FORM FCGPR (THEORETICAL AND PRACTICAL ASPECTS)
Posted Date : 10-Jul-2021 , 01:28:16 pm | Posted By
SUJEET KUMAR
FORM FCGPR (THEORETICAL AND PRACTICAL ASPECTS)
With the objective of integrating the extant reporting structures of various types of foreign investment in India, RBI introduced Single Master Form (SMF) through its Notification RBI/2017-18/194 A.P (DIR Series) Circular No.30. Dated June 07, 2...
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Category : FEMA |
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Where to Invest Money in India Now – Booming Market & Money Making
Posted Date : 08-Jul-2021 , 05:16:55 pm | Posted By
CA JATIN KUMAR RATHOR
General believe lies among several goes saying Stock Market is very unstable, tempestuous, uncertain, gamble and nobody likes taking risks in terms of hard earned money. But the truth lies in fact It has given Extraordinary returns to discipline Investors who understood the power of compoundin...
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Category : Finance |
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GST on Supply of Electricity - Dilemma of Levy
Posted Date : 06-Jul-2021 , 05:50:29 pm | Posted By
Ankit Khandelwal
Introduction Electricity or Electrical Energy is one of the major source of revenue for the state governments as it comes under the state list of the Constitution wherein they are collecting electricity charges from the customers. This is one of the major contentious issues whether it would be suppo...
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Category : GST |
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Article on Dynamic QR Code!
Posted Date : 03-Jul-2021 , 02:32:43 pm | Posted By
Shilpa Sardana
Dynamic QR Code for B2C Transactions:
B2C transaction means all the supplies made to unregistered person or consumers. B2C invoices are those invoices where the end user will not be claiming input tax credit.
E-invoicing refers to a method of processing invoices in an electronic format and on a un...
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Category : GST |
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TAX EVASION UNDER GST AND MEASURES TO CURB IT
Posted Date : 19-Jun-2021 , 05:40:56 pm | Posted By
CA. PIYUSH KAPOOR
Introduction
Goods and Services Tax (GST) was implemented in the Indian economy from 1st July 2017 to replace the multiple indirect taxes and surcharges which were levied before 1st July 2017 with a single customized tax structure and also with the objectives of eliminating the cascading effect...
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Category : GST |
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Section 206AB of the income tax act which will be effective from 01.07.2021
Posted Date : 12-Jun-2021 , 08:37:35 am | Posted By
Shilpa Sardana
A new section 206AB in the income tax Act has been introduced which will be effective from 01.07.2021 - as a special provision providing for higher rate of TDS for the non filers of income tax return. This section impose a higher rate of TDS if the transactions are done with the non filers of income...
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Category : Income Tax |
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Relief Measures announced in GST Compliances
Posted Date : 25-May-2021 , 11:57:58 am | Posted By
CA Ronak Khandelwal
Relief Measures announced in GST Compliances
Extension in due date for filing GSTR-4: -
Composition taxpayers for FY 2020-21- The due date extended to 31st May 2021 from current 30th April 2021.
Waiver of late fees in GSTR-3B: - GSTR-3B for the month of Marc...
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Category : GST |
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Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs)
Posted Date : 25-May-2021 , 09:22:57 am | Posted By
CA.Khurana Vivek
RBI/2021-22/25
Ref.No.DoS.CO.ARG/SEC.01/08.91.001/2021-22
April 27, 2021
The Chairman/Managing Director/Chief Executive Officer,
All Commercial Banks (Excluding RRBs)
All Primary (Urban) Co-operative Banks (UCBs)
All Non-Banking Finance Companies (NBFCs) (Including Housing Finance Companie...
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Category : Bank Branch Audit |
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MOOWR Scheme – Solving Working Capital Problems for Importers
Posted Date : 20-May-2021 , 09:44:58 am | Posted By
May I Help You.
With a view to promote India as a global manufacturing hub and the commitment towards ease of doing business, CBIC has notified revamped regulation under Customs Law for manufacture and other operations in bonded warehouse - Manufacture and Other Operations in Warehouse (no.2) Regulations, 2019 (her...
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Category : GST |
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GSTR-2A & GSTR-2B and Rule-36(4)
Posted Date : 20-May-2021 , 12:36:21 am | Posted By
CA Ronak Khandelwal
Question (1) Whether GSTR-2B Legally Recognized. Question (2) Validity of Rule 36(4) as per GST law.
At present time 2B not legally valid and rule 36(4) not applicable any of the client in India. Conditions to Avail GST Input Tax credit prescribed in sec 16(2) (a) he is in possession of a tax invo...
