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Archive: November, 2018

Posts in November, 2018

CBIC extends due date to file Form GSTR-1 in 12 districts for taxpayers having turnover above Rs 1.5 crores

November 29, 2018 909 Views 0 comment Print

CBIC extends the due date for filing of FORM GSTR – 1 for taxpayers having aggregate turnover above Rs 1.5 crores for taxpayers in Srikakulam district in Andhra Pradesh and 11 districts of Tamil Nadu vide Notification No. 63/2018 – Central Tax Dated 29th November, 2018. Government of India Ministry of Finance (Department of Revenue) Central Board […]

CBIC Extend dates for filing GST returns FORM GSTR-3B in 12 Districts

November 29, 2018 42114 Views 0 comment Print

CBIC Extends dates for filing GST returns FORM GSTR-3B in the district of Srikakulam, Andhra Pradesh, and in eleven districts of Tamil Nadu vide Notification No. 62/2018 – Central Tax Dated 29th November, 2018

Do’s and Don’ts while dealing with Investment Advisers

November 29, 2018 789 Views 0 comment Print

Always deal with SEBI registered Investment Advisers. Ensure that the Investment Adviser has a valid registration certificate. Pay only advisory fees to your Investment Adviser. Make payments of advisory fees through banking channels only and maintain duly signed receipts mentioning the details of your payments.

Complete time barring scrutiny assessments by 25.12.2018: CBDT

November 29, 2018 2052 Views 0 comment Print

Assessing Officers should be sensitized to that fact that they should stagger their E-assessment related workload so that all assessments get uploaded by 25th of December, 2018 and no ticket is raised after the said date.

Loss due to reduction in Face Value of share capital is Capital Loss

November 29, 2018 9072 Views 0 comment Print

Section 2(47) is containing an inclusive definition and inter alia, it provides that relinquishment of an asset or extinguishment of any right there in amounts to a transfer of a capital asset.

What are ESOPs?

November 29, 2018 3966 Views 0 comment Print

Employee Stock Ownership Plan also commonly known as ESOP, is a skillful and well defined plan that is meant to provide advantage to both the employee as well as the employer, in which an employee mainly invests in the stock of the sponsoring company.

Registration open for GSTP enrolled on GSTN after 15.11.2018 & till 26.11.2018

November 29, 2018 873 Views 0 comment Print

Now the GSTPs in the relevant category, who are enrolled on GSTN after 15.11.2018 and till 26.11.2018, are also invited to register on the portal. The portal is open for registration upto 5.12.2018.

Section 40A(3) additions not justified when demand draft amount credited to bank account although not crossed

November 29, 2018 2460 Views 2 comments Print

M. K. Agrotech Private Ltd. Vs ACIT (Karnataka High Court) The main purpose of crossing a demand draft is to ensure that the payment is cleared by means of an account, i.e., the payment is deposited in the Bank Account i.e the person in whose favour the demand draft has been drawn. It ensures the […]

Standard On Internal Audit (SIA) 4 Reporting

November 29, 2018 11211 Views 0 comment Print

The following is the text of the Standard on Internal Audit (SIA) 4, Reporting, issued by the Council of the Institute of Chartered Accountants of India. These Standards should be read in conjunction with the Preface to the Standards on Internal Audit, issued by the Institute. In terms of the decision of the Council of […]

Rise by Lifting Others: Set An Example

November 29, 2018 1899 Views 7 comments Print

Inspired by her husband Devendra Kumar Somani, who is also a chartered accountant, CA. Rekha Somani having Arts background joined CA course in the age of 37 years and passed CA (Final) examination in May, 2017. She had rejoined studies after a long gap of about 17 years. It was really a difficult task for […]

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