensation being released every 2 months out of actual cess collection. Subsequent to the 43rd GST Council Meeting held on 28.05.2021, it was decidedContinue reading “₹ 75,000 crore released to States and UTs with Legislature as GST Compensation shortfall.Almost 50 % of the total shortfall for the entire year released in a single instalment”by Business So Simple15th Jul 2021

Import clearance time for edible oil comes down significantly to approx. 3-4 days ; there is no clogging of consignments at the ports

The Indian Customs is continuously monitoring the import clearances of edible oils in co-ordination with Food Safety and Standards Authority of India (FSSAI). It is seen that the import clearance time for edible oil has come down significantly to approx. 3-4 days at present which is the usual time taken for sampling, duty payment and logistics.Continue reading “Import clearance time for edible oil comes down significantly to approx. 3-4 days ; there is no clogging of consignments at the ports”by Business So Simple15th Jul 2021

Constitution of an Expert Committee on Longevity Finance

International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs) in India. Global estimates suggest that there are one billion people in the silver generation (a global cohort of individuals aged 60 and older)Continue reading “Constitution of an Expert Committee on Longevity Finance”by Business So Simple15th Jul 2021

Clarification regarding Stock limits imposed on Pulses and wrong information floating in certain media sections/social media

There is a WhatsApp message being circulated that stock limits on pulses have been removed. In this regard it is clarified that Stock limits imposed on Pulses vide Order dated 2.7.21 have not been removed and are being enforced. Government is closely monitoring the implementation of these Orders by the States. Central Government has alsoContinue reading “Clarification regarding Stock limits imposed on Pulses and wrong information floating in certain media sections/social media”by Business So Simple15th Jul 2021

CCI receives notice relating to acquisition of equity stake in JSW Cement by Synergy Metals Investments Holding Limited, under Green Channel and is deemed approved

The Competition Commission of India (“CCI”) received a notice relating to acquisition of equity stake in JSW Cement (“Target”) by Synergy Metals Investments Holding Limited (“Acquirer”), under Green Channel and is deemed approved. The Acquirer is the investment fund of its ultimate controlling entity, Synergy Metals and Mining Fund I LP (“Synergy Fund”). Synergy FundContinue reading “CCI receives notice relating to acquisition of equity stake in JSW Cement by Synergy Metals Investments Holding Limited, under Green Channel and is deemed approved”by Business So Simple15th Jul 2021

PM inaugurates and lays foundation stone of various development projects in Varanasi

PM inaugurates and lays foundation stone of various development projects in Varanasi Lauds Kashi and Uttar Pradesh for their efforts in fight against the pandemic Kashi is becoming a big medical hub of Purvanchal: PM Cleanliness and beauty of Maa Ganga and Kashi is an aspiration and priority: PM Work is on for schemes worth […]by Business So Simple15th July 2021

News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-15th July 2021

All newspaper compilation from Economic times, Live mint & Financial express on Entrepreneurship, Taxation, Personal Finance & Succession planning. Refer link:

News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-15th July 2021

केन्द्रीय मंत्रिमंडलने केन्द्रीय सूची में अन्य पिछड़ा वर्ग के भीतर उप-वर्गीकरण से जुड़ेमुद्दोंपर गौर करने के लिए संविधान के अनुच्छेद 340 के तहत गठित आयोग के कार्यकाल में विस्तार को मंजूरी दी

माननीय प्रधानमंत्री श्री नरेन्द्र मोदी की अध्यक्षता में केन्द्रीय मंत्रिमंडल ने आज केन्द्रीय सूची में अन्य पिछड़ा वर्ग (ओबीसी) के भीतर उप-वर्गीकरण से जुड़ेमुद्दों पर गौर करने के लिए संविधान के अनुच्छेद 340 के तहत गठित आयोग के कार्यकाल में 31 जुलाई 2021 से आगे 6 महीने के लिए और 31 जनवरी 2022 तक प्रभावीContinue reading “केन्द्रीय मंत्रिमंडलने केन्द्रीय सूची में अन्य पिछड़ा वर्ग के भीतर उप-वर्गीकरण से जुड़ेमुद्दोंपर गौर करने के लिए संविधान के अनुच्छेद 340 के तहत गठित आयोग के कार्यकाल में विस्तार को मंजूरी दी”by Business So Simple15th Jul 2021

Cabinet approves Revising and Realigning various components of Department of AnimalHusbandry & Dairying Schemes and Special livestock package for leveraging investment of Rs.54,618 crore

The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi has approved implementation of special livestock sector package consisting of several activities by revising and realigning various components of Government of India’s schemes for next 5 years starting from 2021-22 in order to further boost growth in livestock sector and therebyContinue reading “Cabinet approves Revising and Realigning various components of Department of AnimalHusbandry & Dairying Schemes and Special livestock package for leveraging investment of Rs.54,618 crore”by Business So Simple15th Jul 2021

Government approves continuation of Rebate of State and Central taxes and Levies (RoSCTL) on Export of Apparel/ Garments and Made-ups

Government approves continuation of Rebate of State and Central taxes and Levies (RoSCTL) on Export of Apparel/ Garments and Made-ups RoSCTL extended till 31st March 2024 at existing rates Ensures a stable and predictable policy regime Fillip for exports of globally competitive Indian textiles Promote exports by start-ups and entrepreneurs Creation of lakhs of jobsContinue reading “Government approves continuation of Rebate of State and Central taxes and Levies (RoSCTL) on Export of Apparel/ Garments and Made-ups”by Business So Simple15th Jul 2021

Government caps Trade Margin up to 70% on Price to Distributor level on five medical devices

Keeping in view the evolving COVID pandemic, and the continuing demand of the medical devices, the Government has decided to regulate their prices for affordable healthcare and COVID management.By invokingextraordinary powers under Para 19 of the DPCO, 2013 in larger public interest National Pharmaceutical Pricing Agency (NPPA) has vide its notification dated 13.07.2021, capped theContinue reading “Government caps Trade Margin up to 70% on Price to Distributor level on five medical devices”by Business So Simple15th Jul 2021

Closure/shutting down of Company(कंपनी बंद कैसे करें ?)

Dear Friends, Please find below YouTube video link on Closure/shutting down of Company(कंपनी बंद कैसे करें ?)(Sale/transfer of Company, Striking off Company, Winding up of company, Getting Dormant status) Regards,Bipul Kumarby Business So Simple14th Jul 2021

CGST Zones and Directorate General of GST Intelligence booked about 8000 cases involving fake ITC of over Rs. 35000 crore in FY 2020-21

Ministry of Finance Press release dated 13th July 2021 Misuse of the beneficial provision of Input Tax Credit (ITC) under GST regime is the most common modus of evasion under the GST Law. The field formations of the Central Board of Indirect taxes and Customs (CBIC) have beenregularly detecting such cases from very beginning ofContinue reading “CGST Zones and Directorate General of GST Intelligence booked about 8000 cases involving fake ITC of over Rs. 35000 crore in FY 2020-21”by Business So Simple14th Jul 2021

How to prepare Pitch Presentation for Startup Financing

Dear Friends, Please find below YouTube video link on Pitch Presentation (Story behind Facebook, flipkart, case study) (Startup Financing-Part 3) https://youtu.be/gLICZ-g-5-E Regards,Bipul Kumarby Business So Simple14th Jul 2021

News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-14th July 2021

All newspaper compilation from Economic times, Live mint & Financial express on Entrepreneurship, Taxation, Personal Finance & Succession planning. Refer link:

1. *Income Tax Return filing: 5 benefits of filing ITR even if your income is not taxable* https://www.financialexpress.com/money/income-tax/income-tax-return-filing-5-benefits-of-filing-itr-even-if-your-income-is-not-taxable/2289106 2. *Delhi Development Authority approves Affordable Rental Housing Complexes scheme* https://economictimes.indiatimes.com/wealth/real-estate/delhi-development-authority-approves-affordable-rental-housing-complexes-scheme/articleshow/84397886.cms 3. *Over 100 realty projects have no valid registration: UP-RERA* https://economictimes.indiatimes.com/wealth/real-estate/over-100-realty-projects-have-no-valid-registration-up-rera/articleshow/84370983.cms 4. *Housing sales in Delhi-NCR went up by 50% in April-June YoY: Report* https://economictimes.indiatimes.com/wealth/real-estate/housing-sales-in-delhi-ncr-went-up-by-50-in-april-june-yoy-report/articleshow/84373630.cms 5. *ICICIContinue reading “News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-14th July 2021”by Business So Simple14th Jul 2021

