CBDT issues clarification on section 194Q and interplay of Section 194Q, 206C(1H) AND 194O vide Circular No. 13 of 2021-Income Tax | Dated: 30/06/2021 Thought the clarifications are welcome but are issued at 11th hour. Just to recall, when the TCS provisions u/s 206C(1H) were made applicable from 01st October 2020, similar clarifications were issued […]
All you need to know about the new rules in TDS/TCS, effective from July 01, 2021 The FINANCE ACT 2021 has introduced two new changes in rules relating to Tax deducted at source (TDS) or Tax collected at source (TCS). A. Higher TDS/TCS rate for non-filer of income-tax returns. Until now, a higher TDS rate […]
Relaxation of Additional Fee for certain Forms for Companies/LLP MCA relaxes levy of additional fees in filing of certain Forms under the Companies Act, 2013 and LLP Act 2008 vide General Circular no 06/2021 and 07/2021 dated 3rd May 2021 and amended the same as on 30.06.2021 vide following Circulars- MCA Relaxes time for filing forms […]
Further relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 during Financial Year 2021-22 The Ministry of Corporate Affairs (‘MCA’) vide General Circular No. 12/2021 dated 30.06.2021 has further extended the time given under earlier General Circular No. 07/2021 dated 03.05.2021. By General Circular No. 11/20121 […]
The registered office of a company is the address of the company in the register of the company maintained by the registrar of companies (ROC). As per section 12 of the companies act, it is mandatory to maintain the registered address of the company, which should be a physical address capable of receiving official communication […]
Explore the concept of Actuarial Risk in insurance. Learn how actuaries manage risk and uncertainty, estimating factors like mortality, morbidity, and burning costs. Dive into IRDAI regulations governing appointed actuaries, their duties, and powers. Discover key factors influencing actuarial risks, including product risk, mortality risk, morbidity risk, burning costs, pricing risk, and solvency risk. Understand the importance of accurate assumptions in risk estimation for successful insurance product development.
July 1 will be the CA day just like every year. The Institute of Chartered Accountants of India (ICAI) will celebrate the 73rd Anniversary of its foundation on this day. Interestingly, the Virtual National CA summit 2021 shall be organised from June 29 to July 1, 2021. And Surprisingly, in a vast and overpopulated country […]
Section-194Q ( TDS On Purchase of Goods)-CBDT Clarification vide Circular No. 13 of 2021-Income Tax dated: 30th June 2021 1) Clarification on TDS U/s-194Q on GST Component involved in Purchases TCS U/s-206C (1H) was collected on Consideration received inclusive of GST because TCS Collection event under this section is “Receipt of Payment”. However for TDS […]
NPPA invokes extra ordinary powers in public interest under para 19 of DPCO 2013 for upward revision of the ceiling prices of the nine scheduled formulations of 3 drugs by giving one time increase of 50% from the present ceiling price.
Compliance Due date calendar for July 2021 which contains Compliance Required, Applicable for which compliance is required and Due Date or Extended due date for Compliance Serial No Particulars Applicable Period/ Month/ Year Due Date/ Extended Date 1 GST 3B for AAT below 5 crores April 2021 04.07.2021 2 GST 3B for for AAT above […]