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Category : GST |
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INTEREST ON REVERSAL OF UNUTILSED ITC
Posted Date : 06-May-2021 , 12:21:48 pm | Posted By
CA. PIYUSH KAPOOR
INTEREST ON REVERSAL OF UNUTILSED ITC
Introduction Input tax credit (ITC) is the tax paid by the buyer on the purchase of goods or services. Such tax which is paid ...
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Category : GST |
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Important Income Tax Provisions applicable to Co-Operative Societies.
Posted Date : 23-Mar-2021 , 05:59:11 pm | Posted By
CA M.RAGHAVENDRA PRASAD
The Income Tax Provisions, as applicable to Co-Operative Societies are lucidly mentioned herein below : 1. Section 40A particularly Sub- Section (3): If any payment , whether Capital Expense or Revenue Expense , exceeding Rs 10,000:/is made on one day to one person , then in computing Business...
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Category : Income Tax |
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DOWNSIDE OF BELATED RETURN
Posted Date : 15-Mar-2021 , 02:16:37 pm | Posted By
RAMAN KUMAR
As per rules notified under section 234F of the Income Tax Act which came into effect from 1 April 2017, filing your ITR after the due date, can make you liable to pay a maximum penalty of Rs 10,000.
** However a relief to small taxpayers, the Income Tax Department has stated that if your&nbs...
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Category : Income Tax |
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Difference between Statutory provisions applicable to Companies under Existing Payment of Gratuity Act 1972 (Amended) & The Social Security Code 2020
Posted Date : 24-Feb-2021 , 10:26:47 pm | Posted By
TIKARAM CHAUDHARY
This article is an attempt to elaborate the difference between Statutory provisions applicable to Companies under Existing Payment of Gratuity Act 1972 (Amended) & The Social Security Code 2020 effective from 01.04.2021. Background Gratuity being an important retirement benefit to employees in...
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Category : Income Tax |
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कैटल्स की बिक्री, टैक्सेबल taxfree?
Posted Date : 18-Jan-2021 , 02:57:09 pm | Posted By
RAGHUVEER SINGH POONIA
कैटलà¥...
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Category : Income Tax |
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Policy of Empanelment of CA Firms/LLPs and Selection of Auditors from 2021-22 onwards
Posted Date : 18-Jan-2021 , 09:15:32 am | Posted By
CA.Khurana Vivek
A. Empanelment of CA firms/LLPs Chartered Accountant firms (firms) and Limited Liability Partnerships (LLPs) in India with at least one full time [1] FCA (Partner/Sole Proprietor) can apply for empanelment with this office for the purpo...
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Category : Auditing |
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Names of Audit Firms approved for appointment as Statutory Central Auditors
Posted Date : 15-Jan-2021 , 10:52:55 am | Posted By
CA.Khurana Vivek
Names of Audit Firms approved for appointment as Statutory Central Auditors in the 12 Public Sector Banks for FY 2020-21
Sl. No. Name of the Bank Statutory Central Auditors for FY 2020-21
1
Bank of Baroda
1. M/s Dass Gupta & Associates, New Delhi
2....
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Category : Bank Branch Audit |
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SME Listing Requirements in Stock Markets
Posted Date : 12-Jan-2021 , 09:02:58 pm | Posted By
CS Tanuj Saxena
SME Listing Requirements in Stock Markets:- The following are the listing requirements for the BSE SME Exchange:
The SME must be a PUBLIC LIMITED COMPANY.
The issuer or SME must have a post-issue face value capital of Rs.1 crore to Rs.25 crores. Entities having a post-issue face value of over R...
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Category : Corporate Law |
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FAQ ON COST AUDIT AS PER COMPANIES ACT 2013
Posted Date : 12-Jan-2021 , 08:39:09 pm | Posted By
CS Tanuj Saxena
ARTICLE ON COST AUDIT AND ITS APPLICABILITY AS PER COMPANIES ACT 2013 ============================================================================= FAQ ON THE APPLICABILITY OF COST AUDIT AS PER COMPANIES ACT 2013 Applicability of Cost Audit: All the prescribed companies which meet either...
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Category : Corporate Law |
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Residential status of taxpayers in India
Posted Date : 21-Dec-2020 , 05:37:45 pm | Posted By
RAGHUVEER SINGH POONIA
Some smart taxpayers, along with some smart tax consultants, had developed a system that they would not pay tax in any country of the world. In the finance act 2020, for such taxpayers, the Government of India has tried to bring such taxpayers into the tax net by introducing a new concept "Dee...
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Category : Income Tax |
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