Income Tax Department conducts surveys in Bengaluru

Income Tax Department carried out a survey operation on 08.07.2021 on two business premises in Bengaluru on one of India’s leading manpower services provider. The assessee has been claiming huge deduction u/s 80JJAA of Income-tax Act, 1961 which incentivises new employment generation, subject to fulfilment of certain conditions such as emoluments paid to the employeeContinue reading “Income Tax Department conducts surveys in Bengaluru”by Business So Simple13th Jul 2021

CGST officials bust network of 23 firms for claiming input tax credit of Rs 91 crore

Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST) Commissionerate, Delhi (West) have unearthed a case of availment/utilization and passing on of inadmissible input tax credit (ITC) through goods less invoices of Rs 91 crore (approx). The modus operandi involved floating of multiple firms with theContinue reading “CGST officials bust network of 23 firms for claiming input tax credit of Rs 91 crore”by Business So Simple13th Jul 2021

News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-13th July 2021

All newspaper compilation from Economic times, Live mint & Financial express on Entrepreneurship, Taxation, Personal Finance & Succession planning. Refer link: 1. *Realty hot spot series: This area in East Delhi is a preferred residential locality* https://economictimes.indiatimes.com/wealth/plan/money-relationship-what-financial-freedom-is-right-for-your-teen-here-are-5-rules-to-follow/articleshow/84288529.cms 2. *Given approval to set up small finance bank to take over PMC Bank: RBI to HC* https://economictimes.indiatimes.com/wealth/personal-finance-news/given-approval-to-set-up-small-finance-bank-to-take-over-pmc-bank-rbi-to-hc/articleshow/84343746.cmsContinue reading “News update-Entrepreneurship, Taxation, Personal Finance & Succession planning-13th July 2021”by Business So Simple13th Jul 2021

APEDA inks MoU with NAFED for strengthening export linkage of Farmer Cooperatives & FPOs

For harnessing exports potential of agricultural and processed food products of cooperatives as well Farmer Producer Organizations (FPOs), the Agricultural and Processed Food Products Export Development Authority (APEDA) today signed Memorandum of Understanding (MoU) with National Agricultural Cooperative Marketing Federation of India Ltd (NAFED). According to the MoU, the key areas of cooperation include facilitatingContinue reading “APEDA inks MoU with NAFED for strengthening export linkage of Farmer Cooperatives & FPOs”by Business So Simple13th Jul 2021

Indian stem cell & developmental biologist part of WHO advisory committee on human genome editing

Posted Date:- Jul 12, 2021 Indian stem cell and developmental biologist Prof. Maneesha S Inamdar has been part of the WHO Expert Advisory Committee on Developing Global Standards for Governance and Oversight of Human Genome Editing, which released two new companion reports providing the first global recommendations to help ensure that human genome editing isContinue reading “Indian stem cell & developmental biologist part of WHO advisory committee on human genome editing”by Business So Simple13th Jul 2021

India Aims to Target over 100 Billion “Blue Economy” Through Deep Ocean Mission and Ocean Resources

Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh today said that in the years to come, India aims to target over 100 billion “Blue Economy” through its Deep Ocean Mission (DOM) and ocean resources.Continue reading “India Aims to Target over 100 Billion “Blue Economy” Through Deep Ocean Mission and Ocean Resources”by Business So Simple13th Jul 2021

Newly built Center of Excellence for Research & Analysis of Narcotics and Psychotropic Substances of the National Forensic Science University in Ahmedabad

The Union Home Minister Shri Amit Shah inaugurated the newly built Center of Excellence for Research & Analysis of Narcotics and Psychotropic Substances of the National Forensic Science University in Ahmedabad Inauguration of virtual training on Investigation of Crimes Against Women Keeping in view excellence and reputation of National Forensic Science University worldwide, it wasContinue reading “Newly built Center of Excellence for Research & Analysis of Narcotics and Psychotropic Substances of the National Forensic Science University in Ahmedabad”by Business So Simple13th Jul 2021

Framework for Setting up and operating International Trade Finance Services platform (‘ITFS’) for providing Trade Finance Services at International Financial Services Centres (‘IFSCs’)

The International Financial Services Centres Authority (IFSCA) has been set up vide IFSCA Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs). Towards this end, IFSCA has issued a framework for Setting up and operating International Trade Finance Services Platform (‘ITFS’) for providingContinue reading “Framework for Setting up and operating International Trade Finance Services platform (‘ITFS’) for providing Trade Finance Services at International Financial Services Centres (‘IFSCs’)”by Business So Simple12th Jul 2021

Auction for Sale (Re-Issue) of (i) ‘5.63% GS 2026’, (ii) ‘GoI Floating Rate Bond 2033’, (iii) ‘6.64% GS 2035’, and (iv) ‘6.67% GS 2050

Government of India (GoI) has announced the Sale (Re-issue) of (i) ‘5.63% Government Security, 2026’ for a notified amount of Rs 11,000 crore (nominal) through price based auction using uniform price method (ii) ‘GoI Floating Rate Bonds, 2033’ for a notified amount of Rs 4,000 crore (nominal) through price based auction, using uniform price  method (iii) ‘6.64% Government Security, 2035’ for a notified amount of Rs10,000 crore (nominal) through price based auction, using uniformContinue reading “Auction for Sale (Re-Issue) of (i) ‘5.63% GS 2026’, (ii) ‘GoI Floating Rate Bond 2033’, (iii) ‘6.64% GS 2035’, and (iv) ‘6.67% GS 2050”by Business So Simple12th Jul 2021

9 Innovative ways to Finance a Startup

Dear Friends, Please find below YouTube video link on 9 Innovative ways to Finance a Startup (Startup Financing-Part 2) https://youtu.be/qnUknq7TGsw Regards,Bipul Kumar Related video : Startup Financing-Part 1 https://youtu.be/Go_BhdtaXv8 2. Tax benefits for Startuphttps://youtu.be/1DDJ1_LlhfA 3. Virtual CFO suitable for Startup businesshttps://youtu.be/UGuqgP29X98 4. Fund raising options for Private Limited Companyhttps://youtu.be/YcpfF_WXB2wby Business So Simple12th Jul 2021

Rare superluminous supernova shining with borrowed energy source spotted

Ministry of Science & Technology dated Jul 10, 2021 An extremely bright, hydrogen deficient, fast-evolving supernova that shines with the energy borrowed from an exotic type of neutron star with an ultra-powerful magnetic field has been spotted by Indian researchers. Deep study of such ancient spatial objects can help probe the mysteries of the early universe. SuchContinue reading “Rare superluminous supernova shining with borrowed energy source spotted”by Business So Simple12th Jul 2021

News update-Entrepreneurship, Taxation, Personal Finance & Succession planning – 12th July 2021

All newspaper compilation from Economic times, Live mint & Financial express on Entrepreneurship, Taxation, Personal Finance & Succession planning……….. https://businesssosimple.com/2021/07/12/news-update-entrepreneurship-taxation-personal-finance-succession-planning-12th-july-2021/

21st Session of India-Italy Joint Commission for Economic Cooperation

21st Session of India-Italy Joint Commission for Economic Cooperation (JCEC) was held on 09th July 2021 virtually. Mr. Piyush Goyal, Commerce & Industry Minister and Mr. Luigi Di Maio, Minister of Foreign Affairs and International Cooperation of Italy co-chaired the Session. Both sides held extensive discussions on bilateral trade and Investment and economic cooperation in the areasContinue reading “21st Session of India-Italy Joint Commission for Economic Cooperation”by Business So Simple12th Jul 2021

KVIC Secures Trademark Registrations in Bhutan, UAE & Mexico; Files Applications in 40 Countries to Protect Brand “Khadi”

Khadi and Village Industries Commission (KVIC) has recently secured trademark registrations in three countries – Bhutan, UAE and Mexico – a big stride towards protecting the identity of brand “Khadi” globally. Apart from these countries, KVIC’s trademark applications are pending in 40 countries across the world that include the USA, Qatar, Sri Lanka, Japan, Italy,Continue reading “KVIC Secures Trademark Registrations in Bhutan, UAE & Mexico; Files Applications in 40 Countries to Protect Brand “Khadi””by Business So Simple12th Jul 2021

