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Facility for registration of IRP/RPs made available on the GST Portal on behalf of the Corporate Debtors registered earlier, within 30 days of appointment 27/05/2020 Registration of IRP/RPs on GST Portal 1. Insolvency Resolution Professionals/ Resolution Professionals (IRPs/RPs), appointed to undertake corporate insolvency resolution proceedings for Corporate Debtors, …
CBDT notifies Form of Annual Information Statement u/s 285BB by inserting rule 114-I. This will replace the existing Form 26AS of TDS/TCS The Finance Act 2020, in order to extend the scope of Form 26AS beyond the information about tax deducted, inserted a new section 285BB regarding Annual …
Four hour mandatory CPE on Standards on Auditing & Code of Ethics can be done through virtually/online meetings/webnairs by calendar year 2020 onwards – ICAI ICAI, in view of the global pandemic Covid-19, had decided to completely restrict conduction of any programme/class by any Regional Council/Branch/Central Level Committee, …
CBDT amends Rule 10V for grant of exemption to eligible funds from business connections in India. CA report to be filed in Form 3CEJA u/s 9A MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 29/2020 New Delhi, the 27th May, 2020 …
MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the26th May, 2020G.S.R. 311(E).—In exercise of the powers conferred by clauses (f) and (g) of sub–section (2) of section29A, read with Section 28C and Sub–section (1) of section 28D of the Chartered Accountants Act, 1949 (38 of 1949), the Central Government hereby makes …
Raising additional grounds orally under Rule 27 of ITAT Rules upheld. High Court explains the scope of Rule 27 under ABCAUS Case Law Citation:ABCAUS 3314 (2020) (05) HC Important case law relied upon by the parties:Commissioner of Income Tax v Divine Infracon Pvt. Ltd,Commissioner of Income Tax vs. …
ICAI launches a separate website for its disciplinary function / mechanism Institute of Chartered Accountants of India (ICAI) has launched a separate website for its disciplinary function. The digitisation of disciplinary function of the ICAI is a welcome step. The said portal separately deals with disciplinary mechanism and …
Contribution to PM Cares Fund included in Schedule VII of Companies Act 2013. It may now be included by companies in their Corporate Social Responsibility Policies Activities Schedule VII amended to include PM Cares Fund MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 26th May, 2020 G.S.R.313(E).—In exercise …
Extension of moratorium on Term Loans EMI, deferment of Interest on Working Capital facilities by further 3 months from 01.06.2020 to 31.08.2020 Earlier, RBI on 27th March, 2020 has issued an Statement setting out various developmental and regulatory policies addressing the stress in financial conditions caused by COVID-19 …
ICAI releases Guidance Note on “Subsequent Events –Key Audit Considerations amid COVID-19” ICAI has released an Auditing Guidance on “Subsequent Events –Key Audit Considerations amid COVID-19” for the benefit of the members. The guidance note highlights the key areas where focus is desired due to Covid-19 pandemic on …
