"01 June 2022" Archive

IBBI (Engagement of Research Associates & Consultants) (Amendment) Regulations, 2022

Notification No. IBBI/2022-23/GN/REG083 01/06/2022

These regulations may be called the Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) (Amendment) Regulations, 2022....

Tax Credit Mismatch ? Steps to rectify

In case where assessee incorrectly entered the details of the taxes paid, then he/ she will get the Tax credit Mismatch Notice under Section 143 (1) (a) Procedure to rectify the same in the New Income Tax Portal Step 1 : After Login to the Income tax Portal, go to “Service” → “Rectification Step 2 […]...

Posted Under: Corporate Law |

Applicability of TDS under Section 194R from 01/07/2022

Analysis of Section 194R of Income Tax Act, 1961 which relates to TDS on benefits or perquisite and is applicable with effect from 01.07.2022.  APPLICABILITY:  To all assesse (other than Individual & HUF) And Individual & HUF (having Business Aggregate Turnover above Rs. 1,00,00,000 or in case of Profession Professional receipt ...

Posted Under: Corporate Law |

Tax on Cryptocurrencies in India

As we deep dive into taxation of cryptocurrency in India, and we need to be clear in our minds that the government on the one hand has given legitimacy to the transaction in VDA’s and on the other hand it has treated them at par with casual Income i.e. taxing at a maximum applicable rate […]...

Posted Under: Corporate Law |

Master Direction – Reserve Bank of India (Variation Margin) Directions, 2022

RBI/2022-23/93 FMRD.DIRD.02/14.01.023/2022-23 01/06/2022

Provisions of Master Direction – RBI (Variation Margin) Directions, 2022 shall apply to contracts, entered into on or after the date on which these Directions come into force...

Shri Ashwani Bhatia takes charge as Whole Time Member, SEBI

Press Releases No. 18/2022 01/06/2022

Shri Ashwani Bhatia took charge as Whole Time Member, Securities and Exchange Board of India, in Mumbai, today. Prior to this assignment, Shri Bhatia held the position of Managing Director in State Bank of India....

Addition of 6% tax rate in GSTR-1 online

PRess Release No. 543 01/06/2022

It may be noted that 6% tax rate has been added in the item details section of all the tables of form GSTR-1, except HSN table 12. In case your outward supplies attracts 6% tax rate, you are required to upload the details against 6% tax rate in the item details section. In respect to […]...

Rescheduled Dates For CA Examination At Silchar (Assam)

ICAI announces Rescheduled Dates For CA Examination At Silchar (Assam) Examination Center Only which were scheduled from May 19th to 21st, 2022 but got postponed....

Posted Under: Corporate Law |

GST Revenue collection for May 2022 increases 44% year-on-year

The gross GST revenue collected in the month of May 2022 is ₹1,40,885 crore of which CGST is ₹25,036 crore, SGST is ₹32,001 crore, IGST is ₹73,345 crore (including ₹ 37469 crore collected on import of goods) and cess is ₹10,502 crore (including ₹931 crore collected on import of goods)....

Posted Under: Corporate Law |

जीएसटी के 5 साल – उम्मीद बनाम उपलब्धियां

जीएसटी को भारत में लगे इस समय 5 वर्ष होने को आये हैं तो आइये यह एक समय है कि देखें कि इस अवधि में जीएसटी उन लक्ष्यों को प्राप्त कर सका ...

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