Terrace gardening is a wonderful idea as it can provide us with nutritious food that is cost-effective (Terrace Garden: Midde Thota)

Terrace gardening can provide us with cost-effective and nutritious foods: Vice President Gardening brings one close to nature, says Shri Naidu Vice President presented with the book titled ‘Terrace Garden: Midde Thota’ The Vice President, Shri M Venkaiah Naidu today received the first copy of the English translation of Shri Thummeti Raghothama Reddy’s book- ‘TerraceContinue reading “Terrace gardening is a wonderful idea as it can provide us with nutritious food that is cost-effective (Terrace Garden: Midde Thota)”by Business So Simple12th Jul 2021

Shri Nitin Gadkari inaugurates country’s First Private LNG Facility plant at Nagpur, emphasizes on importance of alternate biofuels for diversification of agriculture towards energy and power sector

Minister for Road Transport and Highways Shri Nitin Gadkari has emphasized on importance of alternate biofuels for diversification of agriculture towards energy and power sector . Inaugurating the country’s first Private LNG Facility plant at Nagpur today he said  in our economy we are spending 8 lakh crores for the import of petrol diesel andContinue reading “Shri Nitin Gadkari inaugurates country’s First Private LNG Facility plant at Nagpur, emphasizes on importance of alternate biofuels for diversification of agriculture towards energy and power sector”by Business So Simple12th Jul 2021

Providing better prices and timely, affordable credit to farmers are crucial to sustain agriculture in the country: Vice President

Providing better prices and timely, affordable credit to farmers are crucial to sustain agriculture in the country: Vice President ‘Cost-cutting must go hand in hand with increased production’ VP expresses concern over growing urban-rural divide; calls for a renewed national effort to achieve ‘gram swarajya’ Develop climate and drought-resistant varieties; build strong lab-farm links: ShriContinue reading “Providing better prices and timely, affordable credit to farmers are crucial to sustain agriculture in the country: Vice President”by Business So Simple12th Jul 2021

Union Home Minister Shri Amit Shah inaugurated and laid foundation stone of various development projects

Union Home Minister Shri Amit Shah inaugurated and laid foundation stone of various development projects worth Rs. 448 crore in his LokSabha constituency Gandhinagar Inauguration of Civic Centre, newly constructed reading room at Bopal, Ahmedabad along with inauguration of AUDA’sRs. 374 crore Ahmedabad Municipal Corporation and various projects of Western Railways worthRs. 29 crore CommunityContinue reading “Union Home Minister Shri Amit Shah inaugurated and laid foundation stone of various development projects”by Business So Simple12th Jul 2021

Welcome Multidisciplinary Firms in India

Refer Link : https://aishmghrana.me/2021/07/10/welcome-multidisciplinary-firms/ Aishwarya Gahrana Mohan (Corporate Governance Professional)by Business So Simple10th Jul 2021

National hackathon organized by IIT Madras & Sony India encourages citizens to come up with solutions using IoT Sensor Board

Citizens across the country can now participate in solving India-specific problems of societal interest using IoT Sensor Board through a National hackathon called ‘SAMVEDAN 2021 – Sensing Solutions for Bharat’. Registrations for this Grand Challenge Competition have commenced on July 1st, 2021, and are open to all Indian nationals residing in India. It is beingContinue reading “National hackathon organized by IIT Madras & Sony India encourages citizens to come up with solutions using IoT Sensor Board”by Business So Simple10th Jul 2021

Rare superluminous supernova shining with borrowed energy source spotted

An extremely bright, hydrogen deficient, fast-evolving supernova that shines with the energy borrowed from an exotic type of neutron star with an ultra-powerful magnetic field has been spotted by Indian researchers. Deep study of such ancient spatial objects can help probe the mysteries of the early universe. Such type of supernovae called SuperLuminous Supernova (SLSNe) is very rare. ThisContinue reading “Rare superluminous supernova shining with borrowed energy source spotted”by Business So Simple10th Jul 2021

Income Tax Department conducts searches in Hyderabad

Ministry of Finance Press release dated Jul 09, 2021 Income Tax Department carried out a search and seizure operation on 06.07.2021 on a group based in Hyderabad. The group is engaged in real estate, construction, waste management and infrastructure. The activities of waste management are spread across India while real estate activities are mainly concentratedContinue reading “Income Tax Department conducts searches in Hyderabad”by Business So Simple9th Jul 2021

Sovereign Gold Bond Scheme 2021-22–Series-IV- Issue price (Opened for the period July 12-16, 2021)

Ministry of Finance Press release dated 09th July 2021 In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated May 12, 2021, Sovereign Gold Bonds 2021-22 (Series IV) will be opened for the period July 12-16, 2021 with Settlement date July 20, 2021. The issue price of the Bond during the subscription period shall be RsContinue reading “Sovereign Gold Bond Scheme 2021-22–Series-IV- Issue price (Opened for the period July 12-16, 2021)”by Business So Simple9th Jul 2021

Extension of last date for submission of public comments to 30th July, 2021 for Consultation Paper on Enhancing Engagement with Stakeholders

The National Financial Reporting Authority (NFRA) has extended the last date for submission of comments on its Consultation Paper titled “Enhancing Engagement with Stakeholders: Report of Technical Advisory Committee (March 2021)” from 10th July, 2021 to 30th July 2021. Consultation paper may be viewed at https://nfra.gov.in/consultation_papers. The comments may either be submitted by email at comments-tac.paper @nfra.gov.in or sent by postContinue reading “Extension of last date for submission of public comments to 30th July, 2021 for Consultation Paper on Enhancing Engagement with Stakeholders”by Business So Simple9th Jul 2021

Virtual CFO(vCFO) II CFOs on Rise Post Covid II CA/CS/CFA/MBA most preferable vCFO II

Virtual CFO (or vCFO for short) stands for virtual Chief Financial Officer. A virtual CFO is an outsourced service provider offering high skill assistance in financial requirements of an organization, just like a chief financial officer does for large organizations.A virtual CFO may be a single person or an entity. You may refer, YouTube video link on VirtualContinue reading “Virtual CFO(vCFO) II CFOs on Rise Post Covid II CA/CS/CFA/MBA most preferable vCFO II”by Business So Simple9th Jul 2021

GIS Enabled Land Bank gaining popularity

GIS Enabled Land Bank gaining popularity; Website has seen a 30% increase in page views each month since April 2021Posted Date:- Jul 09, 2021 The India Industrial Land Bank (IILB) is a GIS-based portal – a one-stop repository of all industrial infrastructure-related information – connectivity, infra, natural resources & terrain, plot-level information on vacant plots,Continue reading “GIS Enabled Land Bank gaining popularity”by Business So Simple9th Jul 2021

News update-Income Tax, Financial awareness & Legal awareness – 9th July 2021 (ET, Livemint , Financial express)

1.*Income Tax department issues refunds worth Rs 37,050 crore till July 5* https://economictimes.indiatimes.com/wealth/personal-finance-news/income-tax-department-issues-refunds-worth-rs-37050-crore-till-july-5/articleshow/84232274.cms 2. *Equity mutual funds see inflows of Rs 6,000 crore in June* https://economictimes.indiatimes.com/wealth/personal-finance-news/equity-mutual-funds-see-inflows-of-rs-6000-crore-in-june/articleshow/84231387.cms 3. *‘Mid-cap segment is highly fertile for alpha generation’* https://www.livemint.com/money/personal-finance/midcap-segment-is-highly-fertile-for-alpha-generation-11625774721057.html 4. *Women availed bigger home loans in FY21: report* https://www.livemint.com/money/personal-finance/women-availed-bigger-home-loans-in-fy21-report-11625774015319.html 5. *Insurers return documents after processing claims upon request*Continue reading “News update-Income Tax, Financial awareness & Legal awareness – 9th July 2021 (ET, Livemint , Financial express)”by Business So Simple9th Jul 2021

Cabinet approves modifications in Central Sector Scheme of financing facility under ‘Agriculture Infrastructure Fund’

The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi today gave its approval to the following modifications in Central Sector Scheme of Financing Facility under ‘Agriculture Infrastructure Fund’: Eligibility has now been extended to State Agencies/APMCs, National & State Federations of Cooperatives, Federations of Farmers Producers Organizations (FPOs) and Federations of Self HelpContinue reading “Cabinet approves modifications in Central Sector Scheme of financing facility under ‘Agriculture Infrastructure Fund’”by Business So Simple9th Jul 2021

