Central Board of Indirect Taxes and Customs (CBIC) has sought from India’s top cryptocurrency exchanges details such as the type of digital coins and tokens being traded and their valuation, and how they are divisible. The body wants to bring crypto assets within the ambit of goods and services tax (GST), and is working on …
CBIC seeks details on digital assets from India’s top crypto bourses Read More »
ICAI Students’ Journal – The Chartered Accountant – November 2022 IssueTo Access the Journal Please visit
Implementation of mandatory mentioning of HSN codes in GSTR-1 As per Notification No. 78/2020 – Central Tax dated 15th October, 2020, it is mandatory for the taxpayers to report minimum 4 digit or 6 digit of HSN Code in table-12 of GSTR-I on the basis of their Aggregate Annual Turnover (AATO) in the preceding Financial …
Professional Development Committee (PDC) is pleased to host the Multipurpose Empanelment Form (MEF) for the year 2022-23, which is hosted at www.meficai.org. Before filling the MEF, members are advised to go through the Advisory. Registration/ Login Credentials Existing Applicants: Applicants of MEF 2022-23 can login with MEF 2021-22 credentials. If you have forgotten the password, go to “Forgot …
ICAI Important Advisory: Hosting of Multipurpose Empanelment Form (MEF) – 2022-23 Read More »
Module wise new functionalities deployed on the GST Portal for taxpayers Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics. Various webinars are also conducted as well informational videos prepared …
New functionalities deployed on the GST Portal for taxpayers Read More »
04-Oct-2022 Form 3CEB offline utility is now available for filing on portal. 03-Oct-2022 Time for updating UDINs for forms filed in the assessment year 2021-2022 is available till 30th November, 2022. 01-Oct-2022 e-Pay Tax service is now enabled for Karur Vysya Bank with Over the Counter and Net Banking options. 01-Oct-2022 Form 3CF is available …
FAQ’s for Form 3CA-3CD/3CB-3CD Question 1: What are the prerequisites for filing of Form 3CA-3CD/3CB-3CD? Resolution: The following are the prerequisites for filing of Form 3CA-3CD/3CB-3CD Taxpayer and CA are registered on the e-Filing portal with valid user ID and password Status of PAN of taxpayer and CA is active Taxpayer has assigned CA for …
Income Tax Department Issues FAQ’s for Form 3CA-3CD/3CB-3CD Read More »
Additional Guidelines for removal of difficulties under sub – section ( 2 ) of section 194R of the Income – tax Act , 1961 Finance Act 2022 inserted a new section 194R in the Income – tax Act , 1961 ( hereinafter referred to as ” the Act ” ) with effect from 1st July …
CBDT issues Additional Guidelines For TDS under section 194R Read More »
Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics. Various webinars are also conducted as well informational videos prepared on these functionalities and posted on GSTNs dedicated YouTube channel for …
New functionalities deployed on the GST Portal for taxpayers Read More »
Important Announcement – December 2022 CA Foundation Examination No. 13-CA (EXAM)/December/2022: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to announce that the next Chartered Accountants Foundation Examination will be held on the dates and places which are given below …
Important Announcement – December 2022 CA Foundation Examination Read More »
Under the income tax and other Direct Tax laws, tax refunds arise in those cases where the amount of tax paid by a person (or paid on his/her behalf) is greater than the amount on which he/she is properly chargeable. When you file the return of your income, you can avail tax refund. There are …
Payment enabled via UPI & Credit Card on Income Tax Portal via Payment Gateway Make Payment Online FAQ 1. Can I make my tax payments online?Yes, you can make your tax payment using: Authorized Bank Debit Card, or Authorized Bank Net Banking facility, or Payment Gateway (Debit Card / Credit Card / Net Banking of Non-Authorized Banks …
Payment enabled via UPI & Credit Card on Income Tax Portal via Payment Gateway Read More »
ICAI Students’ Journal – The Chartered Accountant – September 2022 IssueTo Access the Journal Please visit
FOOD SAFETY AND STANDARDS AUTHORITY OF INDIA vide gazette id no. CG-DL-E-16062022-236584 dated 10th June, 2022 published dated 14th June, 2022 has released the “Food Safety and Standards (Vegan Foods) Regulations, 2022”. It’s a concept that prohibits the consumption of all the byproducts obtained from animals and thus one cannot consume dairy, eggs, meat, and …
The Central Government has announced Bailout Package for MSMESs Sector vide Press Release ID: 1846944 dated 01st August, 2022 and has operationalised Aatma Nirbhar Bharat Package for MSMEs to cope up with the COVID-19 crisis. The Ministry has operationalised Emergency Credit Line Guarantee Scheme (ECLGS), Credit Guarantee Scheme for Subordinate Debt (CGSSD) and Self Reliant …
Central Government has announced Package for MSMESs Sector Read More »
