Integrated Services from NIC-IRP e-invoice-1 and e-invoice-2 Portals GSTN has informed that NIC is releasing the integrated services from e-invoice-1 and e-invoice-2 portals on 18th July 2024 on sandbox portals and 1st Aug 2024 on the production portals. These portals run in parallel and now allow for seamlessly inter-operations. …
The Companies (Significant Beneficial Owners) Amendment Rules, 2024. MCA amends Form No. BEN-2 Return to the Registrar under section 90 MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 15th July, 2024. G.S.R 404(E).—In exercise of the powers conferred by section 90 read with sub-sections (1) and (2) ofsection 469 …
Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 53rd meeting Circular No. 229/23/2024-GST Government of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated the 15th July, 2024 ToThe Principal Chief Commissioners/ Principal …
Clarifications on applicability of GST on certain services as per 53rd GST Council meeting Circular No. 228/22/2024-GST F. No. CBIC-190354/94/2024-TO(TRU-11)-CBECGovernment of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated the 15th July, 2024 To,The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ …
Merely increasing agriculture expenditure & reducing agriculture income will not result in income from other sources – ITAT In a recent judgment, ITAT Bengaluru has held that increasing or decreasing of any agriculture expenditure is irrelevant if income of the assessee is solely agriculture in nature & merely …
Not generating e-Tax Invoice before movement of goods was human error in absence of finding of mens rea – High Court In a recent judgment, the Hon’ble Allahabad High Court has held that the error committed by the assessee for not generating E Tax Invoice before movement of …
Merely increasing agriculture expenditure & reducing agriculture income will not result in income from other sources – ITAT In a recent judgment, ITAT Bengaluru has held that increasing or decreasing of any agriculture expenditure is irrelevant if income of the assessee is solely agriculture in nature & merely …
Expenses for making house habitable are not renovation expenses and hence qualified for exemption u/s 54 In a recent order, the ITAT Delhi has held that when house was purchased in inhabitable condition and expenditure was necessary for the proper electrification, water facilities, wood work, glass work, etc.. …
Claiming depreciation on revalued cost of assets after conversion of partnership firm into company Supreme Court dismissed Special Leave Petition of Income Tax Department In a recent order, the Hon’ble Supreme Court has dismissed the Special Leave Petition (SLP) of the Income Tax Department challenging claim of …
Integrated Services from NIC-IRP e-invoice-1 and e-invoice-2 Portals GSTN has informed that NIC is releasing the integrated services from e-invoice-1 and e-invoice-2 portals on 18th July 2024 on sandbox portals and 1st Aug 2024 on the production portals. These portals run in parallel and now allow for seamlessly inter-operations. …
Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 53rd meeting Circular No. 229/23/2024-GST Government of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated the 15th July, 2024 ToThe Principal Chief Commissioners/ Principal …
Clarifications on applicability of GST on certain services as per 53rd GST Council meeting Circular No. 228/22/2024-GST F. No. CBIC-190354/94/2024-TO(TRU-11)-CBECGovernment of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated the 15th July, 2024 To,The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ …
The Companies (Significant Beneficial Owners) Amendment Rules, 2024. MCA amends Form No. BEN-2 Return to the Registrar under section 90 MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 15th July, 2024. G.S.R 404(E).—In exercise of the powers conferred by section 90 read with sub-sections (1) and (2) ofsection 469 …
Companies (Incorporation) Amendment Rules 2024 Government of IndiaMinistry of Corporate Affairs Notification New Delhi the 16th July, 2024 GSR…(E )- In exercise of powers conferred by sub sections (1) and (2) of section 469 of the Companies Act 2013 (18 of 2013), the Central Government hereby makes the …
Period of 45 days for reporting MSME over dues to be calculated from the date of of acceptance or deemed acceptance of goods or services – MCA MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 15th July, 2024 S.O. 2751(E).—In exercise of the powers conferred by section 405 of …