Applicable FEMA provisions on Establishment of Branch office/Liaison office/Project office in India by Foreign entities (Part 1)

Dear Friends, Please find below YouTube video link on Applicable FEMA provisions on Establishment of Branch office/Liaison office/Project office in India by Foreign entities Regards,Bipul Kumarby Business So Simple7th Jul 2021

Launch of online filing of application for Authorised Economic Operators (AEO T2 and AEO T3)

Ministry of Finance Press release dated 07th July 2021 Central Board of Indirect Taxes & Customs (CBIC) Chairman Shri M. Ajit Kumar here today inaugurated the online filing of Authorised Economic Operators (AEO) T2 and T3 applications. The AEO web application is accessible at URL www.aeoindia.gov.in. The new version (V 2.0) of the web application is designed to ensureContinue reading “Launch of online filing of application for Authorised Economic Operators (AEO T2 and AEO T3)”by Business So Simple7th Jul 2021

Agro Tec start-ups : Office of PSA’s KisanMitr & KVKs partner to make agritech accessible for farmers through vernacular sessions

The 28th edition of the series of agricultural presentations had a guest. Balraj, a farmer from Punjab spoke about the impact that deploying a sensor to detect moisture in the atmosphere has made in their irrigation practices. His village doesn’t have electricity and they use diesel-run pumps. Deploying this sensor saved both diesel, and water (whichContinue reading “Agro Tec start-ups : Office of PSA’s KisanMitr & KVKs partner to make agritech accessible for farmers through vernacular sessions”by Business So Simple7th Jul 2021

News update-Income Tax, Financal awareness & Legal awareness-08 July 2021 (ET, Livemint, Financial express)

*Invest* 1.*Thinking of entering the cryptocurrency market? Here’s an investment, trading guide for you* https://economictimes.indiatimes.com/wealth/invest/thinking-of-entering-the-cryptocurrency-market-heres-an-investment-trading-guide-for-you/videoshow/84204679.cms *Borrow* 1. *Before getting that education loan, make sure you know these fine points* https://economictimes.indiatimes.com/wealth/borrow/before-getting-that-education-loan-make-sure-you-know-these-fine-points/slideshow/84199660.cms *Legal/will* 1. *You have very limited choice as to who gets your EPF, EPS, EDLI in case you die* https://economictimes.indiatimes.com/wealth/legal/will/you-have-very-limited-choice-as-to-who-gets-your-epf-eps-edli-in-case-you-die/articleshow/83946864.cms *Real Estate* 1. *Unsold inventoryContinue reading “News update-Income Tax, Financal awareness & Legal awareness-08 July 2021 (ET, Livemint, Financial express)”by Business So Simple8th Jul 2021

News update-Income Tax, Financal awareness & Legal awareness-07 July 2021 (ET, Livemint, Financial express)

Income Tax 1. *I am 58 years old and want to invest in NPS Tier 1 for tax reasons. Can I do so at this age?*   https://economictimes.indiatimes.com/wealth/tax/i-am-58-years-old-and-want-to-invest-in-nps-tier-1-for-tax-reasons-can-i-do-so-at-this-age/articleshow/84169584.cms 2. *How banks, mutual funds and companies will check if you have filed ITR*   https://economictimes.indiatimes.com/wealth/tax/how-banks-mutual-funds-and-companies-will-check-if-you-have-filed-itr/articleshow/84057122.cms 3. *Shouldn’t income tax be payable only on income?* https://www.livemint.com/money/personal-finance/shouldnt-income-tax-be-payable-only-on-income-11625603387622.html LegalContinue reading “News update-Income Tax, Financal awareness & Legal awareness-07 July 2021 (ET, Livemint, Financial express)”by Business So Simple7th Jul 2021

Modi Government creates a new Ministry of Co-operation (vision of ‘Sahkar se Samriddhi)

Posted Date:- Jul 06, 2021 In a historic move, a separate ‘Ministry of Co-operation’ has been created by the Modi Government for realizing the vision of ‘Sahkar se Samriddhi’. This ministry will provide a separate administrative, legal and policy framework for strengthening the cooperative movement in the country. It will help deepen Co-operatives as aContinue reading “Modi Government creates a new Ministry of Co-operation (vision of ‘Sahkar se Samriddhi)”by Business So Simple6th Jul 2021

Justice Department commemorates the milestone of crossing 9 lakh beneficiaries under its Tele-Law programme

Justice Department commemorates the milestone of crossing 9 lakh beneficiaries under its Tele-Law programme The event heralds beginning of “Azadi ka Amrit Mahotsav” in Department of Justice Tele Law has potential to foster inclusive character of justice delivery and strengthening rule of law: says Law Minister Shri Ravi Shankar Prasad during event Tele-Law saw aContinue reading “Justice Department commemorates the milestone of crossing 9 lakh beneficiaries under its Tele-Law programme”by Business So Simple6th Jul 2021

Union Minister for Fisheries, Animal Husbandry and Dairying, Shri Giriraj Singh launches the Online Course Mobile App “Matsya Setu” for Fish Farmers

Release Ministry of Fisheries, Animal Husbandry & Dairying Union Minister for Fisheries, Animal Husbandry and Dairying, Shri Giriraj Singh launches the Online Course Mobile App “Matsya Setu” for Fish Farmers Posted Date:- Jul 06, 2021 Union Minister for Fisheries, Animal Husbandry and Dairying, Shri Giriraj Singh, today launched the Online Course Mobile App “Matsya Setu”.Continue reading “Union Minister for Fisheries, Animal Husbandry and Dairying, Shri Giriraj Singh launches the Online Course Mobile App “Matsya Setu” for Fish Farmers”by Business So Simple6th Jul 2021

YouTube Video- Guidelines Under Section 9B & Section 45(4) of the Income Tax Act,1961 Circular No. 14 of 2021 issued on 02 July 2021)-Taxability on transfer of Capital Assets/Stock-in-trade from Firm/AOP/BOI to Partner/Member (Finance Act 2021-Section 9B, Section 45(4) & 48(iii))

Dear Sir, Please find below YouTube Video Link on Guidelines Under Section 9B & Section 45(4) of the Income Tax Act,1961 Circular No. 14 of 2021 issued on 02 July 2021)-Taxability on transfer of Capital Assets/Stock-in-trade from Firm/AOP/BOI to Partner/Member (Finance Act 2021-Section 9B, Section 45(4) & 48(iii)) https://www.youtube.com/watch?v=2PttGpoQqoc Regards,Bipul Kumarby Business So Simple6th Jul 2021

Wealth from Waste: Spent catalyst from industry can be an efficient catalyst for batteries

Posted Date:- Jul 06, 2021 We are perhaps looking at a future in which industrial waste will form the base for energy storage in batteries. Scientists have shown that the spent catalysts from the energy industry or the raw material for recycling operation that deliver fresh catalysts and valuable metals work as an efficient bifunctionalContinue reading “Wealth from Waste: Spent catalyst from industry can be an efficient catalyst for batteries”by Business So Simple6th Jul 2021

GST Revenue collection for June2021-₹ 92,849 crore gross GST revenue collected in June’ 2021

The gross GST revenue collected in the month of June’ 2021 is₹92,849 crore of which CGST is ₹16,424 crore, SGST is ₹20,397, IGST is ₹49,079 crore (including ₹25,762 crore collected on import of goods) and Cess is ₹6,949 crore (including ₹809 crore collected on import of goods).The above figure includes GST collection from domestic transactions between 5thJune to 5th July’2021 since taxpayers were given various relief measures inContinue reading “GST Revenue collection for June2021-₹ 92,849 crore gross GST revenue collected in June’ 2021”by Business So Simple6th Jul 2021

Ministry of Finance issued Press Release on 05th July 2021 giving relaxation in electronic filing of Income Tax Forms 15CA/15CB till 15th July 2021

As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorised dealer for any foreign remittance. In view of the difficulties reported byContinue reading “Ministry of Finance issued Press Release on 05th July 2021 giving relaxation in electronic filing of Income Tax Forms 15CA/15CB till 15th July 2021”by Business So Simple6th Jul 2021

News update-Income Tax, Financal awareness & Legal awareness-06 July 2021 (ET, Livemint, Financial express) https://businesssosimple.com/2021/07/06/news-update-income-tax-financal-awareness-legal-awareness-06-july-2021-et-livemint-financial-express/

