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Archive: 16 August 2021

Posts in 16 August 2021

The Stumble of VI and Its Upshots on Telecom Industry

August 16, 2021 6630 Views 0 comment Print

INCEPTION The Indian telecommunication is now a capacious term bracing its ties in each and every expanse of not only india but in every domain of the world. India is the world’s second-largest telecommunications market with a subscriber base of 1.16 billion and is the venture of investment for the leading telecommunication companies of the […]

AAR Telangana allows Efkon India Private Limited to withdraw application

August 16, 2021 447 Views 0 comment Print

In re Efkon India Private Limited (GST AAR Telangana) In the reference 1st cited, M/s. Efkon India Private Limited, has sought certain clarifications in Advance Ruling. Through the reference 2nd cited, Assistant Commissioner(ST), Punjagutta Circle, were requested to go through the attachment and inform the above pendency of the issue and also requested to offer […]

ICAI notifies revised Regulations 58 – Supplementary Articles

August 16, 2021 3246 Views 1 comment Print

58. Supplementary Articles (1) An articled assistant who has taken leave in excess of the period of leave to which he is entitled under Regulation 59 shall be required to serve for a further period equivalent to the excess leave taken by him.

ITAT deletes adhoc disallowance of advertisement and publicity expense

August 16, 2021 1470 Views 0 comment Print

Goodyear India Ltd. Vs NeAC (ITAT Delhi) Coming to Ground raised by the assessee against the making of adhoc disallowance amounting to Rs.3,52,33,953/- being 30% of the total expenditure of 11,74,46,510/- incurred by the assessee on advertisement and publicity. CIT DR submitted that the AE of the assessee company would certainly be benefitted  by  expenditure […]

Fixed Asset Management Tool with Depreciation Calculator for Companies

August 16, 2021 14640 Views 0 comment Print

Key Features of Fixed Asset Management Tool with Depreciation Calculator for Companies ♦ Line wise SLM and WDV Depreciation as per Companies Act 2013, ♦ Calculation of Depreciation under the Income Tax Act, ♦ Export of Tax Audit Data for Additions and Deletions during the Year ♦ Monthly Calculation for MIS

GSTR-9 and GSTR-9C for FY 2020-21

August 16, 2021 301056 Views 20 comments Print

The government has issued the notifications providing the details for filing of annual return in Form GSTR-9 and reconciliation statement in Form GSTR-9C for FY 2020-21. In its continued endeavor to reduce the burden on small taxpayers, the government has issued Notification No 29/2021-Central Tax, Notification No. 30/2021-Central Tax and Notification No. 31/2021-Central Tax dated […]

Delhi HC stays assessment framed u/s 143(3)/144B

August 16, 2021 2613 Views 0 comment Print

Centum Finance Limited Vs National Faceless Assessment Centre Delhi & Anr. (Delhi High Court) Delhi High Court, in the case of Javin Centum Finance Ltd. vide order dated 12.8.2021, set aside the assessment , which was framed 143(3) r/s section 144B of the Income Tax Act, 1961 on 11.6.2021, on the basis of notices issued […]

Inspection of Statutory Registers by Members | Companies Act, 2013

August 16, 2021 36954 Views 1 comment Print

The Companies Act, 2013, prescribes the maintenance of Statutory Registers by the Companies and lays down the conditions for inspection and providing extracts of registers/ returns to members. The provisions pertaining to the same are elaborated below: Register of Investments: Section 187(3) “Where in pursuance of clause (d) of sub-section (2), any shares or securities […]

Manipulator or Not? Beneish Model

August 16, 2021 1911 Views 0 comment Print

Beneish Model is the statistical method to calculate the trend in the organisation through various ratios. Through beneish model, one can find the various areas where chances of financial manipulation are higher. The Beneish Model uses eight financial ratios to understand the financial position and areas for manipulation. Formula (M) = -4.84 + 0.92*DSRI + […]

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