TC

CBIC seeks details on digital assets from India’s top crypto bourses

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 …

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ICAI Important Advisory: Hosting of Multipurpose Empanelment Form (MEF) – 2022-23

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 …

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New functionalities deployed on the GST Portal for taxpayers

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 …

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Income-tax: Form 3CEB offline utility is now available for filing on portal; Know latest Update

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 …

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FAQ’s for Form 3CA-3CD/3CB-3CD

Income Tax Department Issues FAQ’s for Form 3CA-3CD/3CB-3CD

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 …

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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 on these functionalities and posted on GSTNs dedicated YouTube channel for …

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Mock Test Papers Series – II for December, 2022 CA Foundation Examination

Important Announcement – December 2022 CA Foundation Examination

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 …

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ITR Old Tax Filing: You will get a chance to file two years old tax, know what are the rules

Payment enabled via UPI & Credit Card on Income Tax Portal via Payment Gateway

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 …

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FSSAI Mandating the non-issuance of Offline Renewal of FSSAI license

FSSAI’s Notification on Vegan Foods

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 …

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Central Government has announced Package for MSMESs Sector

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 …

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STATUTORY TAX COMPLIANCE TRACKER – FOR JUNE, 2022

Tax Compliance Tracker –  August, 2022

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 …

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Frequently Asked Questions (FAQs) about the Indian National Flag

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 …

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Make no mistake, if you miss the July 31 tax deadline, it’s your problem, not your chartered accountant’s (CA)

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 …

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Changes relating to GST rate, in pursuance of recommendations made by GST Council, effect from today [Important FAQ’S]

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 …

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MCA Amends Strike-off of Rules

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 …

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GST PORTAL UPDATE

Latest GST News, Information, Notifications & Announcements [Period 23/05/22 to 29/05/22]

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 …

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INCOME TAX RAID in Bengaluru

Income tax: 5 cash transactions that can attract INCOME TAX notice

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 …

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New GST Rates: 10 Household Items That Will Cost More From July 18

Webinar on Smart Search HSN- An Enhanced search HSN functionality for taxpayers.

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 …

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SEBI fines NSE, Ramakrishna, Narayan in top appointment case

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 …

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Corporate Compliance Calendar February, 2022 (Due Dates Trac

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 …

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PPF Vs NPS: Which scheme is beneficial for higher returns, know before investing

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) …

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Governor’s Statement:

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 …

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