Setting up of Advisory Council for Open Network for Digital Commerce (ONDC)

Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has initiated a project on Open Network for Digital Commerce (ONDC). The task has been assigned to Quality Council of India (QCI). ONDC aims at promoting open networks developed on open sourced methodology, using open specifications and open network protocols independentContinue reading “Setting up of Advisory Council for Open Network for Digital Commerce (ONDC)”by Business So Simple5th Jul 2021

Auction for Sale (Re-issue) of (i) ‘4.26% GS 2023’,(ii) ‘New 10 year GS, 2031’ and (iii) ‘6.76% GS 2061’

The Government of India (GoI) has announced the Sale (Issue / re-issue) of(i) ‘4.26% Government Security, 2023’ for a notified amount of Rs 3,000 crore (nominal) through price based auction, (ii) ‘New Government Security, 2031’ for a notified amount of Rs 14,000 crore (nominal) through yield based auction, and (iii) ‘6.76% Government Security 2061’ for a notified amount of Rs 9,000 crore (nominal) through price based auction. GoIContinue reading “Auction for Sale (Re-issue) of (i) ‘4.26% GS 2023’,(ii) ‘New 10 year GS, 2031’ and (iii) ‘6.76% GS 2061’”by Business So Simple5th Jul 2021

Safety audits have been mandated at all stages of road development to reduce accidents

Shri Nitin Gadkari says safety audits have been mandated at all stages of road development to reduce accidents Posted Date:- Jul 05, 2021 Minister for Road Transport&Highways and MSME Shri Nitin Gadkari has said safety audits have been mandated at all stages of road development to reduce accidents. Inaugurating virtual Symposium on Vehicle crash safetyContinue reading “Safety audits have been mandated at all stages of road development to reduce accidents”by Business So Simple5th Jul 2021

Thought of the day-05 July 2021

योगस्थः कुरु कर्माणि Perform your duty equipoised, O Arjuna, abandoning all attachment to success or failure. Such equanimity is called yoga(Yoga means to concentrate the mind upon the Supreme by controlling the ever-disturbing senses).by Business So Simple5th Jul 2021

Ayurveda Dataset on CTRI Portal will be Launched. mark a significant step towards worldwide visibility for Ayurveda based Clinical Trialsmark a significant step towards worldwide visibility for Ayurveda based Clinical Trials. 4 Portals developed by CCRAS will also be launched4 Portals developed by CCRAS will also be launched

Ayurveda Dataset on CTRI Portal will be Launched Tomorrow The launch by Ayush Minister will mark a significant step towards worldwide visibility for Ayurveda based Clinical Trials 4 Portals developed by CCRAS will also be launched Marking a significant step towards worldwide visibility for Ayurveda based clinical trials, the Ayurveda dataset on CTRI Portal willContinue reading “Ayurveda Dataset on CTRI Portal will be Launched. mark a significant step towards worldwide visibility for Ayurveda based Clinical Trialsmark a significant step towards worldwide visibility for Ayurveda based Clinical Trials. 4 Portals developed by CCRAS will also be launched4 Portals developed by CCRAS will also be launched”by Business So Simple5th Jul 2021

Ministry of Women and Child Development invites comments/ suggestions onThe Trafficking in Persons (Prevention, Care and Rehabilitation) Bill, 2021

Ministry of Women and Child Development has invited comments/suggestions from all the stakeholders on the draft ‘Trafficking in Persons (Prevention, Care and Rehabilitation) Bill, 2021’.The objective of the bill is to prevent and counter trafficking in persons, especially women and children, to provide for care, protection, and rehabilitation to the victims, while respecting their rights,Continue reading “Ministry of Women and Child Development invites comments/ suggestions onThe Trafficking in Persons (Prevention, Care and Rehabilitation) Bill, 2021”by Business So Simple5th Jul 2021

स्वामी विवेकानंद जी को उनकी पुण्यतिथि पर विनम्र श्रद्धांजलि-04 July 2021

स्वामी विवेकानंद जी को उनकी पुण्यतिथि पर विनम्र श्रद्धांजलि-04 July 2021 एसोसिएशन ऑफ़ डिवाईन लवबिपुल कुमारby Business So Simple4th Jul 2021

‘eSanjeevani’, Govt. of India’s free Telemedicine service completes 70 Lakh consultations

‘eSanjeevani’, Govt. of India’s free Telemedicine service completes 70 Lakh consultations Prime Minister commended eSanjeevani on 6th Anniversary of Digital India Initiatives Around 1.25 million patients benefitted from the National Telemedicine Service in last 30 days with over 50K daily consultations in last 2 weeks Union Health Ministry’s National Telemedicine Service – eSanjeevani has crossedContinue reading “‘eSanjeevani’, Govt. of India’s free Telemedicine service completes 70 Lakh consultations”by Business So Simple3rd Jul 2021

Maintenance of Books of Accounts & documents under Income Tax Law, GST Laws

Dear Friends, Please find below YouTube video link on : 1. Maintenance of Books of Accounts & documents under Income Tax Law 2. Accounts & records maintained under GST Laws (Updated by FA 2021) https://youtu.be/k4xmiu_9mE0 Regards,Bipul Kumarby Business So Simple3rd Jul 2021

CBDT amends rule 8AA & insert new Rule 8AB Notification No. 76/2021 dated 02 July 2021

CBDT issued Notification No. 76/2021 dated 2nd July, 2021 amends rule 8AA which relates to Method of determination of period of holding of capital assets in certain cases and added rules related to amount which is chargeable to income-tax as income of specified entity under sub­section (4) of section 45 under the head Capital gains. Notification inserted newContinue reading “CBDT amends rule 8AA & insert new Rule 8AB Notification No. 76/2021 dated 02 July 2021”by Business So Simple3rd Jul 2021

CBDT issued Guidelines under section 9B and sub-section (4) of section 45 of the Income-tax Act, 1961 vide Circular No. 14 of 2021-Income Tax dated 02nd July 2021

1. Finance Act, 2021 inserted a new section 9B in the Income-tax Act 1961 (hereinafter referred to as “the Act”). This section mandates that whenever a specified person receives any capital asset or stock in trade or both from a specified entity, during the previous year, in connection with the dissolution or reconstitution of suchContinue reading “CBDT issued Guidelines under section 9B and sub-section (4) of section 45 of the Income-tax Act, 1961 vide Circular No. 14 of 2021-Income Tax dated 02nd July 2021”by Business So Simple3rd Jul 2021

Finance Minister Smt. Nirmala Sitharaman appreciates CBIC efforts in fighting COVID-19 pandemic; says enhanced revenue collection in recent months should now be the “New Normal”

The fourth anniversary of introduction of GST, the GST Day, 2021, was marked by Central Board of Indirect Taxes and Customs (CBIC) and all its field offices across India here today. The national level programme was organised by CBIC through virtual mode on the digital platform which was attended by all field formations. GST withContinue reading “Finance Minister Smt. Nirmala Sitharaman appreciates CBIC efforts in fighting COVID-19 pandemic; says enhanced revenue collection in recent months should now be the “New Normal””by Business So Simple2nd Jul 2021

Role of women in leading scientific research increasing

The involvement of women as science leaders seems to be increasing. The percentage of women leading research projects has increased by 4 percent over two years, said a recent government report. Women Principal Investigators (PIs) participation in research that received Extramural Research (EMR) support (support through peer-reviewed competitive grant mechanism) was 28% during 2018-19, asContinue reading “Role of women in leading scientific research increasing”by Business So Simple2nd Jul 2021

Highest ever merchandise exports in a quarter (Q1 2021-22, USD 95 billion) in the history of India

Highest ever merchandise exports in a quarter (Q1 2021-22, USD 95 billion) in the history of India India sets a target of USD 400 billion merchandise exports in 2021-22 Despite COVID-19, labour-intensive sectors (engineering goods, rice, marine products, etc.) saw a rapid export growth Highest ever FDI inflow of USD 81.72 billion in 2020-21 NumberContinue reading “Highest ever merchandise exports in a quarter (Q1 2021-22, USD 95 billion) in the history of India”by Business So Simple2nd Jul 2021

Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021 has been issued with immediate effect from today i.e. 2nd July 2021.

