"02 September 2019" Archive

Consolidated circular for Income Tax assessment of Startups

Circular No. 22/2019 (30/08/2019)

In case of Startup companies recognized by Department for Promotion of Industry and Internal Trade (DPIIT) which have filed Form No. 2 and whose cases are under limited scrutiny on the single issue of applicability of section 56(2)(viib) of the Income-tax Act, 1961 (the Act),the contention of the assessee will be summarily accepted....

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FAQs issued by UDIN Monitoring Group of ICAI Dated 02.09.2019

FAQs issued by UDIN Monitoring Group of ICAI Dated 2nd September,2019 1. If UDIN could not be generated at the time of signing the Audit Reports/Certificates, what steps should I  follow? It is mandatory to generate UDIN while signing the Audit Reports/Certificates/Document. However, if any member is unable to generate UDIN as desired ab...

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Posted Under: Income Tax |

Why amendments introduced in SEBI Insider Trading Regulations

In order to promote healthy growth of the securities market in India and to protect common investor in India, the SEBI vide SEBI (Prohibition of Insider Trading) Amendment Regulations, 2018 notified certain amendments to SEBI (Prohibition of Insider Trading) Regulations 2015...

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Posted Under: Income Tax |

Due date Compliance Calendar for September 2019

Article compiles due dates of compliance related to GST, Income Tax, ESI, PF Acts which includes compliance related to GSTR-1, GSTR-3B, ITC-04, GSTR-5 & 5A, GSTR-6, GSTR-7, GSTR-8,  RFD-10, Due dates for payment of TDS / TCS, Dues date for Payment of Advance Tax, Due date for Issue of TDS/ TCS Certificates, Due date for […]...

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Posted Under: Income Tax | ,

Taxable Value for collection of Tax Collection at Source (TCS)

Taxable Value for collection of Tax Collection at Source (TCS) under Income Tax Act-1961 There are lot of confusion over calculation of taxable value for the purpose of collection of TCS under section 206C of Indian Income Tax Act-1961. Some Deductors collect TCS on value excluding of Taxes such as GST, while some collect TCS […]...

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Posted Under: Income Tax |

Steering Committee on Fintech related issues submits its Final Report to FM

Steering Committee on Fintech related issues submits its Final Report to Finance Minister The Steering Committee on Fintech related issues constituted by the Ministry of Finance, Department of Economic Affairs, today submitted its Final Report to Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman in her office in New D...

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Posted Under: Income Tax |

CSR Committees and its Meetings

Corporate Social Responsibility (CSR): Corporate social responsibility refers to the initiative and contribution of an enterprise towards the economic, environmental and social welfare of the general community. In this article, we look at some of the major aspects of CSR committees and its Meetings. CSR COMMITTEES Constitutions of CSR Com...

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Posted Under: Income Tax |

Drive through Supply under GST

When it comes to taxation law it becomes very important because it is taxable event under GST for that purpose first we need to understand the meaning of supply under GST. It is a deciding criterion for imposing GST whether a particular transaction falls under the diameter of taxable event or not....

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Posted Under: Income Tax |

Online empanelment as Concurrent Auditor with UCO Bank

UCO Bank invites online applications from practicing firms of Chartered Accountants within India, in the prescribed format, who are willing to have their firms empanelled as Concurrent Auditors of the Bank....

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GST, Excise, Service Tax & Customs updates for August 2019

Indirect Taxes Updates- GST, Customs, Excise, Service Tax & VAT- Month – August 2019 A. GST Updates for the Month of August 2019 I. Recent GST Notifications and Circulars on GST Due date for filing GST annual return for 2017-18 postponed to 30-11-2019: Due date for filing GST annual return for the period from 1-7-2017 […]...

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Posted Under: Income Tax |