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Archive: 17 July 2020

Posts in 17 July 2020

FAQs: Provisional Admission to CA Foundation Course

July 17, 2020 2943 Views 2 comments Print

I am a class 12 student and was supposed to appear for 12th examination conducted by State Board. Due to the outbreak of the COVID -19 pandemic, the CBSE /ICSE/State Board suspended the exams and therefore, I could not sit in any of the papers of class 12th examinations for the time being. Can I register for the Foundation course?

All about filing of eForm PAS-6

July 17, 2020 33228 Views 2 comments Print

Article explains Law(s) Governing the eForm PAS-6: Reconciliation of Share Capital Audit Report (Half Yearly), Purpose of the eForm PAS-6: Reconciliation of Share Capital Audit Report (Half Yearly), Meaning of Key Fields of eForm PAS-6 and what to be filled in those fields, Provisions related to Person who can Sign eForm PAS-6 Digitally on Behalf of the Company, Certification of eForm PAS-6, Fee Rules related to filing of eForm PAS-6, Processing Type of eForm PAS-6, SRN Generation On successful submission of the eForm PAS-6, Email on Complete Processing of eForm PAS-6, Companies exempt from filing of eForm PAS-6 & Due Date for Filing eForm PAS-6

Important Insights from the case of Abdul Hamid Vs ITO

July 17, 2020 2931 Views 0 comment Print

Shri Abdul Hamid Vs ITO (ITAT Gauhati) Important facts of the case: 1) The assessee was engaged in the retail business of eggs & was also the partner of a partnership firm M/s Nihar Enterprises. 2) During the Regular Assessment Proceedings for Assessment year, 2014-15 AO found that a Bank Account @ Central Bank of […]

New GST provisions effective from 30th June 2020

July 17, 2020 6885 Views 2 comments Print

New GST provisions effective from 30-6-2020-Introduced by Finance Act, 2020, Notification No. -49/2020-CT dated 24th June 2020 Background:                                              Goods & Service Tax (in short “GST”) introduced in year 2017 undergone various changes on recurring basis. In Feb’ 2020 the Finance Bill was introduced which eventually enacted as Finance Act’ 2020 (in short F.A.’2020). The […]

MCA widens CSR for defence personnel

July 17, 2020 6333 Views 0 comment Print

MCA has issued several notifications either to clarify or broaden the ambit of Schedule VII. This Notification is yet another step taken by the MCA for widening the scope of CSR activities to include CAPF and CMPF veterans and their dependants and war widows.

Conversion of LLP Into Company- Legal Provisions

July 17, 2020 3015 Views 0 comment Print

Article explains Conversion of LLP into Company under Companies Act, 2013 and explains about Companies capable of being registered Relevant Section 366, Resolution in General Meeting required to be passed Section 366(2), Rule 3(1) of the Companies (Authorized to Register) Rules 2014, Information and documents required to be filed with registrar Rule 3(2), Verification under […]

LLP Form 3 & 4 – Cases of filing separate or together

July 17, 2020 81033 Views 11 comments Print

As per LLP Act, 2008, for any change in constitution of LLP, basically there are two forms need to be filed i.e. Form 4 and Form 3. Form 3 is required to be filed for Information with regard to limited liability partnership agreement and changes, if any, made therein. Form 4 is required to be filed […]

8 GST Issues for discussion with Grievance Redressal Committee

July 17, 2020 13941 Views 3 comments Print

Notice from CGST department for Audits + Verification of Transition Credit: It is seen in last 15 days that CGST department is issuing Notices for Audits and Transition credit. Most of the information sought from taxpayers is already with the department in electronic form and it is only a repetition of work. Also, in current COVID-19 scenario, Social distancing is need of hour. Physical presence has to be avoided.

Goa AAR Authority Holds GST @ 18% for Hand Sanitizer

July 17, 2020 1293 Views 0 comment Print

Multiple rates of GST have now become a point of the bone of contention between hand sanitizer manufacturers and the government. Earlier this month, the Bureau of Central Intelligence had cautioned alerted the GST authorities regarding such alcohol-based sanitizers manufacturers who we’re giving 12% GST on such products by making wrong classifications categorizing them erroneously as“medicaments “(under tariff heading 3004) […]

Section 11 Exemption cannot be Denied Merely because Income is Exempt from Principles of Mutuality

July 17, 2020 1431 Views 0 comment Print

The issue under consideration is whether the exemption u/s 11 will be allowed against the interest income, exchange gain, and miscellaneous income to the Confederation of Indian Textile Industry?

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