The Income-tax department requires companies to submit a statement of Specified Financial Transactions (SFT). SFT reporting is mandatory for certain reporting entities from Finance Act 2014 by introducing section 285BA followed by additions made in Finance Act 2020 through notification no. 16/2021, dated 12-03-2021. This article focuses on SFT reporting which is applicable to the companies and documents require for reporting such transactions.
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 […]
NOMINATION…. WHAT.. WHO.. WHY.. HOW MANY…? Every time you fill up a form for an investment or opening a new bank account, there will be a separate section that will ask you to mention a ‘Nominee’. Even if you are joining the job, the HR will ask you to fill the Nominee Form or if […]
Now a days, taxpayers are in dilemma, how to pay service tax/central excise arrears that are coming now on account of past assessments, adjudications. It is seen many a times now, taxpayers are asked to deposit arrears on GST portal using DRC-03 challan, but this is not the correct procedure of making payment since this […]
FDI (Foreign Direct Investment) Policy in India in the last decade has become very liberal and encourage foreign investment. There are many entry modes by which a foreign company can establish an entity in India. The choice of business form entirely depends upon the end goals to be achieved. There are majorly 3 options for […]
भारत सरकार के उद्योग संवर्धन और आंतरिक व्यापार विभाग द्वारा मंगलवार को नई ई-कामर्स नीति पर विभिन्न हितधारकों के साथ एक वर्चुअल मीटिंग का आयोजन किया गया ताकि सभी से आने वाली ई-कामर्स नीति पर सुझाव लिए जाए सकें. इस मीटिंग में जहाँ एक ओर एमाज़ॉन, फ्लिपकार्ट, टाटा, रिलायंस, उड़ान, पिपरफ्राई और स्नेपडील, आदि के […]
Corporate governance as per ICSI is ‘the application of best Management Practices, Compliance of Laws in true letter and spirit and adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders.’ In order to incorporate better governance standards NSE has come up with […]
The Developed countries provide for Social Security for it’s Citizens. The citizens who spend their whole life in the service of the country & the society after long hard work do need Social Security. In our country, those in Government & Semi Government jobs get social security through various Government schemes while in service and […]
Appointment of First Auditor in Private Company Section Attracts -139(6) of the companies Act 2013 Time Limit for Appointment– within 30 days from incorporation of the Company Accounts Audit: From the date of Incorporation till the date of end of Financial Year. Hold Office: Till the Conclusion of First Annual General Meeting. Way of Appointment […]
GSTR-3B─Return notified subsequent to Judgment of Gujarat HC to nullify Judgment─No analysis of this crucial aspect by the Apex Court The Hon’ble Supreme court in the case of Union of India v. AAP And Company (2021) 36 J.K.Jain’s GST & VR 519, overruled the judgment dated 24.6.2019 of Hon’ble Gujarat HC : AAP and Co. […]
