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9 New Functionalities on GST Portal for the month of July 2021
Module wise new functionalities deployed on the GST Portal for taxpayers in the Month of July 2021 GSTN releases 9 New Functionalities relegated to GST Registration, GST return and GST Refunds. These...
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Faceless Assessment Scheme working towards efficient & transparent system: CII
Faceless Assessment Scheme is working towards ensuring a robust, efficient and transparent system – CII Survey On the completion of one year of the Faceless Assessment Scheme, CII conducted a survey t...
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10 Suggestion for improvement in GST to GST Council
1. Before the introduction of the GST all the officers openly promised the trade and industry in all the seminars and the meetings that during the FIRST 2 years of the GST it will be treated as EDUCAT...
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Fixed Asset Management Tool with Depreciation Calculator for Companies
Fixed Asset Management Tool with Depreciation Calculator as per Schedule II of Companies Act 2013 Key Features of Fixed Asset Management Tool with Depreciation Calculator for Companies ♦ Line wise SLM...
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Dominance practices on E-Commerce by Big E-Tailers
Confederation of All India Traders urged Minister of Commerce and Industry Shri Piyush Goyal for simultaneous investigation of Banks & Brands by Competition Commission of India along with Flipkart & A...
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ICAI extends date for completion of ICITSS (ITT and OC)
Board of Studies-Operations(SSEB) The Institute of Chartered Accountants of India 13th August, 2021 Announcement Extending the date for completion of ICITSS (ITT and OC) for provisionally registered s...
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IFSCA Banking Handbook Prudential Directions (PRU)
The IFSCA Banking Handbook- Prudential Directions | 13/08/2021 MODULE NO. 1 GENERAL PRINCIPLES (GENP) 1. Introduction and Applicability i. These prudential rules apply to IBUs established and operatin...
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IFSCA Banking Handbook Conduct of Business Directions (COB)
The IFSCA Banking Handbook- Conduct of Business Directions | 13/08/2021 Purpose: The COB directions are aimed at ensuring that IFSC Banking Units (IBUs) meet the minimum standards of conduct expected,...
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IFSCA Banking Handbook Prudential Directions (PRU)
The IFSCA Banking Handbook- General Directions |13/08/2021 IFSCA BANKING HANDBOOK INTERPRETATION 1. Legal framework i. The International Financial Services Centres Authority Act, 2019 (IFSCA Act) prov...
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Amendments in Regulations 51, 54 & 58 of CAs Regulations, 1988
Board of Studies The Institute of Chartered Accountants of India 13th August, 2021 Announcement Sub: Amendments in Regulations 51, 54 and 58 of Chartered Accountants Regulations, 1988 The Ministry of...
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Transfer/postings of 497 JCIT/Addl. CIT
F.No. A-22012/2/2021-Ad-VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi -110 001 Dated: 12.08.2021 Office Order No. 203 of 2021...
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Taxation Laws (Amendment) Act, 2021
MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 13th August, 2021/ Sravana 22, 1943 (Saka) The following Act of Parliament received the assent of the President on the 13th August,...
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Karnataka HC orders for appearance through Video Conferencing for summon issued
The Karnataka High Court in M/s Pellagic Food Ingredients Private Ltd. v. Union of India [Writ Petition No. 14737/2021[T-CUS] issued an Interim Order dated August 12, 2021] wherein it ordered the Pell...
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Key Features & Benefits of Taxation Laws (Amendment) Bill, 2021
Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be raised in the future based on the retrospective amendment made through...
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Revised Form 18 to facilitate formation of MDP Firm of CAs in Practice
The Institute of Chartered Accountants of India 13th August, 2021 Announcement Sub: Chartered Accountants (Amendment) Regulations, 2021 dated July 8, 2021 This has reference to the Notification No. 1-...
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Exposure Draft of revised AS 105, Non-current Assets Held for Sale and Discontinued Operations
Accounting Standards Board The Institute of Chartered Accountants of India 13th August, 2021/ Sub: Exposure Draft of Revised Accounting Standards for Public Comments The Indian Accounting Standards (I...
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Law & procedure related to GST Registrations- Issues & Suggestions
Bombay Chartered Accountant’s Society has made following two brief representations on the various legal and procedural issues on the provisions relating to GST registration in the GST law and rules wh...
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Rejection of Foreign Tax Credit For Delay/Non-filing of Form 67
Bombay Chartered Accountant’s Society has made a representation to CBDT Chairman and draw his attention towards the difficulties faced, in recent times, by resident taxpayers, in claiming Foreign Tax...
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Section 115BAC of Income-tax Act, 1961
New Income Tax Regime, Section – 115BAC, Income-tax Act, 1961 Tax on income of individuals and Hindu undivided family under new Income Tax Regime: Below is quoted the section 115BAC of Income Tax Act...
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Transactions monitored by Income tax department
There are few transactions which are tracked by the Income tax departments. I have just made a short snippet of it for the views to understand it without any technicality. 1. Cash deposit/withdrawal i...