Deadline : GSTR-9 for the FY 2021-22 is due by 31st December, 2022. Applicability: Every registered taxpayer having aggregate annual turnover of more than Rs. 2 Crore has to file annual return in GSTR-9 mandatorily. Latest Amendments in GSTR-9: Adhere… Read More
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Applicability of MGT-7A
The Ministry of Corporate Affairs introduced a great amendment through Companies (Management and Administration) Amendment Rules, on 5th March, 2021. As per the amendment every company except OPC and small company shall file its annual return in MGT-7. One Person… Read More
Common ITR form for all taxpayers
The CBDT on Tuesday 1st November, 2022 proposed to introduce a common ITR form merging all existing ITR forms except ITR-7. As per CBDT the new common ITR form will be user friendly. Also CBDT proposed that the income from… Read More
Section 194Q TDS on Purchase of Goods
Section 206C(1H) inserted by the Finance Act, 2020 mandates the tax collection at source by the seller of goods if it exceeds Rs. 50 lacs in any previous year. Similarly section 194Q has been inserted on the similar grounds by… Read More
National CSR Exchange Portal
National CSR Exchange Portal is an initiative of Ministry of Corporate Affairs. The National CSR Exchange Portal as a PAN based E-Marketplace for CSR stakeholders in which the implementing agencies and the CSR spending companies can work together. The National… Read More
Applicability of GST under RCM on Renting of Residential Dwelling applicable w.e.f 18th July, 2022
The Government initially exempted the services by way of renting of residential dwelling for the residential purposes through the entry no. 12 of Notification 12/2017 Central Tax Dated 28.06.2017. Eventually the Government has brought an amendment through the Notification no.… Read More
Section 194R Applicable wef 1st July 2022
The new section of TDS 194R is applicable wef from 1st July 2022 to all the assessees except Individuals and HUF subject to Tax Audit. Those individuals and HUF having tax turnover of exceeding Rs. 1 cr in of business… Read More
Incomplete GSTR-2B in some cases and consequent extension of deadline
The CBIC issued advisory on 15th May, 2022 regarding the difficulties being faced by the taxpayers at the time of filing GSTR-3B for the month April 2022. The department noticed that in some cases few details are not reflecting in… Read More
Don’t miss the deadline Form 10BD and Form 10BE is due by 31st May, 2022
The CBDT Notification 19/2021 dated 26th March, 2021 notified that a statement in Form 10BD is required to be submitted by all the entities registered under section 80G and Section 35(1) of the Income Tax Act. Post filing of the… Read More
E-Invoicing under GST
Latest Update E-Invoicing made mandatory for turnover above Rs. 20 Cr wef 1st April, 2022 The CBIC vide its Notification no. 01/2022 dated 24th February, 2022, reduced the e-invoicing turnover from present Rs. 50 Cr to Rs. 20Cr. GST e-invoice… Read More