Corporate Law : Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, t...
Fema / RBI : The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with fle...
Company Law : The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% addition...
Goods and Services Tax : IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility ...
Income Tax : The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value,...
Finance : The Authority clarifies application process, operating models, service limits, and compliance obligations under the new GIC Regula...
Corporate Law : The India–European Union Free Trade Agreement (FTA) is a comprehensive pact covering trade in goods, services, rules of origin, ...
Corporate Law : The ruling clarifies that digital processes are encouraged but not mandatory, ensuring workers rights are protected even through p...
Company Law : The law removes sector-based exclusions and extends minimum wage protection to all employees. It confirms universal coverage acros...
Corporate Law : The FAQs explain the uniform wage definition and the 50% allowance cap across all Codes. Gratuity applies prospectively from 21 No...
Corporate Law : FSSAI introduced perpetual licenses and simplified registration norms to ease compliance. The reforms reduce costs while maintaini...
SEBI : FPIs can now apply for Digital Signature Certificates directly within the CAF portal. The move simplifies onboarding and reduces p...
Goods and Services Tax : GSTN has clarified key issues on filing annual returns through consolidated FAQs. The guidance explains ITC reporting, auto-popula...
Goods and Services Tax : ITC availed for FY 2023-24 but reversed or claimed in FY 2024-25 must be reported in Table 6A1 of GSTR-9. Reversals from prior yea...
SEBI : The notice outlines detailed guidance on filing financial results under Regulation 33, covering timelines, disclosure norms, and r...
As per Para 2.1, the compliance function is expected to ensure compliance to all applicable statutory provisions, apart from other rules, regulations and code of conducts. As different groups/departments in the banks are responsible to ensure compliance to different statutory requirements, what would be the exact expectations from the compliance functions?
A new scheme for return filing under GST for small taxpayers has been introduced, due to which there is a lot of confusion among taxpayers about what they have to do, what they can’t do, how they will pay taxes, when they have to file returns etc. In these FAQs, I have tried to answer a […]
Rule 86B has undergone severe criticism from various stakeholders ever since the same has been notified by the Government. It puts a restriction on the amount which can be used from the electronic credit ledger while making the payment of output taxes. Through this article, the author purports to analyze the provisions and its practical […]
Q 1. What is the intent behind introduction of Form PAS-6? Ans: The key purpose of Form PAS-6 is to undertake reconciliation of number of securities issued (share certificate / demat credit) matches / does not match with issued / paid-up capital. It attempts to ensure that there is no excess credit of securities as […]
Life is full of uncertainties. The only aspect of life that we can be truly certain about is death. When a person dies, then many things need to be considered by family members like filing of insurance claims, getting legal heir certificate, transfer of properties in the name of legal heir , filing of nomination claims […]
SEBI has informed the Exchange that there have been few queries received from market participants seeking clarification with regard to SDD. To address these queries, FAQs as per Annexure I are being issued.
It’s been almost four months for the implementation of Section 206C (1H), but still, a lot of confusions are there in the mind of taxpayers. Here, an effort has been made to share my knowledge with all of you which could help to clear the mist of confusions. Q.1 When the TCS should be collected […]
MCA has emerged with a Scheme on March 30, 2020, for all type of companies to file their forms even after the due date without any additional fees till December 31, 2020. There existed a condition with the scheme that after the completion of the Scheme, the Companies shall file the e-form CFSS with the […]
ICAI releases E-book containing Frequently Asked Questions (FAQs) on Limited Liability Partnership Act, 2008 The Limited Liability Partnership (LLP) Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India, unlike the general partnerships in India. The Act was notified on 31st March 2009. It provides an […]
CPC Handbook For Tax Consultants/Taxpayers – November 2020 Centralized Processing Center, Bangalore has prepared a handbook in order to provide guidance to taxpayers and taxpayers’ representatives regarding e-filing of returns, processing of returns, issue of refunds, validation of bank accounts, filing of rectification applications and various other connected topics. The answers to the Frequency Asked […]
