No TDS u/s 194A on interest payments up to Rs. 20 lakhs to Scheduled Tribes by scheduled banks located in a specified area in North Eastern States and Ladakh Region Sub-section (1F) of section 197A of the Income-tax Act, 1961 provides that no deduction of tax …
CBDT notifies two sovereign wealth funds u/s 10(23FE) CBDT has notified two sovereign wealth fund under section 10(23FE) of the Income Tax Act 1961 (the Act) as the specified person for the purposes of the clause (vi) of clause (b) of the Explanation 1 to clause (23FE) of section 10 …
CBDT extends due date for linking of Aadhaar and PAN. Timelines for passing penalty order under Income Tax Act / adjudication of Benami property CBDT has extended the time limits for certain compliances under Income Tax Act 1961. Earlier The Taxation and Other Laws (Relaxation & Amendment of …
Time limit to generate UDIN extended to 60 days from 15 days to align it with Standards on Auditing and Standard on Quality Control ICAI extends UDIN generation time limit to 60 days Sandard on Quality Control (SQC 1) on Retention Period for Engagement Documentation (Working Papers) requires …
Recommendations of 45th GST Council Meeting. Decisions taken by GST Council The GST Council’s 45th meeting was held today in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister. The GST Council has inter-alia made several recommendations relating to changes in GST rates on supply of …
The Tribunal (Conditions of Service) Rules, 2021 The Ministry has notified the Tribunal (Conditions of Service) Rules, 2021. These Rules shall apply to the Chairperson and Member of the Tribunal as specified in column (2) of the First Schedule of the Tribunal Reforms Act, 2021 which includes NCLATs …
No TDS u/s 194A on interest payments up to Rs. 20 lakhs to Scheduled Tribes by scheduled banks located in a specified area in North Eastern States and Ladakh Region Sub-section (1F) of section 197A of the Income-tax Act, 1961 provides that no deduction of tax …
CBDT notifies two sovereign wealth funds u/s 10(23FE) CBDT has notified two sovereign wealth fund under section 10(23FE) of the Income Tax Act 1961 (the Act) as the specified person for the purposes of the clause (vi) of clause (b) of the Explanation 1 to clause (23FE) of section 10 …
CBDT extends due date for linking of Aadhaar and PAN. Timelines for passing penalty order under Income Tax Act / adjudication of Benami property CBDT has extended the time limits for certain compliances under Income Tax Act 1961. Earlier The Taxation and Other Laws (Relaxation & Amendment of …
Recommendations of 45th GST Council Meeting. Decisions taken by GST Council The GST Council’s 45th meeting was held today in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister. The GST Council has inter-alia made several recommendations relating to changes in GST rates on supply of …
Formula for Refund of ITC u/s 89(5) is not ultra vires. Supreme Court urges GST Council to reconsider formula and take a policy decision ABCAUS Case Law CitationABCAUS 3550 (2021) (09) SC Important case law relied referred:VKC Footsteps India Pvt. LtdTvl. Transtonnelstroy Afcons Joint Venture Section 54 of …
Clarification on extension of time limit to apply for revocation of cancellation of GST registration CBIC has issued Circular No. 158/14/2021-GST dated 06.09.2021 giving clarification on extension of time limit to apply for revocation of cancellation of GST registration in view of Notification No. 34/2021-Central Tax …
MCA issues Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) The MCA has issued Frequently Asked Questions FAQs on Corporate Social Responsibility CSR. The broad provisions related to CSR are threefold and have been provided in Section 135 of the Companies Act, 2013 , Schedule VII and …
CA CMA CS Advocates with ten years of practice exempted from passing proficiency test for inclusion of name in Independent Directors database – MCA Notification Ministry of Corporate Affairs has notified the Companies (Appointment and Qualification of Directors) Amendment Rules, 2021 to amend Rule 6 of the Companies …
MCA exempts foreign companies/incorporated outside from provisions of section 387 to 392 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 5th August, 2021 S.O.3156(E).—In exercise of the powers conferred by section 393A of the Companies Act, 2013 (18 of 2013), the Central Government hereby exempts, from the provisions …
