Fema / RBI : RBI has launched the Integrated Ombudsman Scheme, 2026, providing a centralized, cost-free mechanism for resolving complaints agai...
Fema / RBI : RBI has updated the FLA Return FAQs, clarifying who must file, the 15 July deadline, revision procedures, and reporting requiremen...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
Company Law : The document clarifies that a director's resignation becomes effective upon receipt by the company or the specified future date, w...
Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...
Corporate Law : MoSPI will introduce the Index of Services Production (ISP) to measure short-term changes in the formal services sector. The month...
Finance : The FAQs clarify the implementation of the IFSCA AML/CFT/KYC Guidelines, covering customer due diligence, reporting obligations, g...
Finance : The IFSCAs updated framework supersedes previous sandbox regulations and establishes a unified regime for FinTech testing in IFSCs...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Fema / RBI : RBI has clarified reporting requirements, valuation methods, submission procedures, and entity obligations under the Portfolio Inv...
SEBI : NSE released detailed FAQs to address practical issues in submitting Quarterly Integrated Filing – Governance reports through XB...
Finance : The circular addresses uncertainty in FLA reporting FAQs under FEMA. It directs institutions to pause action until regulatory clar...
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...
FAQs on Advance Ruling for Unregistered Dealers (FORM GST ARA-01) Q.1 Who can I apply for Advance Ruling? Ans: Application for Advance Ruling can be filed by any person who is registered or is desirous of obtaining registration under this Act on the matters prescribed under the GST Act with payment of the prescribed fee. […]
GST Practitioner is a tax professional who can prepare returns and perform other activities on the basis of the information furnished to him by a taxable person. However, the legal responsibility of such filings remains with the Taxpayer.
Q1. Whether notice is required to be issued to the assessee before initiating survey? No, the section does not require prior notice of the survey to be given to the affected person – N.K. Mohnot v. Dy. CIT [1995] 215 ITR 275/83 Taxman 238 (Mad.). Q2. Which are the authorities empowered to conduct a survey? Section 133A of the Income-tax Act, 1961 empowers the following income-tax authorities to conduct a survey:— (a) Commissioner of Income-tax, (b) Joint Commissioner of Income-tax,
To declare and file claim of ITC prior to registration/ on withdrawal from composition scheme/ on exempt supply of goods/ services becoming taxable on the GST Portal, perform the following steps
Article contains FAQs and Manual on GST TDS and TCS Credit Received. It explains TDS and TCS Credit Received comprises of which tables, Who needs to file TDS and TCS Credit Received, Is it mandatory to file TDS and TCS Credit Received for every tax period, From where can I as a taxpayer file TDS […]
After submitting the GSTR-3B return, I was trying to make payment of the tax and was trying to offset my liability from the Electronic Cash Ledger; however I faced error. On what basis can I utilize the balance in Electronic Cash ledger?
A. FAQs on Comparison of Liability Declared and ITC Claimed General GST Tax Liabilities and ITC Comparison Report Q.1 What is GST Tax Liabilities and ITC Comparison Report? Ans: The GST Tax liabilities and ITC Comparison report is the comparison of liability declared and ITC claimed by the Taxpayer. The Tax Liabilities and ITC Comparison […]
Clarification regarding queries being received in respect of Special cash package equivalent in lieu of Leave Travel Concession Fare for Central Government Employees during the Block 2018-21.
Public Relations Committee The Institute of Chartered Accountants of India 19th October, 2020 PRESS RELEASE ICAI Allows Provisional Registration in CA Foundation Course after passing Class X Examination With an aim to provide high quality education and keeping the future global business competencies in mind, the Institute of Chartered Accountants of India (ICAI) from time-to-time […]
Form GSTR-9C is a reconciliation statement, duly verified and digitally signed by Chartered Accountant/ Cost Accountant. This form is required to be furnished along with filing of annual return in Form GSTR-9, by the taxpayer whose aggregate turnover is above a specified limit, during a financial year.
