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Archive: 22 February 2018

Posts in 22 February 2018

Free Webinar: Invoice Management System from Oct 1, 2024 – Register Now

November 22, 2024 3258 Views 0 comment Print

Learn to manage GST invoices easily with the new IMS. Join our webinar on 24th Nov to improve ITC claims and error reduction. Register now!

Income from sale of Agricultural Land after plotting is business Income

February 22, 2018 19851 Views 1 comment Print

Ramswaroop Saudagar Vs ITO (ITAT Jaipur) Although the land was agricultural land and situated in the limits of city of Dausa. It was developed into 23 plots of various sizes and sold during the year. The nature of land had gone irreversible change from agricultural to residential plots, therefore, we are agree with the finding […]

CBDT notifies centralised communication scheme 2018 for issuance of e-notice

February 22, 2018 12780 Views 0 comment Print

(1) The Centralised Communication Centre shall issue notice to any person requiring him to furnish information or documents for the purpose of verification of information in his possession. (2) The notice shall be issued under digital signature of the designated authority.

Advisory on Improved GSTR-3B Return Filing Process

February 22, 2018 16050 Views 3 comments Print

A) Advisory to Taxpayers on Improved GSTR-3B Return Filing Process Filing of GSTR 3B Return made easier and user friendly. Optimum utilization of ITC is displayed by System, which however can be edited. The amount to be paid in cash after taking into account ITC, gets displayed. One click Challan preparation to avoid payment of […]

What Statutory Auditors of PNB have Assured Stake Holders in their Audit Report for the Year Ended 31-03-2017

February 22, 2018 18210 Views 14 comments Print

There is a lot of misinformation in the media about the role of the statutory auditors of a Bank whether at the HO or the branches. It is not just a test check as stated by a CA to Economic Times. It is not as per an article in Business Standard of 20th February 2018

Interesting replies on FM’s Tweet on authenticity of GST Collection figures

February 22, 2018 20043 Views 16 comments Print

GST Revenue Collection figures appearing in certain section of media are not authentic.Therefore,the same may be ignored.The Department of Revenue, Ministry of Finance releases authentic GST Revenue figures for every month through PIB

Critical Analysis of Draft Companies (Beneficial Interest and Significant Beneficial Interest) Rules, 2018

February 22, 2018 4611 Views 0 comment Print

The Ministry of Corporate Affairs (MCA) vide exercising its power confer under Sec 89, Sec 90 and Sec 469 (1) Companies Act, 2013 Central Government hereby propose to make new rules w.r.t Beneficial Interest and Significant Beneficial Interest issue draft of the said rules on 15-02-2018.

Latest changein GSTR-3B filling makes GSTR-3B more user friendly

February 22, 2018 8040 Views 0 comment Print

1. Fill either CGST or SGST/UGST amount, other tax will get auto filled. 2. You can now save the Form on confirming details filled in the Table. You can fill balance details later. 3. Preview Form or download it for cross verifying saved details in any table(s) anytime. 4. No more Submit requirement to freeze […]

Proposed Change in EPF Admin Charges, threshold limit and EPF Interest Rate

February 22, 2018 14157 Views 2 comments Print

EPFO registration now required at a threshold limit of 10 employees instead of 20 employees

Expenditure on issue of FCCB allowable as revenue expense

February 22, 2018 1497 Views 0 comment Print

FCCB is akin to borrowings made by issuing debentures and both of them are different types of debt instruments only. Accordingly it was held in the case of Prime Focus Ltd. (supra), that the expenses incurred in connection with FCCB are revenue in nature.

Annual income below Rs. 5000: Guidelines for Online Submission of Trust’s Accounts

February 22, 2018 11589 Views 2 comments Print

Now we will understand the procedure for online submission of Trust’s Accounts whose annual income is below Rs.5000/-

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