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Guidance on updating UDIN for Audit Reports submitted by CA users
The functionality for updating UDIN against the Audit reports submitted by CA users has been enabled at e-filing portal www.incometax.gov.in. Please note that this functionality may not be used for up...
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Proposed Amendments in CGST Act 2017
Amendments in GST Acts ♦ Certain changes have been proposed in the CGST Act through Finance Bill, 2022 based on the recommendations made by the GST Council. ♦ The Amendments pertaining to GST law are...
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One person arrested for bogus ITC claim from fake bills of Rs.102 Crores
Maharashtra State GST Department arrests one person for bogus ITC claim from fake bills of Rs.102 Crores The Maharashtra State GST department arrested one person for bogus ITC claim worth Rs.14 crore...
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UIDAI cancel more than 4.75 lakh Aadhaars for being duplicate
PRESS RELEASE OFFICE OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA New Delhi 06 April, 2022 AUDIT REPORT ON ‘FUNCTIONING OF UNIQUE IDENTIFICATION AUTHORITY OF INDIA’ PRESENTED Performance Audit Repo...
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ICSI appreciates Government for bringing CA, CMA, CS Amendment Bill, 2021
The ICSI lauds the efforts of the Government of India The Institute of Company Secretaries of India appreciates the efforts of the Government of India in bringing the Chartered Accountants, the Cost a...
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New Functionalities for Taxpayers on GST Portal in March, 2022
Article explains about New Functionalities made available for Taxpayers on GST Portal (March, 2022) which are related to Creation of link for Manipur, Enhancements made in the Search Taxpayer function...
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IBBI Discussion Paper on Enhancing effectiveness of Information Utility
Insolvency and Bankruptcy Board of India 8th April, 2022 Discussion Paper on “Enhancing effectiveness of Information Utility” This paper seeks to enhance effectiveness of Information Utility (“IU”) to...
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Tax Revenues in 2021-22 exceed Union Budget estimates by ₹5 lakh crore
The tax revenue in the Union Budget for 2021-22 was estimated at ₹22.17 lakh crore against the revised estimates of ₹19 lakh crore, with a growth of 17%. The Union Budget was presented on 1st February...
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Updated FAQ’s on Regulation 17(1C) of SEBI(LODR) Regulations, 2015
BSE Notice No.: 20220408-45 | Notice Date: 08 Apr 2022 | Category: Circulars Listed Companies | Segment: Equity Subject Updated FAQ’s on Regulation 17(1C) of SEBI(LODR) Regulations, 2015 Dear Sir/ Mad...
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Sample Letter to Bank for Delay in Submitting Documents
8th April, 2022 To The Credit/Branch Manager (Name of Bank) (Name of Branch) Sub.: Late submission of documents Dear Sir, In accordance with the terms of the credit facility sanctioned by your bank to...
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Banks required to credit interest in Inoperative Savings Accounts
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES LOK SABHA UNSTARRED QUESTION NO. 5205 TO BE ANSWERED ON MONDAY, 4th APRIL, 2022/ CHAITRA 14, 1944 (SAKA) INOPERATIVE SAVINGS AC...
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Delhi HC admits petition questioning provision overruling SC Judgment in Canon India case
Delhi High Court admits petition questioning Validity of provisions in Finance Act 2022 which overruled landmark Judgment of Supreme Court in Canon India case. On 07.04.2022, the Delhi High Court admi...
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Contribution to provident fund – Calculation & deduction of taxable interest
EPFO, HEAD OFFICE MINISTRY OF LABOUR & EMPLOYMENT, GOVERNMENT OF INDIA BHAVISHYA NIDHI BHAWAN, 14, BHIKAIJI CAMA PLACE, NEW DELHI 110066 www.epfindia.gov.in No. WSU/6(1)2019/Income Tax/Part-I (E-33306...
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CBDT amends Income Tax rule 2F & rule 8B & release new Form No. 5B & 5BA
CBDT amends Income Tax rule 2F, rule 8B and introduces new FORM NO. 5B – Application for notification of a zero coupon bond under clause (48) of section 2 of the Income-tax Act, 1961 and Form No. 5BA...
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CCI penalises firms for bid rigging & cartelization in Indian Railways tenders
CCI penalises firms found guilty of bid rigging and cartelization in Indian Railways tenders The Competition Commission of India (CCI) issued a final order against eleven (11) companies/ firms which w...
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Use of Cryptocurrency for Drug Trafficking and Arms Smuggling
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO. 5222 TO BE ANSWERED ON MONDAY, 04TH APRIL 2022 CHAITRA 14, 1944 (SAKA) Use of Cryptocurrency for Drug Tra...
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Myth and Reality of Agri Loan Waiver
For getting agriculture gold loan up to Rs.2 lakhs from Banks, there is no requirement to prove that the borrower is an agriculturist. Anybody can avail this loan for which two percent subsidy is give...
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No Discrepancies in payment of GST to States
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO-5137 TO BE ANSWERED ON MONDAY, THE 4th APRIL, 2022 GST DISCREPANCIES 5137. SHRIMATI GEETA KORA: SHRIMATI N...
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GST Council Newsletter for the month of March, 2022
All time high Gross GST collection in March’ 2022, breaching earlier record of Rs. 1,40,986 crore collected in the Month of January, 2022 Rs. 1,42,095 crore gross GST revenue collected in the month Th...
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CGST ghaziabad arrested mastermind of GST fraud of Rs. 783 crs
CGST ghaziabad arrested the mastermind in follow up of an earlier case involved in GST fraud of Rs.783 crs. in value & fake ITC of approx 137 crs. by creating 76 bogus firms in connivance with 2 other...