Day: December 18, 2021

Mandatory activation of Multi-Factor Authentication

EPFO Issue Important Circular for Mandatory activation of Multi-Factor Authentication

Leave a Comment / EPFO / By / December 18, 2021 / , ,

Sub:- Mandatory activation of Multi-Factor Authentication-Req. Sir/Madarn, It is informed that, with immediate effect, installation of 2 Factor Authentication (2FA) has been made mandatory by NIC for using the email id on “@epfindia.gov.in” domain. All users availing the email services from NIC (i.e. @epfindia.gov.in) need to use 2 Factor Authentication (2FA) to access their email …

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RBI Reiterates Legal Tender Status of ₹10 Coins of Different Designs

Leave a Comment / BUSINESS & ECONOMY / By / December 18, 2021

It has come to the notice of the Reserve Bank that in certain places of Andaman and Nicobar Islands there is some reluctance on the part of few traders and members of the public to accept ₹10 coins. Reserve bank clarified that the Bank puts into circulation, the coins minted by the Government of India. …

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Company Secretaries role is more than just a job position. They have to play a pivotal role in structuring the governance framework of the country – Shri Amit Shah

Leave a Comment / ICSI / By / December 18, 2021

Union Home Minister Amit Shah attends Institute of Company Secretaries of India’s national award distribution ceremony in Mumbai “You’ll shape the corporate culture in future. Take care of the company’s health, just how doctors take care of their patient’s health,” he said CompanySecretaries role is more than just a job position. They have to play …

Company Secretaries role is more than just a job position. They have to play a pivotal role in structuring the governance framework of the country – Shri Amit Shah Read More »

Income_Tax

Government To Not Extend Due Dates Under Income Tax And GST: Sources

Leave a Comment / BUSINESS & ECONOMY / By / December 18, 2021 / ,

Associate Editor of CNBC TV18, Timsy Jaipuria has tweeted that: Attention Taxpayers & CAs! Government in no mood to extend any tax deadlines; be it GST or Income Tax filing. Finance Ministry’s view: “Enough extensions given, taxpayers have been encouraging in filing their returns on time thus do not require any extension.” Attention Taxpayers & …

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Statistics of Income Tax Returns filed till 17.12.2021

5 Comments / INCOME TAX / By / December 18, 2021

Here are the statistics of Income Tax Returns filed till 17.12.2021. A total of 3,71,74,810 ITRs have been filed upto 17.12.2021, with 6,91,338 ITRs having been filed on the day itself.For any assistance, pl connect on orm@cpc.incometax.gov.inWe will be glad to assist! The Income Tax Department strongly urges all taxpayers to view their Form 26AS …

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Rs. 70 Crore Mega Common Facility Centre for Gem and Jewellery to come up at SEEPZ Mumbai

Leave a Comment / BUSINESS & ECONOMY / By / December 18, 2021

Shri Goyal urges the gem and jewellery industry to focus on 3 Ts – Technology, Trade and Training Make the Indian gem and jewellery industry a global champion – Union Minister Piyush Goyal The Union Commerce Minister Shri Piyush Goyal today laid the foundation stone for a Mega Common Facility Centre for Gem and Jewellery …

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a glimpse on forms of business organisations in austrailia

A GLIMPSE ON FORMS OF BUSINESS ORGANISATIONS IN AUSTRAILIA

Leave a Comment / INTERNATIONAL TAXATION / By / December 18, 2021

A foreign company or an investor proposing to incorporate a business in Australia may choose from a number of different entities or forms of business organisation. Each of these forms has its advantages and disadvantages. Business owners will need to carefully consider them and take advice to determine which is the most appropriate form for …

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1.42 kg of Gold and electronic goods totally worth Rs. 1.13 Crores were seized; Five Passengers arrested.

Leave a Comment / BUSINESS & ECONOMY / By / December 18, 2021

1.42 kg of Gold and electronic goods totally worth Rs. 1.13 Crores were seized by Chennai Air Customs. Five Passengers arrested. On 16.12.2021 (Thursday), four passengers who arrived from Dubai by Indigo flight 6E-66 at 1110 hrs. were intercepted at exit gate. On personal search & examination of their checked in baggage, 1147 grams of …

1.42 kg of Gold and electronic goods totally worth Rs. 1.13 Crores were seized; Five Passengers arrested. Read More »

AS-10 PPE

Accounting Standard (AS) 10 Property, Plant and Equipment

Leave a Comment / COMPANY LAW / By / December 18, 2021 / ,

ACCOUNTING STANDARD AS 10 Property, Plant and Equipment AS 10 is to be applied in accounting for property, P&E (Plant and Equipment) and this standard are not applicable to: (a) Biological Assets which are related to agricultural activities except for bearer plants. The Standard is applicable to bearer plants, however, it doesn’t apply to the …

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THE CHARTERED ACCOUNTANTS AMENDMENT BILL 2021

CHARTERED ACCOUNTANTS, THE COST AND WORKS ACCOUNTANTS AND THE COMPANY SECRETARIES (AMENDMENT) BILL, 2021

Leave a Comment / ICAI, ICSI / By / December 18, 2021

Bill No. 161 of 2021 THE CHARTERED ACCOUNTANTS, THE COST AND WORKS ACCOUNTANTS AND THE COMPANY SECRETARIES (AMENDMENT) BILL, 2021 A BILL further to amend the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980. BE it enacted by Parliament in the Seventy-second Year of the Republic …

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ICAI releases Exposure Draft of the Amendments in the Commercial & Industrial Taxonomies

Leave a Comment / ICAI / By / December 18, 2021

ICAI IMPORTANT ANNOUNCEMENT- Exposure Draft of the Amendments in the Commercial & Industrial (C&I) Taxonomies- IND AS based Taxonomy & AS based Taxonomy(Comments to be received by January 15, 2022) Ministry of Corporate Affairs (MCA) has mandated the filing of financial statements in XBRL format for the specified class of companies for which the XBRL …

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RBI Central Board Discussion On Cryptocurrency And CBDC

RBI Board discusses CBDC and private cryptocurrency

Leave a Comment / MARKETS / By / December 18, 2021 / , , , ,

The Central Board, the apex policy-making body of the Reserve Bank of India (RBI), on Friday discussed all aspects related to central bank digital currency (CBDC) and private cryptocurrencies. The government is preparing to bring a law for the regulation of cryptocurrencies. The Cryptocurrency and Official Digital Currency Regulation Bill 2021 is planned to be introduced in …

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Re-open Assessments For Assessment Years 2015-16 To 2018-19: CBDT Asks Tax Officers

Re-open Assessments For Assessment Years 2015-16 To 2018-19: CBDT Asks Tax Officers

Leave a Comment / INCOME TAX / By / December 18, 2021 / , , , ,

By issuing a circular, the CBDT has asked tax officials to re-open assessments under section 148 of the Income Tax Act 1961 for the assessment years 2015-16 to 2018-19. “It is directed that the information pertaining to assessment year 2015-16 and assessment year 2018-19, which requires action under Section 148 of the Income Tax Act …

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