Mukesh Mahto And Associates

23/08/2020

One More Trademark Got Registered. Contact Us for Trademark Apply

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Mukesh Mahto & Associates
Instastartup
IndiaRaasta
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15/08/2020

Freedom comes with the duty to do better. Wear a mask as you celebrate a safe and healthy !

09/03/2020

One More Trademark Got Registered under Team Mukesh Mahto & Associates & Insta Startup....😊😊

09/02/2020

10% TDS u/s 194K to be levied only on dividend payment by Mutual Fund- CBDT clarifies

The Finance Bill, 2020 proposed to remove Dividend Distribution Tax (DDT) at the level of Company/ Mutual Fund and proposed to tax the same in the hands of share/unit holder. It was also proposed to levy TDS at the rate of 10% on the dividend/income paid by the Company/Mutual Fund to its share/unit holder if the amount of such dividend/income exceeds five thousand rupees in a financial year.

Queries have been received to the effect that whether under the proposed section 194K, the Mutual Fund would be required to deduct TDS also on the capital gains arising on redemption of units. It is hereby clarified that under the proposed section, a Mutual Fund shall be required to deduct TDS @ 10% only on dividend payment and no tax shall be required to be deducted by the Mutual Fund on income which is in the nature of capital gains. Necessary clarification, if required, shall be proposed in the relevant provision of the law.

02/02/2020

*Winners and Losers:*

🎁 Who Got What in India’s Federal Budget

There’s a lot riding on Prime Minister Narendra Modi’s budget this fiscal year. Once the world’s fastest growing economy, India is now trying to restart economic growth that’s dipped to an 11-year low. Finance Minister Nirmala Sitharaman said this budget was aimed to boosting incomes and enhancing purchasing power, stressing that the economy’s fundamentals were strong and inflation was well contained.
- India Slashes Taxes,
- Widens Budget Deficit to Spur Economy

’s a short list of winners and losers from Saturday’s budget announcements.*


-*
Sitharaman unveiled plans for India’s highways and railways, proposing 1.7 trillion rupees ($23.7 billion) for transport infrastructure that includes the accelerated development of highways and plans to monetize 12 lots of highway bundles. Key infrastructure players like *Larson & Toubro and KNR Constructions and IRB Infra look set to benefit. Electronics Manufacturing*
The government’s plan to encourage the manufacture of mobile phones, electronic equipment, and semiconductor manufacturing as well as medical devices will be positive for companies such as Dixon Technologies, Amber Enterprises, Subros.
Rural India
The farm and rural sectors were allocated 2.83 trillion rupees, while the agriculture credit target for next year is set at 15 trillion rupees.

*News of the government’s proposal to expand fisheries* and create 500 fish *farmer producer organizations saw gains in Avanti Feeds, Apex Frozen Foods and Waterbase.*
The minister announced that the rail service will be equipped with air conditioned freight cars and the government will provide viability gap funding for warehousing. Container Corporation of India Ltd is set to be the biggest winner off the move.
*The Fast Moving Consumer Goods Index rallied, while Emami, Hindustan Unilever, Dabur, Tata Global are set to rally further.*


Sitharaman *announced measures to help farm sector growth in water-stressed districts, helping to boost the shares of VA Tech Wabag Ltd., which designs and builds water and sewage treatment plants. Shakti Pumps India Ltd. jumped the most in three-weeks* on proposals to help farmers set-up standalone solar pumps to allow them to make a living out of their barren land. The plan to provide piped water across Indian households by 2024 -- with 3.6 trillion rupees in funding *-- means Jain Irrigation Systems Ltd., KSB Ltd., Kirloskar Brothers Ltd., JK Agri Genetics Ltd., PI Industries Ltd. could benefit.*
*The minister also announced 123 billion rupees for the Clean India mission. Companies including Hindustan Unilever,
ITC, Procter and Gamble, Godrej stand to gain here.*



The government is also further developing Bharat Net – or Bharat Broadband Network Ltd. -- a program to bring broadband to villages. *The government plans to provide 60 billion rupees for the project in the next fiscal year. Reliance Industries and HFCL Ltd. stand to benefit.*

Educators
Education received significant attention in Sitharaman’s budget speech, with the sector receiving 993 billion rupees in 2020-21. *The establishment of degree-level, fully-fledged online education programs to be offered by institutions who are ranked within the nation’s top 100 will see online educators like National Institute of Information Technology and MT Educare benefit.*

Firms
The announcement of a policy to allow the private sector to build data center parks has the *potential to benefit all IT firms, including TCS, Infosys, Wipro, HCL Technologies, Tech Mahindra, along with mid-sized firms like LTI, Mindtree, Persistent and Hexaware. Adani Enterprises also stands to benefit from this development.*

& City Gas Suppliers
India plans to expands its national gas grid to 27,000 kilometers from 16,200 kilometers.
*Pipeline suppliers such as Welspun Corp., Maharashtra Seamless Ltd., Ratnamani Metals & Tubes Ltd., Jindal Saw, and Man Industries India Ltd. stand to benefit.*
*Expanding the national gas grid is also positive for positive for companies such as IGL, MGL, and Gujarat Gas.*


