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Interest calculator in GSTR-3B is now live on GST Portal

January 26, 2022 12177 Views 1 comment Print

Deployment of Interest Calculator in GSTR-3B 1. The new functionality of interest calculator in GSTR-3B is now live on the GST Poral. 2. This functionality will facilitate & assist the taxpayers in doing self-assessment. This functionality will arrive at the system computed interest on the basis of the tax liability values declared by the taxpayers, […]

Introduction of online PAN verification functionality in Finacle CBS System

January 25, 2022 12948 Views 0 comment Print

At present, in Finacle CBS System, the PAN Card of the Depositors are updated as part of KYC compliance. The PAN Card entered in the system is validated only based on the standard PAN format i.e. 10 ALPHA Numeric Characters. But the correctness of the PAN card numbers provided by the Depositors or the PAN entered by the Post Office officials are not validated with NSDL currently.

Delhi Govt fixes maximum price for RT-PCR COVID19 test at Rs. 300

January 22, 2022 3150 Views 0 comment Print

Conventional RT PCR Test wherein samples are collected by Private lab teams for Government and processed further at their lab and Conventional RT PCR Test wherein individual gives their samples at the Labs/Private Hospitals/Collection facilities for paid testing at their own expense (including all charges-sample collection & testing cost at the site)  

Cryptocurrency: Tax-man’s Perspective

January 22, 2022 2418 Views 0 comment Print

Ripple started in 2009 when Satoshi Nakamoto (pseudonym) published his research paper titled ‘Bitcoin: A Peer-to-Peer Electronic Cash system’. Abstract explains ‘A peer-to-peer electronic cash system would allow online payments to be sent directly from one party to another without going through a financial institution’. We usually refer to this system as ‘Decentralized Finance’ or […]

Verification of Marks of CS Foundation Examinations- December 2021

January 21, 2022 6837 Views 0 comment Print

In terms of Regulation 42 (2) of the Company Secretaries Regulations, 1982 as in force, a candidate may apply for ‘Verification of Marks’ in any subject(s) of CS examination within 21 days from the date of declaration of his/her result. The interested candidates can apply for verification of marks either through on-line or off-line mode as per prescribed procedure with requisite fee @ Rs. 250/- per subject.

ICAI Act should mandate members to disclose any criminal cases/conviction on periodical basis

January 21, 2022 7158 Views 0 comment Print

Mohit Bansal Vs Institute of Chartered Accountants of India (Delhi High Court) Facts- The petitioner was enrolled as CA on 25th January 2008. After his enrolment, vide judgement dated 23rd September 2009, the petitioner was convicted by the Trial court for the offences punishable under section 376(2)(g) read with Explanation I and section 506-II of the […]

RBI issues regulations under amended Factoring Regulation Act, 2011

January 20, 2022 1554 Views 0 comment Print

RBI issues regulations under the amended Factoring Regulation Act, 2011 Government of India has recently amended the Factoring Regulation Act, 2011 (the Act) which widens the scope of companies that can undertake factoring business. The Act permits Trade Receivables Discounting System (TReDS) to file the particulars of assignment of receivables transactions with the Central Registry […]

Taxability of Cryptocurrency

January 20, 2022 6249 Views 0 comment Print

Cryptocurrency is a virtual currency based on blockchain technology, which enables a peer to peer network without the intervention of a centralized agency. Cryptocurrency gained popularity with the introduction of Bitcoin by a programmer under the name Satoshi Nakatomo. Bitcoin gained significance in light of the collapse of the financial system which culminated in the Great Recession.

ICAI Campus Placement Programme for Newly Qualified CAs

January 20, 2022 50611 Views 2 comments Print

Registration for December, 2021 (November 2021 cycle) pass out candidates begins on 15th February’22 and will end on 21st February’. Candidates who passed out prior to December, 2021 (November 2021 cycle) but could not apply in regular campus due to certain reasons, specified below, are now eligible for February-March’22 campus and their online registration begins on 1st February’.

CESTAT directs Re-determination of Service Tax on Renting of Stall to Hawkers by Municipality

January 17, 2022 2511 Views 0 comment Print

Mira Bhaindar Municipal Corporation Vs Commissioner of CGST & Cen. Excise, Thane (CESTAT Mumbai) The crux of the submissions made by the appellant who is a  Municipal Corporation is that  these services (Ground rent market/ sports ground rent, Permitted Stall ground Rent, BOT Lease Rent, Blood bank and Mandap Services)  rendered by them are mandated […]

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