Without specific communication of deficiency, no effective opportunity of being heard can be said to have been granted In a recent judgment the ITAT has held that without specific communication of deficiency in submissions made, no effective opportunity of being heard can be said to have been granted …
No modifications or withdrawals of CoC-approved Resolution Plans at behest of successful Resolution Applicant once plan submitted to Adjudicating Authority- Supreme Court In a recent judgment the Hon’ble Supreme Court have held that under the existing insolvency framework in India there is no scope for further modifications or …
Formula for Refund of ITC u/s 89(5) is not ultra vires. Supreme Court urges GST Council to reconsider formula and take a policy decision ABCAUS Case Law CitationABCAUS 3550 (2021) (09) SC Important case law relied referred:VKC Footsteps India Pvt. LtdTvl. Transtonnelstroy Afcons Joint Venture Section 54 of …
Time limit to generate UDIN extended to 60 days from 15 days to align it with Standards on Auditing and Standard on Quality Control ICAI extends UDIN generation time limit to 60 days Sandard on Quality Control (SQC 1) on Retention Period for Engagement Documentation (Working Papers) requires …
Relaxation in Study Period for students appearing in May, 2022 Intermediate Examination after passing July, 2021 Foundation Examination ICAI has given relaxation in study period for students who are appearing in May, 2022 Intermediate Examination after passing July, 2021 Foundation Examination Students who have cleared July, 2021 Foundation …
Exemption of CA Course fee for students who have lost their any parent during Covid-19 pandemic The ICAI has decided that the registration fee of CA Course at all levels including ICITSS and AICITSS would be exempted for such students who have lost their any parent during …
Excel Income Tax Challan ITNS 280 for FY 2021-22 AY 2022-23 with database facility. Download ABCAUS Income Tax payment Challan No. ITNS 280 This excel Challan ITNS 280 for payment of Income Tax should be used for making payment of income tax on companies (corporation tax) or income …
ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its …
Excel Income Tax TDS Challan ITNS-281 version 1.5.1 for AY 2022-23 with database facility Income Tax Challan ITNS 281 is used for payment of Tax Deducted at Source (TDS) or Tax Collected at Source (TCS). A PDF version of the challan with instructions can be downloaded from income …
Empanelment to act as ICAI Exam observers for December 2021 CA Exam. Last date to apply is 05.10.2021 EMPANELMENT OF MEMBERS TO ACT AS OBSERVERS AT EXAMINATION CENTRES FOR THE CHARTERED ACCOUNTANTS EXAMINATIONS DECEMBER 2021 ICAI proposes to empanel members to act as Observers for the forthcoming Dec-2021 …
Bank of Baroda Concurrent Auditor 2021-22 Empanelment – RFP for appointment Bank of Baroda has issued RFP for appointment of-1-Concurrent Audit Firm to carry out Concurrent Audits of Branches/CBOs/Other Units For each of the following Zones/ Groups of Bank of Baroda Namely Ahmedabad Zone (Group-I), Chennai Zone, Kolkata …
Indian Bank Empanelment of Concurrent and Stock Auditors for FY 2021-22 Indian Bank invites online applications from the practicing firms of Chartered Accountants of India, who are willing to have their firm empanelled as Concurrent Auditor & Stock Auditor in the bank. Last date for applying online is …
Applications invited for Customs Broker Examination 2021. Last date 18.11.2021 Applications have been invited for Customs Broker Examination. Indian citizens can appear in the online written examination for issuance of license to act as a Customs Broker under Customs Brokers Licensing Regulations (CBLR), 2018, as amended. …
Govt extends custom duty exemption on Oxygen, ventilators & Covid-19 vaccine and other covid-19 related goods to 30.09.2021 MINISTRY OF FINANCE(Department of Revenue) Notification No. 41/2021-Customs New Delhi, the 30th August, 2021 G.S.R. 601(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs …
Pr. Commissioners/Commissioners of Customs to decide the amount of security required in certain cases of provisional assessments Circular No. 19/2021-Customs F. No. 15021110/2020-ICD-CBECGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and Customs North Block, New DelhiDated .16th August, 2021 To,All Principal Chief Commissioners/Chief Commissioners …
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 …
