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Circular in Respect of Residential Status for AY 2020-21
Income Tax Circular No. 11 of 2020 Dated May 8, 2020 in Respect of Residential Status for Assessment Year (AY) 2020-21Section 6 of the Income Tax Act deals with the Residential Status.An individual is...
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Deferment for Approval/ Registration of Charitable Trusts & Exempt Institutions
Deferrement of Procedure for Approval/ Registration/Notifications of certain entities U/s 10(23C), 12AA, 35 & 80G of Income Tax Act, 1961 till 01st October,2020The Finance Act, 2020 has introduced...
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IBC Clarifications on GST procedures
On 23 March 2020 the CBIC issued some clarifications regarding the Goods and Services Tax (GST) compliances needed to be adhered to by the corporate debtors (CD) undergoing Corporate Insolvency Resolu...
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CBDT amends Rule 44G and Form 34F- Application to give effect to DTAA
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Notification No. 23/20020-Income TaxNew Delhi, the 6th May, 2020G.S.R. 282(E).—In exercise of the powers conferred by section 2...
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Email mechanism to obtain e-Sign for easing Process of EPF Compliance
Ministry of Labour & EmploymentEPFO introduces email mechanism to obtain e-Sign for easing the Process of EPF Compliance by Employers during Lockdown Period as employers were finding difficult to use...
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Pradhan Mantri Garib Kalyan Package : Progress so far
Ministry of FinanceAround 39 crore poor people received financial assistance of Rs 34,800 crore under the PMGKPPosted On: 06 MAY 2020Using the digital payment infrastructure, around 39 crore poor peop...
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Draft Guidance Note on Accounting for Share-based Payments
Exposure DraftGuidance Note on Accounting for Share-based Payments(Last date of comments: June 4, 2020)Research Committee of the Institute of Chartered Accountants of India invites comments on any asp...
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Advisory for Statutory Bank Branch Auditors
Specific Considerations while conducting Distance Audit / Remote Audit / Online Audit of Bank Branch under current Covid-19 situationDear Professional Colleagues,We hope this communique will find you...
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GSTN introduces 3 New GST Return & Payment related Functionality
New FunctionalityReturn- Filing Form GSTR-3B, through EVC♣ The taxpayers who are required to mandatorily use DSC to file Form GSTR-3B, now have an option to file it using EVC.♣ This is applicable to f...
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RBI circular no.: RBI/2019-20/186 DOR.No.BP.BC.47/21.04.048/2019-20
Addendum to the Guidance Note on Audit of Banks, 2020 Edition with reference to RBI circular no.: RBI/2019-20/186 DOR.No.BP.BC.47/21.04.048/2019-20 dated March 27, 2020 on COVID 19 – Regulatory Packag...
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Lockdown 3.0 Know about the Zones With Effect from 4th May, 2020
Green ZonesDistricts with zero confirmed cases till date or no confirmed case in the last 21 daysRed ZonesDistricts identified taking into account the total number of active cases, doubling rate of co...
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MCA clarifies on holding of Digital AGM through VC or OAVM
General Circular No. 20/2020F.No. 2/4/2020-CL-VGovernment of IndiaMinistry of Corporate Affairs5th Floor, ‘A’ Wing, Shastri Bhawan,Dr. R. R Road, New Delhi-110001Dated: 5th May, 2020ToAll Regional Dir...
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Last date of filing of Form NFRA-2 extended to 210 days from deployment date
General Circular No. 19/2020F. No 7/39/2019-CL-IGovernment of IndiaMinistry of Corporate Affairs5th Floor, ‘A’ Wing, Shastri Bhawan,Dr. R. P Road, New Delhi-110001Dated 30th April 2020ToAll RDs,All Ro...
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Steps to Withdraw Advance Provident Fund Claim (Only for Covid-19 Pandemic Period)
Due to the lock down amidst Covid-19 Coronavirus Pandemic, Government of India has allowed the employees covered under the Employees Provident Fund Act to withdraw their Provident Fund accumulations a...
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Steps to approve employees provident fund member KYC by employer
It is the responsibility of every employers of establishments covered under the Employees Provident Fund Act to ensure updation of KYC details by the employees covered under the Employees Provident Fu...
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GST Refund Scam- Beware of Fake Messages & Phishing
Hope all are doing well!!I want to bring your attention on the GST Refund Scam which is going on!!!Yes, some fraudsters are taking the advantage of Lockdown & Cash Crunch position and started their lo...
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Extend Due date for GSTR3B for March 2020 till 30/06/2020
The Chairman,GST Council,NEW DELHI.Date : 17.04.2020Respected Madam,The unprecedented damage done by the Covid 19 pandemic world over has left the already suffering Indian Economy in a grave situation...
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Clarification regarding Movement of Persons and Vehicles in Orange Zones, during Two Weeks Lockdown with effect from May 4, 2020
Ministry of Home AffairsPosted On: 02 MAY 2020After a comprehensive review of the Lockdown measures to contain the COVID-19 situation in the country, Union Ministry of Home Affairs (MHA), issued an Or...
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New guidelines for hearing of cases by CAT in Green, Orange & Red Zones
Ministry of Personnel, Public Grievances & PensionsNew guidelines for hearing of cases by CAT in Green, Orange & Red ZonesPosted On: 02 MAY 2020As directed by the Hon’ble Chairman, Central Administrat...
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EPFO makes filing of ECR easier for business
Ministry of Labour & EmploymentEPFO makes filing of ECR easier for businessPosted On: 30 APR 2020In the current scenario of lockdown announced by the Govt. to control the spread of COVID-19 pandemic a...