In a consistent effort to crackdown on prices of essential commodities like pulses, Govt. of India has issued a landmark order imposing stock limits on Pulses applicable to wholesales, retailers, millers and importers Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021 has been issued with immediate effect from today i.e. 2nd JulyContinue reading “Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021 has been issued with immediate effect from today i.e. 2nd July 2021.”by Business So Simple2nd Jul 2021

PM lauds Uttar Pradesh’s efforts to increase investment and improving ease of doing business

The Prime Minister, Shri Narendra Modi has lauded  Uttar Pradesh’s efforts to increase investment and improving the ease of doing business in last four years.   Commenting on a tweet by the office of Uttar Pradesh Chief Minister,  the Prime Minister underlined the fact that rural areas and small towns are also witnessing these achievements.Continue reading “PM lauds Uttar Pradesh’s efforts to increase investment and improving ease of doing business”by Business So Simple2nd Jul 2021

Six technology innovation platforms launched for development of technologies for globally competitive manufacturing in India.

Six technology innovation platforms launched for development of technologies for globally competitive manufacturing in India. Innovation in high-end technology creates wealth for the country, we must innovate for our needs and lead India towards an ‘AatmaNirbhar Bharat’: Shri Prakash Javadekar Minister of Heavy Industries and Public Enterprises Shri Prakash Javadekar today inaugurated (through virtual mode)Continue reading “Six technology innovation platforms launched for development of technologies for globally competitive manufacturing in India.”by Business So Simple2nd Jul 2021

Government announces inclusion of Retail and Wholesale trades as MSMEs

Ministry of Micro,Small & Medium Enterprises issued Press release today 02 July 2021 on inclusion of Retail and Wholesale trades as MSMEs. Minister of MSME and Road Transport and Highways Shri Nitin Gadkari today announced revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs. In a Tweet he said under theContinue reading “Government announces inclusion of Retail and Wholesale trades as MSMEs”by Business So Simple2nd Jul 2021

India joins OECD/G20 Inclusive Framework tax deal

Majority of the members OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting(including India)adoptedyesterday ahigh-level statement containing an outline of a consensus solution to address the tax challenges arising from the digitalisation of the economy. The proposed solution consists of two components- Pillar One which is about reallocation of additional share of profit to theContinue reading “India joins OECD/G20 Inclusive Framework tax deal”by Business So Simple2nd Jul 2021

Shri Piyush Goyal reviews Critical Infrastructure Projects under PMG Facilitation

Minister of Commerce & Industry, Railways and Consumer Affairs, Food & Public Distribution, Shri Piyush Goyal chaired a meeting for the review of 20 large-scale infrastructure projects with issues enlisted for resolution, with the Project Monitoring Group on the 29th of June, 2021. Shri Som Prakash, Minister of State for Commerce and Industry, Secretary, Department forContinue reading “Shri Piyush Goyal reviews Critical Infrastructure Projects under PMG Facilitation”by Business So Simple2nd Jul 2021

World Intellectual Property Organization Bars Delhi-based Firm from Illegally Using Brand Name “Khadi”

The World Intellectual Property Organization (WIPO), a specialized agency of the United Nations for brand protection across the world, has ordered a Delhi-based firm against using a domain name www.urbankhadi.com, which illegally uses the  brand name “Khadi”.  The Administrative Panel of WIPO’s Arbitration and Mediation Center has ruled that the firm “Om Soft Solutions”, owned byContinue reading “World Intellectual Property Organization Bars Delhi-based Firm from Illegally Using Brand Name “Khadi””by Business So Simple1st Jul 2021

Shri Nitin Gadkari says GST will help in achieving the vision of five trillion dollar Indian economy by 2025, calls for performance audit alongwith financial audit

Minister for Road Transport & Highways and MSME Shri Nitin Gadkari has said that GST will help achieve the vision of five trillion dollar Indian economy by 2025. Addressing a webinar on the “GST Day” on the theme “THE JOURNEY OF GST AND WAY FORWARD – AATMANIRBHAR BHARAT” organised by the Institute of Cost Accountants of IndiaContinue reading “Shri Nitin Gadkari says GST will help in achieving the vision of five trillion dollar Indian economy by 2025, calls for performance audit alongwith financial audit”by Business So Simple1st Jul 2021

Tourism Industry welcomes the schemes announced by the Ministry of Finance for augmenting the tourism sector in fight against COVID-19 pandemic

Union Finance Minister Smt. Nirmala Sitharaman announced the relief package Rs 6,28,993 crore to support Indian economy in fight against COVID-19 pandemic on 28th June 2021.  The financial support to revive tourism in the country was announced with support to many other sectors to stimulate the economic growth. Scheme for Travel and Tourism Stakeholders andContinue reading “Tourism Industry welcomes the schemes announced by the Ministry of Finance for augmenting the tourism sector in fight against COVID-19 pandemic”by Business So Simple1st Jul 2021

Arun Jaitley National Institute of Financial Management (AJNIFM) partners with Microsoft to build an AI and Emerging Technologies Centre of Excellence

Arun Jaitley National Institute of Financial Management (AJNIFM) partners with Microsoft to build an AI and Emerging Technologies Centre of Excellence Joint development of Centre of Excellence to drive cloud and AI led innovation in fintech Partnership will focus on capacity building of government officials, skilling them in emerging technologies, like AI and machine learningContinue reading “Arun Jaitley National Institute of Financial Management (AJNIFM) partners with Microsoft to build an AI and Emerging Technologies Centre of Excellence”by Business So Simple1st Jul 2021

Shri Piyush Goyal calls upon the Chartered Accountants of the country to think big and scale up

Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution Shri Piyush Goyal today called upon the Chartered accountants of the country to think big and scale up to the global levels. Speaking at 73rd Chartered Accountants’ Day Programme organised by the Institute of Chartered Accountants of India, he said that we need aContinue reading “Shri Piyush Goyal calls upon the Chartered Accountants of the country to think big and scale up”by Business So Simple1st Jul 2021

Functionality to register complaint on misuse of PAN in GST Registration-GST Portal updates (29 June 2021)

Functionality to register complaint on misuse of PAN in GST Registration Click here to download Functionality to register complaint on misuse of PAN in GST Registration Thanking You,Team GSTNby Business So Simple1st Jul 2021

In order to reduce the edible oil prices, Center reduces the duty on Crude Palm Oil (CPO) by 5%

Ministry of Consumer Affairs, Food & Public Distribution Press Release dated 30 June 2021 In order to reduce the edible oil prices, Center reduces the duty on Crude Palm Oil (CPO) by 5% Further, to cool down the prices of RBD Palmolein (Refined Palm oil), DFPD recommends removal of the restriction on import of RBDContinue reading “In order to reduce the edible oil prices, Center reduces the duty on Crude Palm Oil (CPO) by 5%”by Business So Simple1st Jul 2021

India will be playing a much greater role in the post pandemic world in creating resilient supply chains

Ministry of Commerce & Industry, Press Release dated 30th June 2021 Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution Shri Piyush Goyal today said that India will be playing a much greater role in the post pandemic world in creating resilient supply chains. Speaking at the India Global forum today, heContinue reading “India will be playing a much greater role in the post pandemic world in creating resilient supply chains”by Business So Simple1st Jul 2021

Guidelines under section 194Q of the Income-tax Act, 1961 – CBDT Circular dated 30 June 2021

Finance Act, 2021 inserted a new section 194Q in the Income-tax Act 1961 (hereinafter referred to as “the Act”) which takes effect from I st day of July, 202 I. It applies to any buyer who is responsible for paying any sum to any resident seller for purchase of any goods of the value orContinue reading “Guidelines under section 194Q of the Income-tax Act, 1961 – CBDT Circular dated 30 June 2021”by Business So Simple30th Jun 2021


On the eve of completion of 4 years of the GST, CBIC to honour the tax payers contributing to the GST success story

On the eve of completion of 4 years of the GST, CBIC to honour the tax payers contributing to the GST success story CBIC to issue certificates of appreciation to honour contributions of tax payers Government reaffirms its commitment to continuous improvement in taxpayer services GST is a historic tax reform introduced on the 1stContinue reading “On the eve of completion of 4 years of the GST, CBIC to honour the tax payers contributing to the GST success story”by Business So Simple30th Jun 2021

Relaxation of time for filing forms (CHG – 1 & CHG – 9) related to creation or modification of charges under the Companies Act, 2013- Extension of time

MCA vide General Circular No. 12/2021 dated 30th June, 2021 says that In continuation of this Ministry’s GC no. 07/2021 dated 03 May 2021 on Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013- Extension of time- reg. and after due examination of the requests received from stakeholders,Continue reading “Relaxation of time for filing forms (CHG – 1 & CHG – 9) related to creation or modification of charges under the Companies Act, 2013- Extension of time”by Business So Simple30th Jun 2021

Relaxation on levy of additional fees in filing of certain Forms(including DPT-3 & Form CFSS) under the Companies Act, 2013 and LLP Act 2008- Extension of time till 31st Aug 2021.

