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Companies Audit Trail Software Mandate postponed to 01-04-2022
Companies (Accounts) Second Amendment Rules, 2021- MCA has postponed the applicability of software with Audit features for Companies from 01.04.2022 instead of 01.04.2021 notified earlier. Also Read:A...
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1.55 lakh companies & 42186 LLP incorporated in FY 2020-21
MCA registers 1.55 lakh company incorporations in FY 2020-21, an increase of 27% year-on-year 42,186 Limited Liability Partnerships got incorporated in FY 2020-21, an increase of 17% year-on-year Duri...
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CBDT notifies CIT (Appeals) for cases under Black Money Act 2015
Board’s approval for notification of CIT(Appeals) in cases under Black Money Act, 2015 F.No. 279/Misc./M-44/2018-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Dire...
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Approval for manual issue of notice u/s 148 without DIN-Reg
Government of India (Ministry of Finance) Department of Revenue Office of the Pr. Chief Commissioner of Income-Tax, Ground Floor, Aayakar Bhawan, 48, Arera Hills, Bhopal – 462011 Tel No: 0755-2525318,...
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CBDT authorizes DIT (CPC) & CIT (Exemption), Bengaluru under Rule 2C, 5CA, 11AA & 17A
CBDT authorizes the Director of Income Tax(Centralized Processing Centre) and Commissioner of Income-Tax (Exemption), Bengaluru vide Notification No. 30/2021-Income Tax Dated 1st April, 2021 under Inc...
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CBDT notifies Provisions of DTAA between India & Iran
CBDT notifies Agreement Between The Government Of The Republic Of India And The Government Of The Islamic Republic Of Iran For The Avoidance Of Double Taxation And The Prevention Of Fiscal Evasion Wit...
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New reporting requirements in Form 3CD & Revision
CBDT has vide Notification No. 28/2021-Income Tax inserted new clauses in Form 3CD (Tax Audit Report) and also notified that Tax Audit Report under Rule 6G can be revised if there is payment by Assess...
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Request for extension of time to file returns of income
All India Federation of Tax Practitioners made a request to FM for extension of time to file the returns of income U/s. 139(4) of the Income-tax Act 1961 (the Act) due to Unsatisfactory working of inc...
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ITR Forms for A.Y. 2021-22 – Who can file which ITR
ITR Forms for A.Y. 2021-22: ITR-1 (Sahaj) -Resident Individual (Other than ordinarily resident) -Total income Upto Rs. 50 Lacs -Income from salary, one house property, other sources (interest etc.), f...
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Competition Commission of India (CCI) – March – 2021 Updates
PRESS RELEASE 1 PRESS RELEASE No. 66/2020-21 – 17.03.2021 CCI issues order against three suppliers for rigging bids in tender floated by Pune Zilla Parishad for procurement of Picofall-cum-Sewing Mach...
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Credit Guarantee Scheme for Subordinate Debt extended
Credit Guarantee Scheme for Subordinate Debt (CGSSD) extended upto 30.09.2021 Government of India announced creation of ‘Distressed Assets Fund- – Subordinate Debt for Stressed MSMEs’ on 13th May, 202...
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Criteria for classification of Non-company entities for AS applicability
The Institute of Chartered Accountants of India Announcement Criteria for classification of Non-company entities for applicability of Accounting Standards The Council, at its 400th meeting, held on Ma...
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Temporary Exceptions to Hedge Accounting for Derivative Contracts
The Institute of Chartered Accountants of India Announcement providing Temporary Exceptions to Hedge Accounting prescribed under Guidance Note on Accounting for Derivative Contracts due to Interest Ra...
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ICAI President’s Message – April 2021
Institute of Chartered Accountants of India My Dear Professional Colleagues, The pandemic has left the world economy grappling with unprecedented shocks and upheaval. Financial woes and economic catas...
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Cabinet approves Production Linked Incentive Scheme for Food Processing Industry
Ministry of Food Processing Industries Posted On: 31 MAR 2021 The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Central Sector Scheme – ‘Production Linked Incentive S...
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GST Revenue collection for March’ 21 sets new record
Ministry of Finance ₹ 1,23,902 crore gross GST revenue collected in the month of March 2021 Posted On: 01 APR 2021 2:01PM by PIB Delhi The gross GST revenue collected in the month of March 2021 is at...
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Updated schedule of CGST rates on goods as on 31.03.2021
For ease of reference only The GST rates on certain goods have under gone changes since the introduction of GST. The rate changes are given effect through amending notifications issued from time to ti...
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15 Statutory compliances of Private Company under Company & FEMA Law
Article compiles 15 Statutory compliances to be done by a Private Limited Company under Companies Act 2013 & FEMA Act,1999. Article explains Nature of Compliance to be Done, Forms which needs to be fi...
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Advisory on filing of Bill of Entry (BE) w.e.f. 29.03.2021
Ministry of Finance Government of India Attention! Importers/Customs Brokers Important amendments regarding filing of Bill of Entry (BE) w.e.f. 29.03.2021 (Section 46 of Customs Act) ♣ BE to be filed...
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CBDT replaces expression National e-Assessment Centre with National Faceless Assessment Centre
CBDT replaces expression National e-Assessment Centre (NeAC) with National Faceless Assessment Centre (NFAC) vide Notification No. 27/2021-Income Tax Dated 31st March, 2021. MINISTRY OF FINANCE (Depar...