"05 February 2021" Archive

Director of a company arrested for non deposit of GST

 Press Release by CGST Delhi South Commissionerate regarding arrest of a Director of a company under CGST Act, 2017 for non deposit of Rs. 24.96 crores of GST collected but not paid OFFICE OF THE PRINCIPAL. COMMISSIONER OF CENTRAL GOODS & SERVICE TAX, DELHI SOUTH COMMISSIONERATE, 3rd FLOOR, EIL ANNEXEE  BUILDING, BIKAJI  KAMA PLACE...

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Due Date Compliance Calendar February 2021

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 linking of [&he...

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Employee contribution to PF allowable on Payment before due date

Budget 2021- Payment by employer of employee contribution to a fund on or before due date Clause (24) of section 2 of the Act provides an inclusive definition of the income. Sub-clause (x) to the said clause provide that income to include any sum received by the assessee from his employees as contribution to any […]...

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ETMONEY– Helping You Reduce your income tax and get financially fitter at the same time

Wealth isn’t created in a day, it takes time and all of it begins with saving money. Hence, it’s very crucial to pursue every effort for saving your hard-earned money and the steps you choose define your overall wealth portfolio. One way to save money is using tax-saving deductions for reducing the tax burden. Lesser […]...

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ITR 7 Guidance Note issued by CPC Bengaluru

Dear Professional Colleague, Sub: ITR 7 Guidance Note issued by CPC Bengaluru The Centralized Processing Center, Bengaluru has conducted an exclusive Webinar on ITR-7 for A.Y 2020-21 on 17.12.2020 from 04.00 PM to 05.30 PM for the benefit of Chartered Accountants, Tax Practitioners & Taxpayers. The following topics were covered du...

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GSTR-9 & GSTR-9C Reporting Requirements for FY 2019-20

Recently financial budget 2021 has proposed to omit the provision section 35(5) and amend the section 44 of CGST Act, 2017. After acceptance of bill by president of India GST audit need not to file. Recently CBIC clarified through retweet on tweeter that ‘Section 35 and 44 of CGST Act are proposed to be amended […]...

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Analysis of Union Budget 2021- Direct Tax, GST, Company Law & Customs

On 1st February 2021, the Finance Minister Nirmala Sitharaman presented the Union Budget 2021-22 in parliament. This year’s budget rests on 6- Health and Wellbeing, Physical and Financial Capital and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D, and Minimum Government...

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Budget 2021-2022 minimizes Regulatory Compliance Burden

Release ID: 1695476

Budget 2021-22 has proposed various measures to reduce regulatory compliance burden which will improve ease of doing business for industry and ease of living for citizens....

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Not filing Income Tax Returns? Now pay Double TDS

This write uptakes note of changes proposed with regard to some of the TDS /TCS provisions applicable from 1st July, 2021. In the Union Budget 2021 there has been made a proposal to charge higher TDS and TCS on non-filers of income tax return (ITR). This is done to put off the practice of not filing […]...

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Gratuity Payment under Social Security Code 2020 wef 01.04.2021

Difference Between Statutory Provisions Applicable To Companies Under Existing Payment Of Gratuity Act 1972 (Amended) & Social Security Code, 2020 To Be Effective From 01.04.2021 This article is an attempt to elaborate the difference between Statutory provisions applicable to Companies under Existing Payment of Gratuity Act 1972 (Amen...

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