*Insurance -* The government’s plan to sell a part stake in Life Insurance Corp. triggered declines in shares of private insurers, which were star performers in 2019. SBI Life Insurance Co. fell, as did HDFC Life Insurance Co. and Nippon Life India Asset Management Ltd.
State-Run Banks
The finance minister stayed silent on infusing new capital into state-run banks for 2020-21. *If the government doesn’t inject fresh capital, it would be the first under Modi’s five years in power. State Bank of India Ltd., Bank of Baroda, Canara Bank, Union Bank of India, Bank of India and Punjab National Bank could be impacted.*
The S&P BSE Bankex index of lenders dropped 2%, the most since Jan. 20.

*Real Estate & Construction
Shares of real estate companies like Godrej Properties, Oberoi Realty Ltd, and DLF Ltd. and Prestige Estates declined* when the finance minister did not announce any specific measure for the sector, which had demanded measures to enhance credit availability for developers, an industry status and other measures that could propel sales.
*The Crisis That Shattered India’s Economic Dreams*

The proposed cut in personal tax rates that will likely enhance purchasing power of middle class and *continuation of tax sops for affordable housing announced in the budget failed to enthuse real estate stocks.*
Fertilizer Companies
Rashtriya Chemicals & Fertilizers Ltd. extended declines among fertilizer manufacturers after Sitharaman proposed balancing the use of chemical fertilizers with a change in incentives. She also announced a renewed focus on zero-budget farming which significantly cuts down on fertilizer consumption. Others impacted include Mangalore Chemicals & Fertilizers, Chambal Fertilizers and Chemicals Ltd. and Madras Fertilizers Ltd.

*Logistics Players* The delay in the country’s long *-awaited National Logistics Policy will be a disappointment for key players such as Blue Dart, Gati and Mahindra Logistics, who have been waiting several years for the announcement...*

31/01/2020

MCA Update
Last date for filing of AOC-4 NBFC (Ind AS) and AOC-4 CFS NBFC (Ind AS) for Financial Year 2018-19 has been extended to 31.03.2020 without payment of additional fees.

31/12/2019

Extension of Last date Filling -4 29-02-2020

30/12/2019

10/10/2019

GST Registration

Every supplier who makes supply of taxable goods and services or both needs to take registration under GST if his aggregate turnover in a financial year exceeds the threshold limit. The Threshold limit for taking registration are as follows:

In case of supplier of services - Rs. 20, 00,000 (Rs. 10, 00,000 for states of Manipur, Mizoram, Nagaland, and Tripura)

In case of Supplier of Goods - Rs. 40,00,000 (Rs. 20,00,000 in the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura, and Uttarakhand) w.e.f. 01.04.2019

More Interpretation

• If supplier involved in Intra-state taxable supply of goods and his aggregate turnover in a financial year does not exceed prescribed amount of threshold exemption limit i.e. Rs. 40,00,000 (20,00,000 in case of certain states), then not required to take registration under GST.

• If Supplier involved in Intra-State taxable supply of Services and aggregate turnover in a financial year does not exceed prescribed amount of threshold exemption limit i.e. Rs. 20, 00,000 (10,00,000 in case of certain states), then not required to take registration under GST.

• If Supplier involved in an Inter-State supply of Services only (not goods) and his aggregate turnover in a financial year does not exceed the prescribed amount of threshold exemption limit i.e. Rs. 20,00,000 (Rs. 10,00,000 in case of certain states), then not required to take registration under GST.

Voluntary Registration

Persons having turnover below 40 Lakh and 20 Lakh can also get themselves registered under GST, there is no restriction on registration when turnover is below 40, 00,000 and 20, 00,000 however, if turnover is more then specified limit then registration is compulsory.

Turnover includes:

Aggregate value of all taxable supplies + exempt supplies + export of goods or services or both + inter-state supplies + It includes supplies made by person on behalf of the his principals (excludes the value of job-worked goods if he is a job-worker)
Aggregate Turnover to be computed by considering all the persons having the same PAN number based on all India.

Persons not liable for Registration

• Person engaged in the business of supplying of only non-taxable goods or services under GST Acts.
• Agriculturist, to the extent of supply of produce out of cultivation of land and
• Persons only engaged in making taxable supplies of goods or services or both, the total tax on which is liable to be paid on reverse charge basis by the recipient of such goods.

Compulsory Registration

GST Act provides compulsory registration of certain suppliers even if their aggregate turnover is below the threshold limit:

• Person making inter-state taxable supply of goods
• Casual taxable persons making taxable supply
• Persons who are required to pay tax under reverse charge
• Person making taxable supply on behalf of another person whether as an agent or otherwise;

08/10/2019

On this auspicious day, wishing good health, wealth and happiness to you and your family. Happy Dussehra!