Summary of Extended/Conditional Due Dates After The 40th GST Council Meeting Held On 12th June 2020 Time and again changes are being made in due dates of GST compliance’s, to provide some relief to the taxpayers. Also note that these due dates might change again, due to confusing created regarding waiver of late fees for […]
This article is bifurcated into four parts and is updated for the ITR of AY 2020-21. Part A: Person liable to file return as per section 139 Part B: Due date to file return Part C: Brief of Rule 12 and which return to be filed Part D: Changes in ITR forms Part A: Person […]
I. What is conversion? Theoretically, conversion is a method of changing from one type of the Company/entity to another which involves certain procedures, approvals and intimation as per the requirement of the Companies Act, 2013 (“the Act”) and rules made thereunder. II. Following are a few common conversion which we come across: 1. Conversion from […]
Introduction : Under the provision of companies Act, 1956, there were no restrictions on the board of directors of private companies regarding borrowings for the purpose of business of the company. However, Board of directors of Public companies were required to seek approval of shareholders by way of ordinary resolution in case of fresh loans […]
The 40th GST Council took place on 12th June, 2020 and the key decisions taken by the Council are mentioned below: Waiver of Late Fee for Past Return Proposal – No late fee for delayed filing of GSTR-3B for the period July, 2017 to January, 2020. Applicability – For taxpayer having ‘NIL liability’ during the […]
This article shall provide an insight into changes in Income tax forms, additional disclosures required by income tax department and main considerations while filing Income tax returns. It is advisable for us to begin the groundwork and avoid the late hour rushes because new ITR forms require additional details and disclosures.
Credit notes issued after change in rate of tax in respect of goods or services When ever there is a rate change in the goods or services, the tax payers need to revisit their cost structures and business process. Though anti profiteering is one of the major concerns, one key confusion that arises is whether […]
To be an Entrepreneur, herein saying as Employer, is the toughest job to do in India for its non-ending laws and legal compliance as Employer and sometime the laws though has good intention but is so infinite that it just de-motivates the fresh Entrepreneurs and also experience entrepreneurs. There is no hidden fact that to […]
Why Actuarial Valuation Services are needed by Indian and Multinational Companies for Accounting of Defined Benefit Plans (i.e. Gratuity, Leave Encashment, Long Service Award Plan, etc.) in compliance of AS 15 (Revised 2005) & Ind AS 19? I hope the below email may help you in understanding the requirement of Actuarial Valuation Services by Indian […]
Introduction The composition scheme is a very simple, hassle free compliance scheme for small tax payers. Mainly, the scheme is for small business as to provide them relief so that they need not be burdened with the compliance provision of law. Composition scheme is not mandatory scheme, as it is an optional scheme. Person eligible […]
