The Central/State Government/local authority bound by the resolution plan once approved by Adjudicating Authority (i.e. NCLT) retrospectively. ABCAUS Case Law CitationABCAUS 3484 (2021) (04) SC Important case law relied referred:K. P. Varghese vs. Income Tax Officer, Ernakulam and Another (1981) 4 SCC 173B. K. Educational Services Private Limited …
Shri Sivasubramanian Ramann, IA&AS appointed as Chairman & Managing Director (CMD), Small Industries Development Bank of India (SIDBI) MINISTRY OF FINANCE(Department of Financial Services) NOTIFICATION New Delhi, the 7th April, 2021 S.O. 1583(E).—In exercise of the powers conferred by clause (a) of sub-section (1) of section 6 read …
SEBI revises Reporting Formats for Mutual Funds. Reports to be submitted by AMCs to Trustees, by AMCs to SEBI and by Trustees to SEBI reviewed Securities and Exchange Board of India CIRCULARSEBI/HO/IMD/IMD-I DOF2/P/CIR/2021/550 April 12, 2021 All Mutual Funds (MFs)/ Asset Management Companies (AMCs)/Trustee Companies/Board of Trustees of …
GSTN Clarification on 4-digit/6-digit HSNs not accepted on e-invoice/e-Way bill Portal. Number of HSN digits as per Notifications No. 12/2017 & 78/2020 are minimum number of HSN digits to be mentioned on the invoice. GSTN Clarification on reporting 4-digit/6-digit HSNs In terms of the Notification No. 12/2017-Central Tax …
Revision u/s 263 on issues not covered under limited scrutiny quashed as AO could not had gone into other issues ABCAUS Case Law CitationABCAUS 3483 (2021) (04) ITAT Important case law relied referred:Sanjib Kumar KhemkaM/s Chengmari Tea Co. Ltd. In the instant case, the assessee had challenged the …
MEIS applications for Shipping bills with Let Export date from 01.04.2019 to 31.03.2020 can be submitted without any late cut upto 30.09.2021 Government of IndiaMinistry of Commerce & Industry Department of CommerceDirectorate General of Foreign Trade Udyog Bhawan, New Delhi Public Notice No. 53 /2015-2020 Dated the 9th …
Revision u/s 263 on issues not covered under limited scrutiny quashed as AO could not had gone into other issues ABCAUS Case Law CitationABCAUS 3483 (2021) (04) ITAT Important case law relied referred:Sanjib Kumar KhemkaM/s Chengmari Tea Co. Ltd. In the instant case, the assessee had challenged the …
CBDT Circular though meant for non-seizure of jewellery takes into account quantity of jewellery generally held by family members of a Hindu Family ABCAUS Case Law CitationABCAUS 3482 (2021) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the …
No automatic vacation of stay granted by ITAT beyond 365 days when delay in disposing appeal not attributable to assessee. Supreme Court upheld struck down of third proviso of Section 254(2A) as constitutionally invalid ABCAUS Case Law CitationABCAUS 3480 (2021) (04) SC Important case law relied referred:Income Tax …
GSTN Clarification on 4-digit/6-digit HSNs not accepted on e-invoice/e-Way bill Portal. Number of HSN digits as per Notifications No. 12/2017 & 78/2020 are minimum number of HSN digits to be mentioned on the invoice. GSTN Clarification on reporting 4-digit/6-digit HSNs In terms of the Notification No. 12/2017-Central Tax …
GSTN Advisory on GST Payment under QRMP Scheme, for March 2021 month. Two options to generate Challan: Fixed Sum or Self Assessment GSTN Advisory on GST Payment under QRMP Scheme, for the month of March, 2021 1. All taxpayers having aggregate turnover up to Rs 5 crores, under …
Module wise new functionalities deployed on the GST Portal for taxpayers Module wise new functionalities deployed on the GST Portal for taxpayers – GSTN Advisory Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such …
Requirement of mandatory audit trail in company accounting software postponed to financial year commencing on or after 01.04.2022. Read MCA Notifications Requirement of mandatory audit trail in accounting software postponed MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st April, 2021 G.S.R. 248(E).—In exercise of the powers conferred …
MCA amends Schedule III of Companies Act 2013. Read disclosures to be made in Balance Sheet with effect from 1st day of April, 2021 MCA has made amendments in Schedule III to the Companies Act 2013 with effect from 1st day of April, 2021. Schedule III of the …
Penal Provisions related to Unpaid Dividend and Valuation by Registered valuers under Companies Amendment Act 2020 to commence from 24.03.2021 Government of India Ministry of Corporate Affairs Notification New Delhi, the 24th March, 2021 S.O. (E).– In exercise of the powers conferred by sub-section (2) of section 1 …
The Central/State Government/local authority bound by the resolution plan once approved by Adjudicating Authority (i.e. NCLT) retrospectively. ABCAUS Case Law CitationABCAUS 3484 (2021) (04) SC Important case law relied referred:K. P. Varghese vs. Income Tax Officer, Ernakulam and Another (1981) 4 SCC 173B. K. Educational Services Private Limited …
