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TC VIP- Weekly Corporate Affairs Newsletter Contents: SEBI, MCA, RBI, IBC, IPO, MSME Updates

Newsletter Contents: SEBI UPDATES, MCA UPDATES, RBI UPDATES, IBC UPDATES, LABOUR LAW UPDATES, PRESS INFORMATION, IPO & INVESTMENT, IRDAI UPDATES, DEPARTMENT OF TELECOMMUNICATIONS, MSME UPDATES, COMPETITION COMMISSSION OF INDIA, CURRENT AFFAIRS- FAQ’s SEBI Updates [Sl. Particulars Link     1 Review of provisions pertaining to specifications related to International Securities Identification Number (ISIN) for debt …

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Cash Transaction Limit & Penalty under Income Tax

The Finance Act 2017, took various measures to restrain black money and as an outcome of these measures, a new Section 269ST was inserted in the Income Tax Act. Section 269ST imposed restriction on a cash transaction and limited it to Rs.2 Lakhs per day. Section 269ST states that no person shall receive an amount of Rs 2 Lakh or more: …

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GST-aba86171

Latest GST News, Information, Notifications & Announcements [Period 08/10/22 to 14/10/22]

Yes, if you are eligible for e-Invoicing, all the invoices of B2B and Exports need to be registered. No, there is no time limit for delivery of goods or generation of e-waybill for the e-Invoice. Yes, if you are eligible for e-Invoicing, all the invoices including RCM invoices issued by the Supplier need to be …

Latest GST News, Information, Notifications & Announcements [Period 08/10/22 to 14/10/22] Read More »

11,000 job cuts: Mark Zuckerberg’s Message to Meta Employees

Mark Zuckerberg just shared the following with Meta employees: Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. We are also taking a number of additional steps to …

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Taxpayers are frequently receiving notices from the tax department for variance in the amount of ITC availment in GSTR 3B as compared to their respective GSTR 2A/2B

One such change has been recently notified by the government vide Notification No. 14/2022 – Central Tax dated July 5, 2022, in Table 4 of GSTR 3B, meant for Input Tax Credit (ITC) related information. The said changes have been made available on the GST portal since September 1, 2022. In brief, the government has majorly changed the following …

Taxpayers are frequently receiving notices from the tax department for variance in the amount of ITC availment in GSTR 3B as compared to their respective GSTR 2A/2B Read More »

services purchased from Google Ads, Cloud, Workspace, YouTube, Play, and other paid Google services in India.

Google Payments Alert: Changes to using your card with Google

We’re reaching out to inform you that Google has deleted your Visa card information to comply with new Reserve Bank of India card storage regulations. Your card details will no longer be available to make payments for Google services. You can still enter your card details to use your Visa card to make payments. When you …

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Last date to file ITR 2022-23 extension

ITR FIIING LAST DATE FOR AY 2022 23- Central Board of Direct Taxes (CBDT) has extended the due date for filing income tax returns (ITRs) by corporate and individuals whose accounts need to be audited, to November 7, 2022. Earlier the due date of filing ITR for these assessees was October 31, 2022. CBDT had last month extended the …

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Section 139 (4) of the Income Tax Act, 1961, but subject to completion of the assessment.

Income Tax Alert! Exemption of senior citizen is over, now the return will have to be filed, know what has changed here

Under the new directions of the Central Board of Direct Taxes (CBDT), it will be mandatory for individuals, professionals to file income tax returns, whether their income falls in the taxable limit or not. At present, the income tax exemption limit is Rs 2.5 lakh for persons below 60 years of age, Rs 3 lakh …

Income Tax Alert! Exemption of senior citizen is over, now the return will have to be filed, know what has changed here Read More »

RBI e-rupee pilot project launched (e-Rupee including SBI, HDFC, ICICI to issue e-rupee)

e-rupee pilot project launched The RBI started the pilot project of digital currency (e-Rupee). This will be regulated by RBI by the Reserve Bank. RBI has selected 9 banks including SBI, HDFC, ICICI to issue e-rupee. Right now it will be used only for Indian ₹ ERVOF wholesale transactions. This will also lead to cross …

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MCA Portal 2: Sloganeering at the Registrar of Companies office

MCA portal has been a problem for 2 months, audit report, problem in depositing balance seat, CS’s anger erupted on the portal which has been troubled for a long time, a large number of registrars of companies are performing during the tenure, the company  Sitting outside the registrar’s room, the problems being raised in the …

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Latest GST News, Information, Notifications & Announcements [Period 25/10/22 to 31/10/22]

GST Portal Issues Advisory on TRAN-1 for Taxpayers from Daman and Diu & Ladakh: The portal clarified that, “Due to reorganization of the state of Jammu & Kashmir and merger of the Union territories of Dadra and Nagar Haveli and Daman and Diu, the taxpayers of Ladakh and earlier ‘Daman and Diu’ region have been …

Latest GST News, Information, Notifications & Announcements [Period 25/10/22 to 31/10/22] Read More »

TAX COMPLIANCE Calendar – NOVEMBER, 2022

Tax Compliance Tracker – November, 2022

1. Compliance requirement under Income Tax act, 1961   Sl.   Compliance Particulars   Due Dates   1 ​Due date for deposit of Tax deducted/collected for the month of October, 2021. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day …

