Government introduced Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2021 in Lok Sabha on 17th December 2021. Clause wise Analysis & Reason for introduction of the bill are as follows:- STATEMENT OF OBJECTS AND REASONS The Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959 and the […]
Advance Tax collections for the F.Y. 2021-22 (Till 3rd Installment) stand at Rs. 4,59,917.10 crore as on 16.12.2021 which shows a growth of approximately 53.50%. Net Direct Tax collections for the F.Y. 2021-22 grown at robust pace at more than 60%. Refunds aggregating to Rs. 1,35,093.6 crore issued in the current fiscal. The figures of […]
MEASURES UNDERTAKEN TO BOOST MANUFACTURING SECTOR IN INDIA The Government has undertaken the following major reforms/measures to boost manufacturing sector in the country and to make India a favoured manufacturing and investment destination: i. Production-Linked Incentive (PLI) Scheme in 14 key sectors, under the aegis of Aatma Nirbhar Bharat for enhancing India’s manufacturing capabilities and […]
It has come to our notice that certain individuals/groups of individuals/institutions have been fraudulently offering false employment opportunities on behalf of The Institute of Cost Accountants of India (ICAI).
Ministry of Corporate Affairs (MCA) has mandated the filing of financial statements in XBRL format for the specified class of companies for which the XBRL Taxonomies for Commercial and Industrial Sector- AS and Ind AS Based are already in place.
New ITD Portal is still not fully functional at its 100% level as a glitch free portal where many issues are encountered by many viz. people filing multiple ITRs u/s 139(1) for the same PAN, Incorrect upload of JSON files of one PAN in some other PANs, unable to download Income Tax acknowledgements and/or ITR forms after filing, validations of ITR Forms, Frequent changes in ITD utilities
3.59 crore Income Tax Returns filed on the new e-filing portal of the Income Tax Department Senior officials of Ministry of Finance headed by Secretary, Revenue had a meeting with the Infosys team headed by Shri Salil Parekh, MD & CEO, Infosys on 16.12.2021, on the preparedness of the e-filing website during the peak filing […]
TAX BREAKS ON ETHANOL | The Government has lowered Goods and Services Tax rate to 5% from 18% on ethanol meant for blending under the Ethanol Blended Petrol (EBP) Programme The Minister of State for Petroleum and Natural Gas, Shri Rameswar Teli in a written reply to a question in the Lok Sabha today informed […]
Steps taken by the government to arrest the price hike of electricity A series of steps taken by the Government of India has helped to arrest the price hike of electricity in recent past. Such steps include (i) Government of India announced a Liquidity Infusion Scheme (LIS) through Power Finance Corporation (PFC) Ltd. and Rural […]
ICSI Request for relaxation on levy of additional fee in filing of e-forms AOC-4, AOC-4(CFS), AOC-4- XBRL, AOC-4 Non-XBRL and MGT-71 MGT-7A for the financial year ended on 31.03.2021 under the Companies Act, 2013
