Recently there was an outreach by the Income Tax Department to the practicing CA’s to impress upon their clients to opt for the Vivadh se Vishwas scheme which will shortly conclude on 31-12-2020, though there is a likely hood of the scheme being further extended following the Luke warm response to the said scheme as […]
The Ministry of Corporate Affairs (MCA) vide its notification dated 18th December 2020 amended few provisions of the Companies (Appointment and Qualification of Directors) Rules, 2014 vide Companies (Appointment and Qualification of Directors) fifth Amendment Rules, 2020 With effect from December 18, 2020. Summary of Companies (Appointment and Qualification of Directors) fifth Amendment Rules, 2020 […]
An Overview Of Special Cash Package LTC Scheme 1. Further to my article Special Cash Package Scheme In Lieu of LTC for Government Employees, I have received several queries related to the applicability of the scheme. The Government vides office memorandum followed by FAQs (Frequently Asked Questions) has clarified issues related to the scheme. 1.1 […]
Clarification And Impact Regarding Extension of AGM, CFSS And Filing of Financial Statements & Annual Returns In order to provide relaxation in compliance of various provisions of the Companies Act, 2013 due to the outbreak of Coronavirus, the Ministry of Corporate Affairs had extended the Companies Fresh Start Scheme, 2020 and the LLP Settlement Scheme, […]
Note on Auto Population of details in Form GSTR 3B from Form GSTR 1 and GSTR 2B Recently GSTN introduced a facility to auto-populate system computed details in Form GSTR-3B for taxpayers (filing their Form GSTR-1 on monthly basis), from November 2020 Tax Period onwards. The mechanism of such auto population shall be as under: […]
Introduction The retail sale of various motor vehicles, which include two wheelers, three wheelers, four wheelers, various types of passenger cars, commercial vehicles and tractors etc. is done in India through a large network of automobile dealers. The retail sale of vehicles is done by dealers on a principal to principal basis by engaging in […]
EMSIGNER ERROR IN GST PORTAL:- Failed to Establish Connection to the Server. Kindly Restart the Emsigner when your are filing your GST Return or While Registering your DSC in GST Portal you may face this kind of error. This kind of error may occur in the following situations/cases, i) When you are filing your GST return ii) When […]
Before you actually sit down to upload your income tax return (ITR) or visit your Chartered Accountant for filing your ITR, it is better you do some ground work to save the time as well to ensure that full particulars are submitted without any omission. Let us discuss what preparatory ground work you should do […]
Farmers can enter into a written agreement to sell their produce even before sowing their crops which will guarantee an assured price for their produce. Ownership of crops be retained by the farmer during production
Disallowance of Expenditure made in Cash- Section 40A(3) & 3(A) (Read with Rule 6DD) (Read with Section 269 ST & Section 271 DA of Income Tax Act, 1961) (Read with Notification 08/2020) Section 40A(3) Cash Payment in Current Year Any payment made to a Person, in a day, for a single Bill exceeding Rs. 10,000 […]