Tax Compliance Tracker – November, 2022 Read More »

MCA for extension of time period for filing of financial statements

MCA Extension of time period for filing of financial statements for the FY ended 31.03.2022 without levying additional fee

ICSI Request MCA for extension of time period for filing of financial statements THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament (Under the jurisdiction of Ministry of Corporate Affairs) October 21, 2022 MCA: 2022 Shri Tarun Bajaj, IAS Secretary Ministry of Corporate Affairs, Department …

MCA Extension of time period for filing of financial statements for the FY ended 31.03.2022 without levying additional fee Read More »

Sebi Clarification on Block Mechanism in Clients demat account

Securities and Exchange Board of India (SEBI) vide notification no. SEBI/HO/MIRSD/DoP/P/CIR/2022/143 dated 27th October, 2022 in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, and Section 19 of the Depositories Act, 1996, to protect the interests of investors in securities and to promote the development of, …

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FAQ’s for Form 3CEB

Income Tax Department’s Big Update on Filing of Form 3CEB

Income tax department issued FAQs regarding the filing of form 3CEB. Question 1: What are the prerequisites for filing of Form 3CEB? Resolution: The following are the prerequisites for filing of Form 3CEB: Taxpayer and CA are registered on the e-Filing portal with valid user ID and password Status of PAN of taxpayer and CA …

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Advisory on Filing TRAN forms for Taxpayers

GST Portal Update: Advisory on Filing TRAN forms for Taxpayers

Advisory on Filing TRAN forms for Taxpayers from Daman and Diu & Ladakh- Due to reorganization of the state of Jammu & Kashmir and merger of the Union territories of Dadra and Nagar Haveli and Daman and Diu, the taxpayers of Ladakh and earlier ‘Daman and Diu’ region have been allotted new GSTINs. There is …

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ICAI CA November Admit Card 2022 released for CA Inter, Final exam on icai.org, steps and direct links

The ICAI CA November 2022 Exams. Candidates can now download their ICAI Admit Card for the CA Inter and CA Final exams from the official websites – icai.org and eservices.icai.org. ICAI CA November Admit Card 2022 – How to apply Visit the official website – icai.org Click on the link provided for ICAI CA November Admit Card A New page …

ICAI CA November Admit Card 2022 released for CA Inter, Final exam on icai.org, steps and direct links Read More »

Alert: Advisory by ICAI on use of prefix CA on social media

Sub.: Use of designation “Chartered Accountant” or prefix “CA” by members while expressing views on professional/non-professional matters publicly including on social media Ethical Standards Board The Institute of Chartered Accountants of India 22nd October, 2022 Advisory 1.  A Firm of Chartered Accountants (“Firm”) may have an account on Social Networking website(s), wherein it may mention its …

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GST NEWS AND UPDATES

Latest GST News, Information, Notifications & Announcements [Period 11/10/22 to 17/10/22]

GST WEEKLY UPDATE : 29/2022-23 (16.10.2022) GePP Offline – Microsoft Excel based e-Invoice generating software: The MS Excel based tool can be downloaded from the portal to a PC or laptop with the latest MS Office version installed. MS Office 10 or more required for running the tool smoothly. The tool first runs only by …

Latest GST News, Information, Notifications & Announcements [Period 11/10/22 to 17/10/22] Read More »

This government bank will become private by March, the Finance Minister has given information, the process has started!

This government bank will become private by March, the Finance Minister has given information

Many steps have been taken by the government to improve the banking system in the country. The government is once again going to privatize another bank (bank privatisation latest news). Let us tell you that the bids for the privatization of IDBI Bank are likely to be invited by March. At the same time, the …

This government bank will become private by March, the Finance Minister has given information Read More »

GST NEWS AND UPDATES

Latest GST News, Information, Notifications & Announcements [Period 03/10/22 to 09/10/22]

GST WEEKLY UPDATE : 28/2022-23 (09.10.2022): Single sign-on (SSO) functionality has been enabled for e-Invoice and e-Waybill: The Single sign-on (“SSO”) functionality has been enabled for e-Invoice and e-Waybill. The SSO is a facility by which the user can log in to the e-Way bill system using his/her credentials and click on the e-Invoice link …

Latest GST News, Information, Notifications & Announcements [Period 03/10/22 to 09/10/22] Read More »

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

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

If you come under the tax net, then it is good to file Income Tax Return in time. It saves you from many problems. If you have not filed returns for the financial years 2019-20 and 2020-21 due to any reason, then there is good news for you. Such taxpayers can file the return again. …

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Big News For Income Tax : Tax of Re 1 will not have to be paid even on earning of 10 lakhs, Know full details

Income Tax Saving: Form-16 has been issued by the companies. The last date for filing ITR has been fixed by the Income Tax Department as July 31. In such a situation, if you are also thinking of paying tax on income of 10 lakh rupees, then you are wrong. If your salary package is 10 …

Big News For Income Tax : Tax of Re 1 will not have to be paid even on earning of 10 lakhs, Know full details Read More »