The ministry of corporate affairs (MCA) is set to launch random electronic scrutiny of corporate filings later this year as it seeks to use technology to improve supervision and compliance, a top official said. “There will be stratified random sampling of the returns. We are deciding the percentage of returns that will be taken up …
GOVT TO LAUNCH RANDOM E-SCRUTINY OF CORP FILINGS Read More »
The government is set to amend laws to streamline the functioning, especially the disciplinary aspects, of three professional institutes — the Institute of Chartered Accountants of India (ICAI), Institute of Cost and Works Accountants of India (ICWAI) and Institute of Company Secretaries of India (ICSI). A bill to amend relevant provisions of laws governing the …
NEW LAWS FOR AUDITOR, COMPANY SECRETARY BODIES IN OFFING Read More »
Finance Minister Nirmala Sitharaman on Monday said the allocation to rural infrastructure development has been increased to Rs 40,000 crore for the next fiscal from Rs 30,000 crore in FY21. Presenting the Union Budget for 2021-22, she also said the operation green scheme will cover 22 more perishable commodities while announcing the development of five …
The government has withdrawn a tax benefit for mergers and acquisitions (M&A) that would result in marginal increase in the cost of transactions. The government in the Budget 2021 said that no depreciation would be allowed on goodwill. Up until now many companies would end up buying companies more than what the “book value” of …
TAX BENEFIT ( WRITE OFF OF GOODWILL) ON MERGERS AND ACQUISITIONS WITHDRAWN Read More »
The corporate social responsibility rules that came into effect from Friday have given time till April 1, 2021 to implementing agencies such as trusts and societies to register with the ministry of corporate affairs while also setting a three year time-limit for any CSR project, among a series of other amendments introduced by the government. …
PF to be Increased to Rs 25000 from Rs 15000 – CBT to Ministry of Labour PF to be Increased to Rs 25000 from Rs 15000 – CBT to Ministry of Labour CBT members have proposed to the Ministry of Labour to cut contribution and increase the EPF cover wage limit for the country’s 4.5 …
Proposed Changes in Employee’s Providend Fund Act. Read More »
Our other Financial Advisory Services include:– Secured and Un-Secured Loans to Companies with a minimum turnover of Rs.50 Lakhs and profit making. WE ARE NOT INTO PRIVATE FINANCE. Debt and Equity Finance arranged by us good Companies and Businesses from Banks and NBFC. Home loans / Loan against Properties / Lease Rental Discounting Working Capital …
1. Exporter liable for penalty equal to 500% of refund claimed if Input taken on invoice obtained by fraud, collusion, wilful misstatement 2. Input Tax credit can be availed when supplier furnished the details of invoice in GSTR-1 and such details communicated to recipient (as shown in GSTR-2A/2B) 3. GST audit shall be omitted 4. GST Annual return may …
GST imp amendments proposed in Budget 2021-Brief Read More »
A good read for sure …. 1-Conventional Car Repair workshops will vanish over a period of time. 2-A Petrol Engine /Diesel Engine-driven Car has almost 20,000 individual components An electrical Vehicle has less than 50. In future, Electric cars will be sold with a life-time Warranty and will be repaired only by authorised outlets.. It …
Some Very Interesting, but scary Predictions for the Future.. Read More »
Agenda Item 5A(vi): Filing of GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) 1) A lot of negative feedback was received regarding filing of annual return and reconciliation statement for FY 2017-18. Most of the feedback is on working of the IT portal. 2) Due date for filing Annual Return and Reconciliation statement for 2017-18 was …
Reason for Removal of GST Audit as per Extract of GST Council Minutes pg no. 133. Read More »
