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...
Each family in India has at least one family which is resident outside India. Previously, the number of transactions between a resident and non-resident were limited but with growing number of family members now settling outside India, there is a tremendous increase in inflow and outflow of money between the two. This has made the tax department savvier and it has been increasingly important for both, resident as well as non-resident, to stay updated with fundamental rules and regulations.
Tokenisation refers to replacement of actual card details with an alternate code called the token, which shall be unique for a combination of card, token requestor and device (referred hereafter as identified device).
Employees’ Provident Fund Organization, India, Ministry of Labour & Employment, Government of India has issued FREQUENTLY ASKED QUESTIONS ON EPF ADVANCE TO FIGHT COVID-19 PANDEMIC Dated 26/04/2020. FAQ’s ON EPF ADVANCE TO FIGHT COVID-19 PANDEMIC Q1: What is the process for change in name on marriage of a woman member against UAN when changes are […]
When you supply goods on High Seas Sale basis, it will remain an exempt supply – also a non-taxable supply. Once this is so, you will get no input tax credit for inputs, input services and common input services and if you have claimed, it will have to be reversed u/s 17 of CGST Act.
Q 1. Whether a Firm of Chartered Accountants can accept Audit of a branch of a bank, while one of the partners of the said Bank have taken loan from a different branch of the Bank ? Ans. No, the Firm of Chartered Accountants cannot accept branch Audit of the Bank if one of the partners have taken the loan from any branch of that bank. The members should not place themselves in position which would either compromise or jeopardize their independence.
Half-yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprise Q.1 Form for filing the return in respect of outstanding payments to Micro or Small Enterprise? Ans: MSME Form I Q.2 What is the frequency of Reporting? Ans: Half Yearly Q.3 What is the Last Date of Filing the return? […]
Entities (both corporate and non-corporate deductors) making payments (specified under Income Tax Act) to third parties (deductees) are required to deduct tax at source (Tax Deducted at Source -TDS) from these payments and deposit the same at any of the designated branches of banks authorised to collect taxes on behalf of Government of India. They […]
Annual Information Return (AIR) of ‘high value financial transactions’ is required to be furnished under section 285BA of the Income-tax Act, 1961 by ‘specified persons’ in respect of ‘specified transactions’ registered or recorded by them during the financial year. The due date of filing of the return is the 31st of August of the following […]
Where the applicant is providing services to the Government and Government aided schools by building his own infrastructure under a particular project, will there be a GST exemption?
Definition: Import of Services Section 2(11) of IGST Act 2017 defines Import of Services as follows: Import of services means the supply of any service where- (i) The supplier of service is located outside (ii) The recipient of service is located in India; and (iii) The place of supply of service is in India; To […]