Merely increasing agriculture expenditure & reducing agriculture income will not result in income from other sources – ITAT In a recent judgment, ITAT Bengaluru has held that increasing or decreasing of any agriculture expenditure is irrelevant if income of the assessee is solely agriculture in nature & merely …
Not generating e-Tax Invoice before movement of goods was human error in absence of finding of mens rea – High Court In a recent judgment, the Hon’ble Allahabad High Court has held that the error committed by the assessee for not generating E Tax Invoice before movement of …
Expenses for making house habitable are not renovation expenses and hence qualified for exemption u/s 54 In a recent order, the ITAT Delhi has held that when house was purchased in inhabitable condition and expenditure was necessary for the proper electrification, water facilities, wood work, glass work, etc.. …
ICAI invites Expression of Interest (EOI) for Empanelment of Faculty / Subject Matter Experts for Self-paced Online Modules. The Institute of Chartered Accountants of India (ICAI) has invited expressions of interest from Chartered Accountants and Professionals, with 10+ years of teaching experience, for recording e-lectures for Self-Paced Online …
ICAI issues Guidance on Non-Compliances Observed by Quality Review Board (QRB) related to Engagement and Quality Control Standards and observations related to CARO and IFC. ICAI issues Guidance on Non-Compliances Observed by QRB Based on observations noticed during these quality reviews, QRB issues necessary advisories to concerned audit …
ICAI bans four Chartered Accountants for professional misconduct Notification No. PR/330/2019/DD/308/2019/DC/1501/2021 In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rule 18(17) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the …
Excel Auto 234ABC Interest Calculator for AY 2024-25 with accurate calculation as per revised provisions. Download for Corporate and Non-corporate Assessees Section 234A, 234B and 234C of the Income tax Act, 1961 deals with interest for delay in ITR Filing or Short/Non deposit of Advance tax. Interest is …
Excel Income Tax Challan ITNS 280 for FY 2024-25 AY 2025-26 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 2023-24 under Companies Act 2013 as per Schedule-II Version 05.18 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2023-24 has also been formulated and styled the same way as its …
RBI invites E-tender for appointment of Chartered Accountants as Concurrent Auditor for the period from 01.10.2024 to 30.09.2025 Reserve Bank of India, Bhubaneswar has invited E-tender from Category-I Chartered Accountant Firms registered with ICAI for Odisha State under the Two-Bid system (Technical & Financial Bid) for Appointment of …
Punjab Gramin Bank invites application from Retired Officers from own Bank & sponsor bank conducting Concurrent Audit of its branches. Punjab Gramin Bank invites application from Retired Officers in Scale II to IV from own Bank (PGB) & sponsor bank (PNB including eOBC & eUNI) who retired after …
ICAI invites Expression of Interest (EOI) for Empanelment of Faculty / Subject Matter Experts for Self-paced Online Modules. The Institute of Chartered Accountants of India (ICAI) has invited expressions of interest from Chartered Accountants and Professionals, with 10+ years of teaching experience, for recording e-lectures for Self-Paced Online …
Electronic certificate of origin or e-CoO, issued by the Issuing Authority of Sri Lanka, is a valid document for the purpose of claiming preferential benefit under the India-Sri Lanka FTA CBIC had received representations that benefit of preferential tariffs in respect of goods eligible for such benefits when …
DGFT has issued latest guidelines for import of Pet Animals (cats/dogs) Directorate General of Foreign Trade has issued a Trade Notice giving the latest import policy provisions for ‘other’ mammals including pet animals (cats/dogs) as under: ITC (HS) Item Description Import Policy Policy Condition Policy Condition (6): Import …
CBIC notifies Shipping Bill (Post export conversion in relation to instrument based scheme) Regulations, 2022 GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUE(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No.11/2022-Customs (N.T.) New Delhi, the 22nd February, 2022 G.S.R.(E).—In exercise of the powers conferred by …
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 …
