"10 January 2021" Archive

Income Tax e-Filing Reset Password

Forgot your Password? Not to Worry! Now there are 3 Easy ways to reset your Password 1. Using Aadhaar OTP Pre-requisite: To generate Aadhaar OTP, Taxpayer’s PAN and Aadhaar must be linked. To Reset Password using the ‘Using Aadhaar OTP’ option, the steps are as follows: STEPS : 1. In Homepage, Click on “LOGIN HERE” [&hel...

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Posted Under: Income Tax |

Amendments in Companies Act, 2013 regarding provisions of ‘Special Court’

The definition of Court under Section 2(29) the Companies Act, 2013, (the Act, 2013) also includes a ‘Special Court’ constituted under Section 435 of the Act, 2013. Chapter XXVIII constituting Sections 435 to 446B deals with the Special Courts under the CA, 2013. The definition of Court under Section 2(29) the Act, 2013 may be [&helli...

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Posted Under: Income Tax |

A Strong Case for Modifications in Logo of Income Tax Department

I happened to closely study the contents in the logo of the Income Tax department of India and also watch the debate that went on in the social media some time back with regard to the tag line ‘Kosh Moolo Dandah’ incorporated in the devanagari script in the logo. Reproduced hereunder is the logo presently […]...

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Posted Under: Income Tax |

Step by Step process for RoDTEP Scheme

Step by Step process for RoDTEP Scheme -A step towards Zero Rating of exports- FTP Background: Foreign Trade Policy 2015-20 and other schemes provide promotional measures to boost India’s exports with the objective to offset infrastructural inefficiencies and associated costs involved to provide exporters a level playing field. Most of ...

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Posted Under: Income Tax |

Summary Notes on Advance ITT Exam as per ICAI

The impact of Information Technology (IT) on several aspects of accounting profession and practice has been pronounced over the last two decades. The revolutionary developments of various IT tools and techniques have a far reaching impact on the organizations. In today’s business world, accounting professionals have to interact with com...

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Posted Under: Income Tax |

Compoundable offences under Companies Act 2013

Section 441 of the Companies Act, 2013 (CA, 2013) deals with Compounding of offence. Compounding of offences is not new under the Company Law; similar provisions were also present in Section 621A of the Companies Act 1956 (erstwhile Act). According to Section 441(1) of the CA, 2013, as amended by the Companies (Amendment) Act, 2017 w.e....

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Posted Under: Income Tax |

Extend due dates of GST, Income Tax & ROC Compliances

All India Joint Representation Committee for GST have filed representation by way of join petition of 24 GST and Trade Associations and 5226 signatories to the signature campaign considering short extension granted in connection with GSTR 9 & 9C for FY 1819 & FY 1920 , Income Tax Returns, Tax Audit and Transfer Pricing Reports [&h...

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Posted Under: Income Tax | ,

Aadhaar Authentication / e-KYC for Existing Taxpayers on GST Portal

Functionality for Aadhaar Authentication and e-KYC where Aadhaar is not available, has been deployed on GST Common Portal w.e.f. 6th January, 2021, for existing taxpayers. All taxpayers registered as Regular Taxpayers (including Casual Taxable person, SEZ Units/Developers), ISD and Composition taxpayers can do their Aadhaar Authentication...

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Posted Under: Income Tax |

Extend CFSS 2020 & LLP Settlement Scheme to 31.03.2021

KSCAA has requested for Request for Extension of Companies Fresh Start Scheme i.e. CFSS 2020 and LLP Settlement Scheme 2020 to 31st March 2021 considering genuine hardships which have arisen due to Technical issues with MCA 21....

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Posted Under: Income Tax | ,

Request to extend time limits under section 54 to 54GB

KSCAA has requested to Hon’ble Minister of Finance to extend various time limits under section 54 to 54GB of the Income-tax Act, 1961 (the Act). It is requested that various due dates for compliance and completion of specified actions under sections 54 to 54GB of the Act which falls between 20.03.2020 to 30.03.2021 (as against […...

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