MCA has imposed a penalty on M/s Iyyanar Benefit Fund Nidhi Limited for violating Section 92(3) of Companies Act, 2013. Company failed to accurately disclose details of deposits and borrowings in their balance sheet, resulting in penalties being imposed.
Unraveling the complexities of proceedings related to fake invoicing under the GST regime. Explore the nuances of Show Cause Notices, orders, and the implications of Circular No. 171/03/2022-GST, ensuring clarity in navigating the legal landscape.
Section 44AD of the Income tax Act is one of the most important sections which come in to use most frequently. There is a misconception / issue regarding the interpretation of the provisions of this section, regarding declaration of profits at minimum 8% / 6% rate even though the actual net profit earned is more.
MCA issued a penalty order against Manpur Rubber Industries Private Limited for non-filing of annual returns for multiple financial years and deactivation of DIN (Director Identification Number).
Uncover insights into common errors in the Company Auditor’s Report Order (CARO) with our comprehensive analysis. Discover the significance of CARO in ensuring transparent corporate reporting and learn how auditors can address errors to maintain credibility. From inadequate compliance to insufficient audit evidence, inaccurate reporting, and non-disclosure of related party transactions, each section provides a deep dive into key challenges auditors face.
The Institute of Chartered Accountants of India (ICAI) has recently made a significant decision regarding the revocation of Unique Document Identification Numbers (UDINs). UDINs are unique codes assigned to attestations and certifications made by chartered accountants in India. In its 420th meeting held on March 23rd-24th, 2023, the ICAI Council announced that the revocation of […]
In a case between Prakash Lal Khandelwal and CIT, Jharkhand High Court determined that a one-day delay in uploading an order or generating a DIN does not render an assessment order unsustainable.
Unlock the secrets of Capital Gains Tax exemption on new home purchases in a relative’s name. Navigate the legal nuances and controversies surrounding Sections 54 and 54F of the Income Tax Act. Learn from real cases and expert insights for a strategic approach to claiming exemptions and securing your investments. #TaxExemption #RealEstateInvesting
CBDT introduces Form 10IEA for FY 23-24, allowing taxpayers to opt in or out of new tax regime via Notification No. 43/2023-Income Tax Dated: 21st June, 2023
Ministry of Corporate Affairs (MCA) has announced an extension in the due date for filing Form DPT-3, allowing companies to file without paying additional fees until July 31, 2023. Get the details and implications of this decision in the official circular, General Circular no. 06/2023.
