Guidance Notes on How to rectify Common mistakes in furnishing data through Form GSTR-1 & Form GSTR-3B under GST Act, 2017 Dear Professional Colleagues, Good Day to you. Today I am providing my guidance Notes on rectifications of mistakes in furnishing the data through Form GSTR-1 & Form GSTR-3B under GST Act, 2017. I have […]
The Prevention of Money Laundering Act, 2002 (the Act) deals with not only attachment of property derived or obtained, directly or indirectly as a result of criminal activity relating to a scheduled offence but also with the attachment of the property legitimately acquired by accused as equivalent value if ‘proceeds of crime’ is not traceable. […]
Every Person engaged in food Business (whether it be a restaurant business, manufacturing business, trading business or repacking/ relabelling business) must obtain a 14 Digit FSSAI Registration or Licence Number under FOOD SAFETY AND STANDARDS ACT, 2006
Dewan Housing Finance Corporation Ltd (DHFL) is a Housing Finance Company focussed in Tier-II/III cities with a loan book of more than 90,000 Crore, which was once the 2nd largest lender in this segment (after HDFC) has faced lot of challenges on account of irregularities in operations followed by RBI suspending Board of Directors and initiating CIRP process.
1.0 Background: All supplies made to unregistered persons or consumers are referred to as B2C transactions. B2C invoices are those invoices where the end-user will not be claiming input tax credit (ITC). CBIC vide Notification No. 14/2020-Central Tax directs all taxpayers with an annual turnover of more than Rs.500 crore in any preceding financial year […]
Understand the new tax provisions u/s 206AB and 206CCA of the Income Tax Act 1961. Learn how these sections affect non-filers and ensure compliance.
As per Section 2(15), of the Income Tax Act 1961 ‘charitable purpose’ nclude relief of the poor, education, yoga, medical relief, preservation of environment ( including watersheds, forests and wildlife) and preservation of monuments or places or objects’ of artistic or historic interest, and the advancement of any other object of general public utility. Thus […]
Arjuna (Fictional Character): Krishna, Finance Act 2021 introduced a new section 194Q for TDS on Purchase of goods which will be effective from 01.07.2021. Krishna (Fictional Character): Arjuna, in the previous year a new provision of TCS was introduced on the sale of goods from 01/10/2020 and now a provision of TDS on purchase of goods […]
Every year, all Companies have to conduct at least 4 meetings of its Board and 1 meeting of its Members called Annual General Meeting. These meetings can be conducted either in physical mode or in Video Conferencing/Other Audio Visual Means mode. Earlier, there were restrictions on certain agenda items to be discussed in the Board […]
The Government vide the Notification No 14/2020 – Central Tax dated 21st March 2020 made it mandatory for taxpayers with aggregate turnover exceeding INR 500 crores to mention Dynamic QR code on B2C invoices. However, the Government vide Notification No 6/2020 – Central Tax dated 30th March 2021 waived off the penalty for non-compliance with […]