Tax Compliance Tracker – August, 2022 Compliance requirement under Income Tax act, 1961 Sl. Compliance Particulars Due Dates 1 Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for the previous month. 07.08.2022 2. Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, and …
Q1. Is the use, display and hoisting of the National Flag guided by any overarching set of instructions? Yes, the “Flag Code of India 2002′ and the Prevention of Insults to National Honour Act, 1971. Q2. What is the Flag Code of India? The Flag Code of India brings together all laws, conventions, practices, and instructions for …
Frequently Asked Questions (FAQs) about the Indian National Flag Read More »
ICAI advises CAs ‘pleasure, not pressure’ in ITR rush Make no mistake, if you miss the July 31 tax deadline, it’s your problem, not your chartered accountant’s (CA), to pore over Form 16, bills and sundry documents. For a change, these overworked professionals immersed in numbers and Excel sheets who often have to bear the …
The changes relating to GST rate, in pursuance of recommendations made by the GST Council in its 47th meeting, came into effect from today, 18th of July, 2022. One such change is moving from imposition of GST on specified goods when bearing a registered brand or brand in respect of which an actionable claim or …
Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2022 Ministry of Corporate Affairs (MCA) vide circular / notification dated 09th June, 2022 has issued “Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2022” further to amend the Companies (Removal of Names of Companies from the …
GST WEEKLY UPDATE :9/2022-23 (29.05.2022) CBIC waives GSTR-4 Late Fee: The CBIC has waived the late fee for GSTR-4 till 30th June 2022. GSTR-4 is a GST Return that has to be filed by a composition dealer. A dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once …
ICAI Students’ Journal – The Chartered Accountant – June 2022 Issue To Access the Journal Please visit
Income tax: 5 cash transactions that can attract INCOME TAX notice This is in reference to the update regarding Income tax: 5 cash transactions that can attract I-T notice. The same is for your information purpose. One needs to remain alert while doing any kind of high value cash transaction because the Income Tax Department has become …
Income tax: 5 cash transactions that can attract INCOME TAX notice Read More »
Re – opening of online filling up of exam application form for ICAI May/June 2022 Foundation, Final, Intermediate & PQC exams from 26th March 2022 (11 AM) to 30th March 2022 (11.59 PM) to mitigate the hardships for students who could not submit earlier. CLICK https://t.co/laTedRCvfC
The Search HSN Code functionality has been enhanced, where taxpayers can search the HSN code and the applicable Technical description through common parlance / trade description of the goods/ services as they are known in the Trade. It helps the taxpayers to search HSN Code by providing description/ part of a description. For creating awareness …
Webinar on Smart Search HSN- An Enhanced search HSN functionality for taxpayers. Read More »
Capital markets regulator SEBI has imposed fines on NSE and its former managing directors and chief executive officers Chitra Ramakrishna and Ravi Narayan and others. The penalty has been imposed for breach of securities contract rules in the appointment of Anand Subramanian as Group Operating Officer and Advisor to the Managing Director (MD). The Securities …
SEBI fines NSE, Ramakrishna, Narayan in top appointment case Read More »
ABOUT ARTICLE: This article contains various Compliance requirements for the Monthof February, 2022 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is acontinuous process of following laws, policies, and regulations, rules tomeet all the necessary governance requirements without any failure. If you think compliance is expensive, try non‐ compliance” Compliance Requirement …
Corporate Compliance Calendar February, 2022 (Due Dates Trac Read More »
If you want to invest for retirement, then these two schemes of the government can give you better returns. Let us tell you that in order to make a good retirement corpus, it is necessary that we should start retirement planning as soon as we start the job. Two government schemes Public Provident Fund (PPF) …
PPF Vs NPS: Which scheme is beneficial for higher returns, know before investing Read More »
As I make this statement, the pandemic holds the global economy hostageonce again. Despite signs of moderation, record numbers of daily infections inseveral countries and consequent containment measures are denting thepace ofeconomic activity, especially in contact-intensive sectors, even as supply disruptions persist and restrained workforce participation tightens thelabour markets. With inflation at multi-decadal highs in …
Your FAQs about Precaution Dose answered Who are eligible for it? Healthcare workers, frontline workers and citizens aged 60 and above with co-morbidities. When to take it? 39 weeks from the date of the second dose. Don’t worry, Co-WIN will send an SMS when your date’s due. How to book an appointment? Using your existing …