Revision u/s 263 on issues not covered under limited scrutiny quashed as AO could not had gone into other issues ABCAUS Case Law CitationABCAUS 3483 (2021) (04) ITAT Important case law relied referred:Sanjib Kumar KhemkaM/s Chengmari Tea Co. Ltd. In the instant case, the assessee had challenged the …
CBDT Circular though meant for non-seizure of jewellery takes into account quantity of jewellery generally held by family members of a Hindu Family ABCAUS Case Law CitationABCAUS 3482 (2021) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the …
Time limit for UDIN updation for audit report/certificates uploaded from 27.04.2020 extended up to 30.04.2021 as per income tax e-filing portal Earlier CBDT has given one-time relaxation to update UDINs till 15.02.2021 for Forms uploaded during 27th April 2020 to 26th November 2020 CBDT is validating UDIN generated …
CA students who passed Final exams & eligible to become Chartered Accountants can opt for Membership effective from 1st April 2021 As per ICAI announcement, students who have passed CA Final Examination and eligible to become Chartered Accountants can take the benefit of applying for Membership immediately and …
ICAI Technical Guide on Revised Formats of Long Form Audit Report (LFAR) In bank and bank’s branches audit, the auditors are required to report on certain matters prescribed by the RBI. LFAR is a separate report to be submitted to the bank’s management in the format prescribed by …
Excel Form 10E-Salary Arrears Relief calculator AY 2021-22 for claiming rebate under section 89(1) of Income Tax Act 1961-Download As per section 89(1) of the Income Tax Act, 1961 relief for income tax has been provided when in a financial year an employee receives salary in arrears or …
ABCAUS Excel Depreciation Calculator FY 2019-20 under Companies Act 2013 as per Schedule-II Version 05.28 Friends, The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. I am so glad to publish the much awaited utility for FY 2019-20 today. The ABCAUS Depreciation …
Excel Income Tax TDS Challan ITNS-281 version 14.00 for AY 2021-22 with database facility This excel based auto Challan ITNS 281 should be used for deposit of Tax Deducted at Source (TDS) on any heads of income or for deposit of Tax Collected at Source (TCS) by both …
Empanelment to act as ICAI Exam observers for May 2021 CA Exam. Last date to apply is 20.03.2021 EMPANELMENT OF MEMBERS TO ACT AS OBSERVERS AT EXAMINATION CENTRES FOR THE CHARTERED ACCOUNTANTS EXAMINATIONS MAY 2021 ICAI proposes to empanel members to act as Observers for the forthcoming MAY …
Extension of last date for CAG Empanelment of CA firms/LLPs for the year 2021-22 to 1st March 2021 Considering the difficulties in submitting the online empanelment, the office of C&AG at the request of ICAI has extended the last date for submission of online application from 15th February, …
Empanelment for Chartered Accountant or Cost Accountant for Special audit of Central Excise, Service Tax and GST Assessees. Provisions of erstwhile section 14AA of the Central Excise Act, 1944, Section 72 of the Finance Act, 1994 and current Section 66 of the Central Goods and Service Tax Act, …
Customs (Verification of Identity and Compliance) Regulations 2021 for new Importer, Exporter or Customs Broker. Applicability and online procedure. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 41/2021-Customs (N.T.) New Delhi, the 5th April, 2021 G.S.R. 249(E).—In exercise of the powers …
Customs Tariff (Determination of Origin of Goods under the Comprehensive Economic Cooperation and Partnership Agreement between the Republic of India and the Republic of Mauritius) Rules, 2021. Government of IndiaMinistry of Finance(Department of Revenue)(Central Board of Indirect Taxes and Customs)New Delhi Notification No. 38/2021-Customs (N.T.) Dated: 31st March, …
Revised Time limit for filling of Bill of Entry effective after assent of Finance Bill 2021-CBIC Clarifies on amendments to Section 46 Circular No. 08/2021-Customs F.No.450/77/2021-Cus-IVGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and Customs****** Room No.227B, North Block,New Delhi, dated the 29th of March, 2021 …
NFRA imposes penalty of Rs. 25 lakhs and debars CA for 7 years for professional misconduct in statutory audit of ILFS Financial Services Ltd ABCAUS Case Law Citation:ABCAUS 3338 (2020) (07) NFRA The National Financial Reporting Authority (NFRA / Authority) helds CA guilty of professional misconduct for performance …
Applications invited from Company Secretary Professionals for contractual vacancies in Investor Education and Protection Fund Authority (IEPFA) ICSI on behalf of Investor Education and Protection Fund Authority, (IEPFA) Ministry of Corporate Affairs has invited applications from Company Secretary Professionals for Five (5) contractual vacancies in Investor Education and …
Quality Review Board Report on Audit Quality Review 2018-19. Audit documentation, standards on quality control, written representations etc. key concern The Quality Review Board (QRB) has been set up by the Government of India under section 28A of the Chartered Accountants Act, 1949. The QRB publishes its …
