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Archive: December, 2021

Posts in December, 2021

All about filing of eForm CRL-1

December 1, 2021 17874 Views 1 comment Print

CRL – 1 –Form for Information to the Registrar by company regarding the number of layers of subsidiaries Part I – Law(s) Governing the eForm Every company other than certain exempted class of companies, which has number of layers of subsidiaries in excess of the layers specified in the Companies Act 2013 shall file a […]

All about filing of eForm DIR-3C

December 1, 2021 13338 Views 0 comment Print

Intimation of Director Identification Number By Company To Registrar | DIN Services | eForm DIR-3C Part I – Law(s) Governing the eForm DIR-3C Rule Number(s) eForm DIR-3C is required to be filed pursuant to Section 157 of the Companies Act, 2013 & Rule 10A (2) of the Companies (Appointment and Qualification of Directors) Rules, 2014 […]

Statutory Tax Compliance Calendar for December, 2021

December 1, 2021 7836 Views 0 comment Print

This Article contains compliance requirement under various statutory Act for which due date falls in the month of December, 2021. The due dates are very crucial for compliances of statutory provision under various act in order to avoid penalty, interest or late fee I. Compliances under Income Tax Act Due Date Applicable Form Applicable Period […]

Slump sale: Provide relief from unintended adverse impact of Rule 11UAE

December 1, 2021 11616 Views 0 comment Print

Seeking relief from Rule 11UAE impact on slump sale transactions? Learn how BCAS made a representation to CBDT for a solution.

Non-current Liabilities with Covenants – Proposed amendments to IAS 1

December 1, 2021 1173 Views 0 comment Print

IAS 1 Presentation of Financial Statements requires that, for an entity to classify a liability as non-current, the entity must have the right at the end of the reporting period to defer settlement of the liability for at least 12 months after the reporting period (right to defer settlement).

Supplier Finance Arrangements – Proposed amendments to IAS 7 & IFRS 7

December 1, 2021 2145 Views 0 comment Print

The IFRS Interpretations Committee (IFRS IC) considered a question about the information an entity is required to provide in its financial statements about supply chain finance (reverse factoring) arrangements.

Life insurance and income tax laws

December 1, 2021 10059 Views 1 comment Print

Indian income tax laws provide for certain tax benefits in respect of life insurance premium paid on life insurance policies as well as for money received from insurance companies in respect of such insurance policies. Let us discuss these provisions. Tax benefit in respect of premium paid for life insurance policies As per Section 80C […]

Exporters To-Do List : RoDTEP/Agri-TMA & Foreign Trade Policy

December 1, 2021 7329 Views 1 comment Print

The following process would be followed for RoDTEP (i) Exporters to register their IEC on ICEGATE with a DSC. (ii) To avail the scheme exporter shall make a claim for RoDTEP in the shipping bill by making a declaration. (iii) Once EGM is filed, claim will be processed by Customs. (iv) Once processed a scroll with all individual Shipping Bills for admissible amount would be generated and made available in the users account at ICEGATE

ITAT directed AO to delete the additions made on account of capitalization of royalty expenses as they were revenue in nature

December 1, 2021 1254 Views 0 comment Print

ITAT Directed AO to delete addition on account of capitalisation of royalty expenses by holding it to be revenue in nature as the assessee did not acquire any new asset or any new enduring benefit from it.

CBIC clarifies on Import of Sajji Khar/ Pappad Khar

December 1, 2021 3996 Views 0 comment Print

It is stated that imported consignments of Sajji Khar/Papad Khar does not require product approval under FSS (Approval of non-specified food and food ingredients) Regulations, 2017 and these may be considered as food not specified till standards are notified by FSSAI.

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