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...
Valuation Standards Board, ICAI ICAI- Release of Answers to the Questions (ATQ’s) raised during the Live Webcast on “Valuation and Valuation Standards Compliance and other aspects under various Laws” on 19th April, 2020 We are happy to inform you that Valuation Standards Board of ICAI (VSB) had organised a live webcast on Valuation and Valuation […]
Section 269SU has been introduced by the government under Income Tax Act with an intention to promote cashless economy and digital mode of accepting payment. Section 269SU prescribes for accepting payment through certain electronic modes as prescribed in addition to other electronic modes. This article is a detailed discussion on Section 269SU alongwith various practical […]
FREQUENTLY ASKED QUESTIONS Reduction in statutory rate of EPF contribution from 12% to 10% Q 1. What is revised rate of EPF contribution announced by the Central Govt. under Atmanirbhar Bharat package? Ans. Under this package the statutory rate of EPF contribution of both employer and employee has been reduced to 10 percent of basic […]
What is Nidhi Company? A Nidhi Company is a Company which carries on the business of accepting deposits and lending the same on demand. Nidhi Company is similar to NBFC but the only basic difference between the two is that Nidhi Companies accept deposits only from its members. The main aim of these companies is to work […]
Article explains Eligibility for claiming rebate u/s 87A, ITR form applicable for LIC agent, How to file return of income, Can total deductions exceeds the Gross Total Income (GTI), Need to file Income Tax Return when all taxes been paid in advance and What to do when TDS has been deposited under wrong PAN. 1. […]
Q.1: How do I know if I require a PF transfer? Ans. If the member has more than one PF member IDs (MIDs) and the PF amount of these MIDs has not been transferred into the latest MID, member is required to get his PF transferred into his current MID. Q.2: What are the types […]
Q.1: Why is it necessary to have DSC/e-Sign? Ans. Many important tasks like KYC attestation, transfer claim attestation etc are done online by the authorized persons of employer using their digital signatures or Aadhaar based e-Sign on EPFO portal. This ensures seamless online service to members. Q.2: What role does EPFO plays in use of […]
In this period of economic difficulties, it is imperative for each business to evaluate possible measures to reduce the cost. One should closely look at all expenditure where input tax credit has not been taken in the past to evaluate if there exist possibilities of availing due to change in the law or judicial developments.
While the high quality Ind AS Framework has comprehensive and robust accounting principles, a need was felt to provide application guidance in certain areas of accounting in the form of Frequently Asked Questions (FAQs) in the context of contraction in economic activity, disruptions in financial markets and a series of actions by government, monetary and prudential authorities. I
Timely and effective communication between the management and the auditor is essential in ensuring that both are able to fulfil their respective responsibilities in relation to going concern aspect during these uncertain times.
