"05 June 2021" Archive

Empanelment -Indian Overseas Bank for Concurrent Audit 2021-22

INDIAN OVERSEAS BANK invites application from eligible Chartered Accountant firms for assignment of Concurrent Audit in the prescribed format available on our website https://www.iob.in/tenderlist.aspx. ...

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Posted Under: CA, CS, CMA |

Chart of Late fee waiver for delay in filing Form GSTR-3B returns

The Government, vide Notification No. 19/2021, dated 1st June, 2021, inter alia, has waived the late fee payable, in excess of amount as specified in the Tables, as given below: (Note: Please refer to respective State/UT Notifications for waiver of State/UT tax). A. For the registered persons who have failed to furnish the return in F...

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Posted Under: CA, CS, CMA |

Chart of Waiver of GST interest & late return filing fee

Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part 1 & Part 2) Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Qtrly) & composition taxpayers for the tax periods of March, April & May, 2021, vide Notn. N...

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Posted Under: CA, CS, CMA | ,

14 Key Income Tax Changes effective from 1st April 2021

Key Changes in the Provisions of Income Tax Act, 1961 effective from 1st April 2021 and onwards The Finance Bill, 2021 received the assent of honourable President of India on 28th March, 2021 upon which it came to be known as the ‘Finance Act, 2021’. Like every year, this year also numerous amendments have come up […]...

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Posted Under: CA, CS, CMA |

Appeal to ICAI to review decision for holding of exam in Pandemic

Covid 19 is not over yet and the more deadly second wave of Covid-19 is unexplained and unpredictable in terms of human loss. Before coming to the student's issue, it a matter of great relief that the questions raised through my open letter to your good office regarding benevolent fund are taken care of and hopefully, Benevolent Fund is g...

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Posted Under: CA, CS, CMA |

GST, Income Tax, DGFT, FEMA, Customs Updates dated 05.06.2021

During the ongoing pandemic of COVID 19, various States are again imposing restrictions, curbs and curfews to restrict interaction as a measure to stop spread of the disease. Fortunately, various measures undertaken by government till now are bringing positive results and in the past few days there is a gradual reduction in number of dail...

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Posted Under: CA, CS, CMA |

Instructions for filling ITR-3 For A.Y. 2021-22 | F.Y. 2020-21 | Part II

Annexure 1 Important points to remember while filing return of income in ITR utility for ITR-3 (online or offline) Validation Rules The validation process at e–Filing/CPC end is to be carried out for ITRs based on the category of defect. Category A defect are the defects, wherein return will not be allowed to be uploaded […]...

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Posted Under: CA, CS, CMA |

Instructions for filling ITR-3 For A.Y. 2021-22 | F.Y. 2020-21 | Part I

Instructions to Form ITR-3 (A.Y 2021-22) Instructions for filling out FORM ITR–3 These instructions are guidelines for filling the particulars in Income-tax Return Form-3 for the Assessment Year 2021-22 relating to the Financial Year 2020-21. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and t...

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Posted Under: CA, CS, CMA |

Income Tax Returns (ITR)- Comprehensive Guide

What is ITR: ITR stands for Income Tax Return. The Income Tax Act, 1961 governs all the ITR forms and procedures to be followed. This article gives an in-depth understanding of the ITR definition and types of ITR forms. Income Tax Return (ITR) is a form in which the taxpayers file information about their income […]...

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Posted Under: CA, CS, CMA |

FM meets heads of insurance companies for faster claim settlement

Ministry of Finance Finance Minister Smt Nirmala Sitharaman meets heads of insurance companies for faster claim settlement FM emphasizes for streamlining  process and documentation requirements under the schemes for enabling speedy claims  disbursement Under PMJJBY1.2 lakh claims ofRs. 2,403 crore paid with disposal rate of 99% since 1s...

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Posted Under: CA, CS, CMA |

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