MCA releases certain Amendment Rules – MCA
MCA has released the following amendment rules which are as under: Companies (Accounts) Amendment Rules, 2018 In exercise of the powers conferred by section 134...
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Lok Sabha passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018
The Bill provides significant relief to home buyers by recognizing their status as financial creditors. The voting threshold for key decision has been proposed to...
CBIC releases GST return formats
Central Board of Indirect Taxes and Customs (CBIC) has released the new GST return formats as per the decisions of 28th GST council meeting. To...
Penalty or Additional Fee for delay in Filing ROC Forms.
Penalty or Additional Fee for delay in Filing ROC Forms. Background: In Northern region comprising Punjab, Chandigarh and Himachal Pradesh, around 51% of the active...
ICAI represents CBDT to Extend ITR Filing Due Date from 31 July to 31 August 2018
The Institute of Chartered Accountants of India (ICAI) has represented to the CBDT to extend the due date for the ITR filing in case of...
CBDT releases amendments to Form 3CD on 20th July 2018
Central Board of Direct Taxes has released the amendments to the Form 3CD vide Income tax (8th Amendment) Rules 2018, which shall come into force...
Press Note on Simplified GST Return
Press Note on Simplified GST Return GST Council in its 28th meeting held on 21st of July, 2018 in New Delhi, approved the new...
Recommendations made during the 28thmeeting of the GST Council held in New Delhi on 21st July, 2018
PRESS NOTE July 21, 2018 Recommendations made during the 28thmeeting of the GST Council held in New Delhi on 21st July, 2018 Amendments to the...
ICAI released E-publication on E-way bill under GST in July 2018 (3rd Edition)
The institute of Chartered Accountants of India (ICAI) in an attempt towards imparting knowledge to the stakeholders in the context of various changes in the...
ICAI submitted the suggestions on GST law to Government
The Institute of Chartered Accountants of India (ICAI), in an attempt towards catering to the needs of the Industry regarding the compliance of the GST...
Submission of evidence during seizure isn’t necessary; can be done in assessment proceeding as well: HC
The High Court of Bombay, in a recent judgement held the following in a case of block assessment, ” Where in course of block assessment, assessee...
CBIC to observe Third Refund fortnight to clear pending refunds
CBIC, in compliance to its commitment towards “Ease of Doing Business” is going to observe Third Refund Fortnight starting from 16th July 2018 to 31st...
Section 185 of the Companies Amendment Act 2017
Section 185: Loan to directors. Summary: In this we are referring the provision of Section 185 of Companies Amendment Act 2017 (Loan to directors...
Unique Document Identification Number (UDIN)
In an initiative towards maintaining the integrity of the certification being done by the Chartered Accountants and to keep a track that no person other...
Indian Accounting Standards (Ind AS): Disclosures checklist by ICAI
The Institute of Chartered Accountants of India (ICAI) has published the book titled “Indian Accounting Standards (Ind AS) : Disclosure checklist” containing the checklists for...
Mandatory KYC for all the Directors by MCA – New E-form DIR-3 KYC to be notified
As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC to be notified...
Release of Indian Accounting Standards (Ind AS) : An Overview by ICAI
The Institute of Chartered Accountants of India (ICAI) on 3rd July 2018 has released the 3rd edition of the earlier published editions which contains an...
CBDT has extended date of AADHAR linking with PAN till 31-03-2019
CBDT vide order dated 30-06-2018 has extended the time for linking PAN with AADHAR till 31st March 2019. To download the order, click here.cbdt-order-regarding-linking-of-pan-with-aadhaar-while-filing-of-itrs-30-06-2018 (1)...
Deferment of TDS / TCS provisions under GST till 30-09-2018
In a press release, the provisions of TDS and TCS under GST shall remain suspended till 30-09-2018. ...
Analysis of Section 44AD & 44ADA of the Income Tax Act, 1961
Brief History : Special Provisions for computing Profits and Gains of Business on Presumptive Basis Presumptive Taxation u/s 44AD and 44AE was introduced by the...
Provisions of TDS/TCS and RCM has been deferred by 3 months
The provisions of TDS/TCS and applicability of RCM provisions which have been deferred in the 26th GST Council meeting held on 10th March 2018 for...