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Advisory for GST Registration for banquet halls, farm house, marriage gardens & hotels
GOVT. OF NCT OF DELHI DEPARTMENT OF TRADE & TAXES VYAPAR BHAWAN, IP ESTATE, NEW DELHI-110002 (POLICY BRANCH) ADVISORY It has come to the notice of the Department that several banquet halls, farm house...
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Exercise of power by PCCIT for performance of functions by CIT(A)
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi Notification No. 14/2023-Income Tax | Dated: 21st March, 2023 S.O. 1329(E).—In exercise of the powers...
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Roll out of ‘AIS for Taxpayer’ Mobile App
The Income Tax Department has launched a Mobile app, namely, ‘AIS for Taxpayer’ to facilitate taxpayers to view their information as available in the Annual Information Statement (AIS) / Taxpayer Info...
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ICAI Exposure Draft Guidance Note on Transfer of Capital Reserve
The Institute of Chartered Accountants of India Exposure Draft Guidance Note on Transfer of Capital Reserve (Last date of comments: 20thApril, 2023) Research Committee of the Institute of Chartered Ac...
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Demonetisation and its effect on Indian economy
No study on effect of withdrawal of legal tender character of the Specified Bank Notes (SBNs) on Indian economy has been published by the Government. This was stated by the Union Minister of State for...
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Advisory for the taxpayer wishing to register as “One Person Company” in GST
As per provision of section 2(62) of The Companies Act, 2013 “One Person Company” is defined as a company which has only one person as member. Some issues have been raised by the persons registering a...
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Restaurants entitled to charge GST on service charge voluntarily paid by customer
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO.3167 TO BE ANSWERED ON MONDAY, MARCH 20, 2023/PHALGUNA 29, 1944 (SAKA) GST ON SERVICE CHARGE 3167. SHRI A....
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72.42 Lakh is highest number of ITR filing in a day on 31st July 2022
42.92% of total returns were processed within a span of 24 hours of furnishing of ITR. 19 banks onboarded on online tax payment system TIN 2.0. The Government has taken a number of measures in recent...
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No Restriction for GST Registration For Professional on Residential Address
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE RAJYA SABHA UNSTARRED QUESTION No. 1488 ANSWERED ON 14/03/2023 GST NUMBER TO PROFESSIONALS WORKING FROM HOME 1488. Shri Naranbhai J. Rathw...
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Delhi South CGST unearths fake invoicing racket
involving tax evasion of Rs. 17 crore, 2 held The Central Goods and Service Tax (CGST) Delhi South Commissionerate busts racket of firms fraudulently claiming Input Tax Credit (ITC) of ₹17 crore. A sp...
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Income Tax Launches Mobile App For AIS View
Income Tax Department is pacing with technology and now it has launched mobile application for AIS view. Now the taxpayer can view AIS within a click. The assessee can also provide feedback on informa...
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Yearly Know Your Member (KYM) mandatory for CA Members
PLEASE READ TO PREPARE AND SUBMIT KYM also called as ‘Know Your Member’ is a yearly activity. It is mandatory for members to file for KYM 2023-24 onwards The form displays all available information wi...
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Youtube Live: Statutory Bank Branch Audit – Practical Guide
As we all know that Statutory Bank Branch Audit is a one time task for a particular financial. Also we need to complete the bank audit within limited time so it’s an commendable job on all the charter...
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ICSI approves ICSI Social Audit Standards
The Institute of Company Secretaries of India has approved the ICSI Social Audit Standards covering all the sixteen areas of activities listed by the Regulatory Authorities, where a Social Enterprise...
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ICAI Guidance Note on Audit of Banks (2023 Edition)
Statutory audit of banks involves a number of peculiarities due to some unique features of banks and banking operations e.g. huge volumes and complexity of transactions, wide geographical spread of ba...
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Representation Against Proposed Amendment In Section 43B
NATIONAL CHAMBER OF INDUSTRIES & COMMERCE, U.P. NCIC/24/2022-23/ Dated:16 March, 2023 To, Smt. Nirmala Sitharamanji, Hon’ble Union Minister for Finance Govt. Of India 15 Safdarjung Road New Delhi Subj...
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UIDAI waives fees for online document update of Aadhaar
UIDAI makes online document update in Aadhaar free of cost; to benefit millions of residents The Unique Identification Authority of India (UIDAI) has decided to allow residents to update documents in...
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Notification No. 13/2023-Income Tax, Dated: 14.03.2023
CBDT notifies Notification No. 13/2023- Income Tax, Dated: 14.03.2023 to amend notification number S.O.1911(E) dated the 21st April, 2022 to replace the words Ariyalur & Kanniyakumari with the words D...
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CBDT’s selects 68,000 cases from FY 2019-20 for e-Verification
CBDT’s e-Verification Scheme harnesses information technology to facilitate voluntary compliance On a pilot basis information of financial transactions pertaining to 68,000 cases from FY 2019-20 taken...
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Gross Direct Tax collections for FY 2022-23; 22.58% higher Y-o-Y till 10.03.2023
Direct Tax Collections for F.Y. 2022-23 up to 10th March 2023 Gross Direct Tax collections for FY 2022-23 at Rs. 16.68 lakh crore; 22.58% higher Y-o-Y Net collections at Rs. 13.73 lakh crore; 16.78% h...