MCA Vide General Circular No. 11/2021 dated 30th June, 2021 relaxing levy of additional fees in filing of certain Forms(including DPT-3 & Form CFSS) under the Companies Act, 2013 and LLP Act 2008 till 31st Aug 2021. Circular says, In continuation to this Ministry’s General Circular No 06/2021 dated 03 May 2021  and on accountContinue reading “Relaxation on levy of additional fees in filing of certain Forms(including DPT-3 & Form CFSS) under the Companies Act, 2013 and LLP Act 2008- Extension of time till 31st Aug 2021.”by Business So Simple30th Jun 2021

Section 206AB:TDS for non-filers of ITR V/s Section 206CCA: TCS for non-filers of ITR w.e.f. 01st July 2021

Dear Friends, Please find below YouTube video link on Section 206AB:TDS for non-filers of ITR V/s Section 206CCA: TCS for non-filers of ITR w.e.f. 01st July 2021Also refer amended Section 206AA,206CC for your reference.https://youtu.be/rI9_6F1CxUg Regards,Bipul Kumarby Business So Simple30th Jun 2021

Section 194Q -TDS(Buyer deduct TDS @0.1%) V/s Section 206C (1H) TCS (Seller collect TCS @0.1%) w.e.f. 01st July 2021

Dear Friends, Please find below YouTube Video link on Section 194Q -TDS(Buyer deduct TDS @0.1%) V/s Section 206C (1H) TCS (Seller collect TCS @0.1%) w.e.f. 01st July 2021 https://www.youtube.com/watch?v=cemDP7uTefo Regards,Bipul Kumarby Business So Simple30th Jun 2021

Entrepreneur dossier-30th June 2021

Entrepreneur dossier-30th June 2021 Thought of the day “The question I ask myself almost every day is, ‘Am I doing the most important thing I could be doing?’’— Mark Zuckerberg Spiritual Economics from Bhagavad Gita As It Is https://krishna.org/spiritual-economics-from-bhagavad-gita-as-it-is/ Chanakya’s taxation https://www.thenews.com.pk/print/497114-chanakya-s-taxation 7 Lessons from Ramayana for every entrepreneur https://ourownstartup.com/7-lessons-from-ramayana-for-every-entrepreneur/ Management Learnings From “Vidur Niti”Continue reading “Entrepreneur dossier-30th June 2021”by Business So Simple30th Jun 2021

Electoral Bearer Bond Scheme 2018 – Sale by Authorised Branches of State Bank of India (SBI) during July 01-10, 2021

The Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 02nd January 2018. As per provisions of the Scheme, Electoral Bonds may be purchased by a person (as defined in item No. 2 (d) of Gazette Notification), who is a citizen of India or incorporated or established in India. AContinue reading “Electoral Bearer Bond Scheme 2018 – Sale by Authorised Branches of State Bank of India (SBI) during July 01-10, 2021”by Business So Simple30th Jun 2021

Mass Emission Standards for E 12 and E 15 Fuels notified

Ministry of Road Transport & Highways Press release dated 29th June 2021 The Ministry of Road Transport and Highways has issued a draft notification dated 28th June 2021,    notifying mass emission standards for E 12( blend of 12% ethanol in gasoline) & E 15 fuels , thereby facilitating their use as automotive fuels. Comments haveContinue reading “Mass Emission Standards for E 12 and E 15 Fuels notified”by Business So Simple30th Jun 2021

MOU BETWEEN INDIAN NAVY AND M/s BEL FOR TECHNOLOGY INCUBATION FORUM (TIF)

Ministry of Defence Press release dated 29th June 2021 A Memorandum of Understanding (MoU) was signed between the Indian Navy and M/s Bharat Electronics Limited, Bangalore on 29 June 21at Integrated Headquarters, Ministry of Defence (Navy), New Delhi forcreation of a joint Technology Incubation Forum (TIF). The Technology Incubation Forum reflects the joint vision ofContinue reading “MOU BETWEEN INDIAN NAVY AND M/s BEL FOR TECHNOLOGY INCUBATION FORUM (TIF)”by Business So Simple30th Jun 2021

Manufacturing sector needs to be strengthened for employment generation

Ministry of Micro,Small & Medium Enterprises Press Release dated 29th June 2021 Shri Nitin Gadkari says Manufacturing sector needs to be strengthened for employment generation Posted Date:- Jun 29, 2021 Minister for MSME and Road Transport and Highways Shri Nitin Gadkari has said that the Manufacturing sector needs to be strenghtened for employment generation andContinue reading “Manufacturing sector needs to be strengthened for employment generation”by Business So Simple30th Jun 2021

Online licensing for use of Spectrum to conduct Experiments, Demonstrations, etc. now a reality

Ministry of Communication Press release dated 29 June 2021 Online licensing for use of Spectrum to conduct Experiments, Demonstrations, etc. now a reality Department of Telecommunications expands Saral Sanchar Portal Applications will be online, no physical interface necessary Time bound processing: Deemed approval in certain cases In an important initiative to encourage spectrum based applications […]by Business So Simple30th June 2021

SERB-DST partners with Intel India to launch first-of-its-kind initiative to advance deep tech-based research in India

The Indian research community will soon be able to pursue industry-relevant research opportunities in the areas of deep technologies that are novel, transformative, and can have a ground-breaking impact on a national scale. The opportunities will be offered by the first-of-its-kind research initiative called ‘Fund for Industrial Research Engagement (FIRE)’ launched by the Science and […]by Business So Simple29th June 2021

Micro food processing Enterprises (PMFME) Scheme

Ministry of Food Processing Industries Press release dated 29th June 2021 Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) Scheme under Aatmanirbhar Bharat Abhiyan Completes One Year Seed Capital worth Rs. 25.25 Cr. disbursed to State Rural Livelihood Mission under the scheme ‘One District One Product’ of 707 districts approved for 35 States/UTs 54 […]by Business So Simple29th June 2021

Enforcing Contracts Portal-Features & portal review

Dear Sir, Please refer YouTube video link on Enforcing Contracts Portal-Features & portal review https://youtu.be/0H3YoiquZgA Extract copy of Press release issued by Ministry of Law & Justice dated 29th June 2021 given below for your reference : Justice Department launches “Enforcing Contracts Portal” The portal aims to promote ease of doing business and improve ‘Contract […]by Business So Simple29th June 2021

PM’s tweets on measures announced by FM

PM’s tweets on measures announced by FM Boost to private investment in medical infrastructure Focus on strengthening healthcare facilities for the children Multiple initiatives for farmers, small entrepreneurs and self-employed persons The measures will help to stimulate economic activities, boost production & exports and generate employment: PM Measures demonstrate our Government’s continuing commitment to reforms: […]by Business So Simple28th June 2021

Tax treatment of conversion of Capital asset into Stock in trade

Dear Sir, Please find below YouTube video link on Tax treatment of conversion of Capital asset into Stock in trade Regards,Bipul Kumarby Business So Simple28th June 2021

Auction for Sale (Re-Issue) of (i) ‘5.63% GS 2026’, (ii) ‘GoI Floating Rate Bond 2033’, (iii) ‘6.64% GS 2035’, and (iv) ‘6.67% GS 2050’

The Government of India (GoI) has announced the Sale (Re-issue) of (i) ‘5.63% Government Security, 2026’ for a notified amount of Rs 11,000 crore (nominal) through price based auction, (ii) ‘GoI Floating Rate Bonds, 2033’ for a notified amount of Rs 4,000 crore (nominal) through price based auction,  (iii) ‘6.64% Government Security, 2035’ for a notified amount of Rs 10,000 crore (nominal) through price based auction,, and (iv) ‘6.67% Government Security, […]by Business So Simple28th June 2021

Presentation of stimulus package of Rs 6,28,993 crore announced by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman to support Indian economy in fight against COVID-19 pandemic

