Vide Notification No. 31/2021-Income-tax Dated 5th April, 2021 CBDT notifies amendment in Rule 10DA which deals with Maintenance and furnishing of information and document by certain person under section 92D, Rule 10DB which deals with Furnishing of Report in respect of an International Group & Form No. 3CEAB which is Intimation by a designated constituent […]
Chartered Accountants Association, Surat has written a letter to Chairman of Central Board of Direct Taxes and demanded for Timely release of Income Tax Return Utilities and Stopping of Panic Messaging. They also demanded that A suitable and adequate time compensation be provided for the amount of stakeholder’s time lost due to infrastructure failure, so […]
Companies (Audit and Auditors) Second Amendment Rules, 2021- MCA has earlier mandated that Auditor has to report in his Audit report starting from 01.04.2021 that if the Company is maintaining its books of account in a Accounting Software which has a feature of recording audit trail (edit log) facility or not. This report is now […]
It has been decided that the rate of interest on various small savings schemes for the first quarter of FY 2021-22 starting from 01st April and ending on 30th June, 2021 shall remain unchanged from those notified for the fourth quarter (01.01.2021 to 31.03.2021) of the FY 2020-21.
Credit Guarantee Scheme for Subordinate Debt (CGSSD) extended upto 30.09.2021 Government of India announced creation of ‘Distressed Assets Fund- – Subordinate Debt for Stressed MSMEs’ on 13th May, 2020, under the AtmaNirbhar Bharat Package. Accordingly, a scheme viz. ‘Credit Guarantee Scheme for Subordinate Debt’was approved by the Government on 1st June, 2020 and the scheme […]
Extract of section 194Q from Finance Act, 2021 54. Insertion of new section 194Q. After section 194P of the Income-tax Act, the following section shall be inserted with effect from the 1st day of July, 2021, namely:–– Deduction of tax at source on payment of certain sum for purchase of goods. ‘194Q. (1) Any person, […]
FIRST TIME EVER IN A MONTH, INDIAN EXPORTS CROSSED US$ 34 BILLION IN MARCH 2021; INDIA’S MERCHANDISE TRADE: Preliminary Data for March 2021 released; India’s merchandise exports in March 2021 were USD 34.0 billion as compared to USD 21.49 billion in March 2020, anincrease of 58.23%; India’s merchandise imports in March 2021 were USD 48.12 […]
GST e-invoice system, the game changer in the GST system, has successfully completed journey of six months. During this period more than 39.81 Crores e-invoices have been generated by 88,000+ suppliers. There are more than 47 lakh recipients involved in these transactions, who will be receiving Input Tax Credits easily. On 31st March 2021, 37.42 […]
7.12 Crores E-Way Bills in March-2021; Highest in a month during last three years A total of 180.34 Crores of e-Way Bills have been generated in last 3 years E-way Bill system helped government to facilitate monitoring of the movement of essential commodities and medical supplies, during lockdown necessitated by COVID-19 pandemic E-Way Bill System […]
MCA registers 1.55 lakh company incorporations in FY 2020-21, an increase of 27% year-on-year 42,186 Limited Liability Partnerships got incorporated in FY 2020-21, an increase of 17% year-on-year During the Financial Year 2020-21, Ministry of Corporate Affairs (MCA) registered more than 1.55 Lakh company incorporations as compared to 1.22 Lakh companies during FY 2019-20, an […]
