Q 1. What is the intent behind introduction of Form PAS-6? Ans: The key purpose of Form PAS-6 is to undertake reconciliation of number of securities issued (share certificate / demat credit) matches / does not match with issued / paid-up capital. It attempts to ensure that there is no excess credit of securities as […]
The COVID-19 pandemic not only had an effect on our financial security but also on our physical and mental wellbeing. The period has taught us some lessons for life, and none better than the importance of saving and investing for emergency crisis. We need money to start investing, true. But we do not need to […]
A recent judgment by ITAT Mumbai in the case of Maria Fernandes Cheryl has stirred the Indian income-tax universe again with its intriguing take on retroactive operation of amendments in Income-tax Act, 1961
The Union Budget 2021 presented by Finance Minister Nirmala Sitharaman on February 1, 2021. Union Budget 2021 is going to be completely paperless in the wake of going Corona virus pandemic. The Cabinet Committee on Parliamentary Affairs has recommended that the budget session of Parliament is to be held in two phases. This would be […]
1. OBJECTIVE The aim of this SOP is to lay down necessary directives for the smooth and efficient administrative functioning, handling/ operating funds, functioning of Finance & Accounts Department and to ensure that Statutory compliances are made in the following areas: a) Delegation of Authorities and Financial Powers b) General accounting and bookkeeping procedures c) […]
Why government needs to introduce a separate Section for repayment of home loan in ensuing budget With the skyrocketing prices of real estate, it is almost impossible for a young couple for buy house of their own without taking a home loan. The average ticket size home loan has also gone up steadily in the […]
Gujarat HC: Directed Revenue to unblock ex-Director’s ITC to recover Company’s VAT dues The Hon’ble Gujarat High Court in Nipun A. Bhagat v. State of Gujarat[R/Special Civil Application No. 14931 of 2020, dated January 4, 2021] directed the Revenue (Respondent) to unblock the ITC lying in the electronic credit ledger of Nipun A. Bhagat (Petitioner), […]
After the implementation of GST Act in July 2017, there are number of changes are made by the government to stabilise the GST Act but still it is in hit and try phase. As seen in past few months, number of GST fake Input Credit rackets were detected by GST Department. After that, GST Department […]
Life is full of uncertainties. The only aspect of life that we can be truly certain about is death. When a person dies, then many things need to be considered by family members like filing of insurance claims, getting legal heir certificate, transfer of properties in the name of legal heir , filing of nomination claims […]
We all are familiar with the word TDS (Tax Deducted at Source) in relation to Direct Tax, but few people are aware that similar term exists in Indirect Tax also. The concept of Tax Deduction at Source (TDS) was there in the erstwhile VAT Laws. GST Law also mandates Tax Deduction at Source (TDS) vide […]