Presentation of stimulus package of Rs 6,28,993 crore announced by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman to support Indian economy in fight against COVID-19 pandemic Ministry of Finance Press release dated Jun 28, 2021 Click here for the Presentation **** RM/MV/KMNby Business So Simple28th June 2021

Electrically configured nanochannels eliminating unwanted energy can revolutionize on-chip data communication and processing in future

Scientists have developed electrically configured nanochannels that can eliminate unwanted energy waste and promise wave-based computing. This can revolutionize on-chip data communication and processing in future.        Conventional electronics is composed of logic circuits having a large number of transistors interconnected by metallic wires. The data carried by electric charges suffer undesirable heating limiting its integration density. […]by Business So Simple28th June 2021

Indian MSMEs as Growth Engines to Economy

Ministry of Micro,Small & Medium Enterprises press release dated 28 June 2021 Minister For MSME and Road Transport and Highways Shri Nitin Gadkari emphasizes on all-round efforts for implementation of various initiatives undertaken as part of Aatmanirbhar Bharat Minister for MSME and Road Transport and Highways Shri Nitin Gadkari has emphasized that all-round efforts are required […]by Business So Simple28th June 2021

All High Court, SC websites-Make Indian Judicial System more Accessible to the Disabled

All High Court websites now have captchas accessible to physically disabled people The e-Committee, Supreme court of India’s special initiative to make Indian Judicial System more Accessible to the Disabled Creation of Standard Operating Procedure (SOP) for generating accessible court documents is under process Judgment Search Portal accessible to persons with disabilities created The task […]by Business So Simple27th June 2021

New Accounting Standards Rules for Small and Medium Sized Company (SMC) w.e.f. 01st April 2021 -Companies (Accounting Standards) Rules, 2021 (MCA Notification dated 23 June 2021)

Dear Friends, Please find below YouTube Video link on New Accounting Standards Rules for Small and Medium Sized Company (SMC) w.e.f. 01st April 2021 -Companies (Accounting Standards) Rules, 2021 (MCA Notification dated 23 June 2021) ✅ New definition of SMC ✅Applicability date of AS rules ✅Obligation to comply with Accounting Standards ✅Benefits of New Definition […]by Business So Simple26th June 2021

Cost-effective, bio-compatible nanogenerators can harvest electricity from vibrations for optoelectronics, self-powered devices

Scientists have fabricated a simple, cost-effective, bio-compatible, transparent nanogenerator that can generate electricity from vibrations all around for use in optoelectronics, self-powered devices, and other biomedical applications. Searching for renewable energy resources with reduced carbon emissions is one of the most urgent challenges due to the increasing threat of global warming and energy crisis. Some […]by Business So Simple26th June 2021

‘itat e-dwar’, an e-filing portal of Income Tax Appellate Tribunal launched https://businesssosimple.com/2021/06/25/itat-e-dwar-an-e-filing-portal-of-income-tax-appellate-tribunal-launched-today/

Government grants further extension in timelines of compliances & tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19 https://businesssosimple.com/2021/06/25/government-grants-further-extension-in-timelines-of-compliances-tax-exemption-for-expenditure-on-covid-19-treatment-and-ex-gratia-received-on-death-due-to-covid-19/

Tax implications on transfer of Immovable property for inadequate consideration https://businesssosimple.com/2021/06/25/tax-implications-on-transfer-of-immovable-property-for-inadequate-consideration/

Payroll Reporting in India – A Formal Employment Perspective https://businesssosimple.com/2021/06/25/payroll-reporting-in-india-a-formal-employment-perspective/

Never forget Income tax due date for Month of June 2021 https://businesssosimple.com/2021/06/25/never-forget-income-tax-due-date-for-month-of-june-2021/

Government has taken several initiatives to harness the food and horticulture potential of the country & development of the food processing sector
https://businesssosimple.com/2021/06/24/government-has-taken-several-initiatives-to-harness-the-food-and-horticulture-potential-of-the-country-development-of-the-food-processing-sector/

IFSCA constitutes a committee for development of avenues for Ship Financing and Leasing in IFSC https://businesssosimple.com/2021/06/24/ifsca-constitutes-a-committee-for-development-of-avenues-for-ship-financing-and-leasing-in-ifsc/

ARCI develops cost-effective catalysts for metal-air battery https://businesssosimple.com/2021/06/24/arci-develops-cost-effective-catalysts-for-metal-air-battery/

Income Tax Department conducts searches in Raipur https://businesssosimple.com/2021/06/24/income-tax-department-conducts-searches-in-raipur/

FDI Inflows are an endorsement of India’s status as a preferred investment destination amongst global investors
https://businesssosimple.com/2021/06/23/fdi-inflows-are-an-endorsement-of-indias-status-as-a-preferred-investment-destination-amongst-global-investors/

Work from Home and Work from Anywhere made easier, No distinction between Domestic and International OSPs, Guidelines for Other Service Providers (OSP) further liberalized https://businesssosimple.com/2021/06/23/work-from-home-and-work-from-anywhere-made-easier-no-distinction-between-domestic-and-international-osps-guidelines-for-other-service-providers-osp-further-liberalized/

International Taxataion: Cabinet approves Agreement between India and Saint Vincent and The Grenadines for the Exchange of Information and Assistance in Collection with respect to Taxes
https://businesssosimple.com/2021/06/23/international-taxataion-cabinet-approves-agreement-between-india-and-saint-vincent-and-the-grenadines-for-the-exchange-of-information-and-assistance-in-collection-with-respect-to-taxes/

Transfer of Property Act governs gifts of immovable property https://businesssosimple.com/2021/06/23/transfer-of-property-act-governs-gifts-of-immovable-property/
Shri Piyush Goyal chairs the review meeting on Single window system for industrial clearances and approvals
https://businesssosimple.com/2021/06/22/shri-piyush-goyal-chairs-the-review-meeting-on-single-window-system-for-industrial-clearances-and-approvals/

Clarification for use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961 (Press release dated 22 June 2021) https://businesssosimple.com/2021/06/22/clarification-for-use-of-functionality-under-section-206ab-and-206cca-of-the-income-tax-act-1961-press-release-dated-22-june-2021/

CBDT issued Circular No. 11 of 2021 dated 21st June 2021 regarding use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961.
https://businesssosimple.com/2021/06/22/cbdt-issued-circular-no-11-of-2021-dated-21st-june-2021-regarding-use-of-functionality-under-section-206ab-and-206cca-of-the-income-tax-act-1961/

CBDT Order u/s 138(1)(a)(i) of Income-tax Act, 1961 ,for furnishing information of “Specified Persons” as per section 206AB & 206CCA to “Tax Deductor/Tax Collector” through the functionality “Compliance Check for Section 206AB & 206CCA
https://businesssosimple.com/2021/06/22/cbdt-order-u-s-1381ai-of-income-tax-act-1961-for-furnishing-information-of-specified-persons-as-per-section-206ab-206cca-to-tax-deductor-tax-collector-throug/

How to save taxes on Sale of residential house ? https://businesssosimple.com/2021/06/22/how-to-save-taxes-on-sale-of-residential-house/

Finance Ministry interact today (22 June 2021) with tax professionals, other stakeholders and Infosys on issues in new Income Tax Portal https://businesssosimple.com/2021/06/22/finance-ministry-interact-today-22-june-2021-with-tax-professionals-other-stakeholders-and-infosys-on-issues-in-new-income-tax-portal/

New functionality issued for compliance checks for sec 206AB & 206CCA to ease compliance burden of tax deductors/collectors vide CBDT Circular No. 11/2021 https://businesssosimple.com/2021/06/22/new-functionality-issued-for-compliance-checks-for-sec-206ab-206cca-to-ease-compliance-burden-of-tax-deductors-collectors-vide-cbdt-circular-no-11-2021/

Proposed Amendments to the Consumer Protection (E-commerce) Rules, 2020
https://businesssosimple.com/2021/06/21/proposed-amendments-to-the-consumer-protection-e-commerce-rules-2020/

Amendment in Food security (Assistance to State Government Rules) 2015
https://businesssosimple.com/2021/06/21/amendment-in-food-security-assistance-to-state-government-rules-2015/

News/23 June 2021

Clarification for use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961 (Press release dated 22 June 2021)- Click here

Article/ 22 June 2021

How to save taxes on Sale of residential house ?–Click here

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